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

Short$-$term financing will be utilized for the next six 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

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?

Larger

Smaller