Liz$$s Health Food Store has estimated monthly financing requirements for the next six months as follows:

January $$9,700$ April $$9,700$

February $3,700$ May $10,700$

March $4,700$ June $5,700$

Short$-$term financing will be utilized for the next six months. Projected annual interest rates are:

January $6\mathrm{.}0\%$ April $13\mathrm{.}0\%$

February $7\mathrm{.}0\%$ May $12\mathrm{.}0\%$

March $10\mathrm{.}0\%$ June $12\mathrm{.}0\%$

a$.$ Compute total dollar interest payments for the six months. To convert an annual rate to a monthly rate, divide by $12.($Round intermediate calculations and final answers to $2$ decimal places.$)$

Total dollar interest payments $

b$-1.$ Compute the total dollar interest payments if financing was constant at $12$ percent throughout the six months.

Total dollar interest payments $

b$-2.$ If long$-$term financing at $12$ percent had been utilized throughout the six months, would the total$-$dollar interest payments be larger or smaller?

multiple choice

Smaller

LargerLIz's Health Food Store has estimated monthly financing requirements for the next slx months as follows:

Short$-$term financing will be utilized for the next slx months. Projected annual Interest rates are:

a$.$ Compute total dollar Interest payments for the six months. To convert an annual rate to a monthly rate, divide by $12($Round

Intermedlate calculations and final answers to $2$ decimal places.$)$

Total dollar Interest payments

b$-1.$ Compute the total dollar Interest payments if financing was constant at $12$ percent throughout the slx months.

Total dollar Interest payments

b$-2.$ If long$-$term financing at $12$ percent had been utilized throughout the slx months, would the total$-$dollar Interest payments be larger

or smaller?

Smaller

Larger