months 6. Bambino Sporting Goods makes baseball gloves that are very popular in the spring and early summer season. Units sold are anticipated as follows: pr (2 March April May June 3,250 7,250 11,500 9,500 31,500 units lo b 13.55 percent interest in cost under each plan. Which plan is less costly? 8. Biochemical Corp. requires $550,000 in financing over the next three years. The firm can borrow the funds for three years at 10.60 percent interest per year. The CEO decides to do a forecast and predicts that if she utilizes short-term financ- ing instead, she will pay 8.75 percent interest in the first year, 13.25 percent interest in the second year, and 10.15 percent interest in the third year. Deter- mine the total interest cost under each plan. Which plan is less costly? months 6. Bambino Sporting Goods makes baseball gloves that are very popular in the spring and early summer season. Units sold are anticipated as follows: pr (2 March April May June 3,250 7,250 11,500 9,500 31,500 units lo b 13.55 percent interest in cost under each plan. Which plan is less costly? 8. Biochemical Corp. requires $550,000 in financing over the next three years. The firm can borrow the funds for three years at 10.60 percent interest per year. The CEO decides to do a forecast and predicts that if she utilizes short-term financ- ing instead, she will pay 8.75 percent interest in the first year, 13.25 percent interest in the second year, and 10.15 percent interest in the third year. Deter- mine the total interest cost under each plan. Which plan is less costly