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Liz s Health Food Store has estimated monthly financing requirements for the next six months as follows: January $ 9 , 7 0 0 April
Lizs Health Food Store has estimated monthly financing requirements for the next six months as follows:
January $ April $
February May
March June
Shortterm financing will be utilized for the next six months. Projected annual interest rates are:
January April
February May
March June
a Compute total dollar interest payments for the six months. To convert an annual rate to a monthly rate, divide by Round intermediate calculations and final answers to decimal places.
Total dollar interest payments $
b Compute the total dollar interest payments if financing was constant at percent throughout the six months.
Total dollar interest payments $
b If longterm financing at percent had been utilized throughout the six months, would the totaldollar 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:
Shortterm 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 Round
Intermedlate calculations and final answers to decimal places.
Total dollar Interest payments
b Compute the total dollar Interest payments if financing was constant at percent throughout the slx months.
Total dollar Interest payments
b If longterm financing at percent had been utilized throughout the slx months, would the totaldollar Interest payments be larger
or smaller?
Smaller
Larger
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