Problem 6-18 Interest costs under alternative plans (LO6-3] Carmen's Beauty Salon has estimated monthly financing requirements for the next six months as follows: January February March $ 9,200 3,200 4,200 April May June $ 9,200 10,200 5,200 Short-term financing will be utilized for the next six months. Projected annual interest rates are: January February March 6.0% 7.0% 10.0% April May June 13.0% 12.0% 12.0% a. Compute total dollar interest payments for the six months. (Round your monthly interest rate to 2 decimal places when expressed as a percent. Round your interest payments to the nearest whole cent.) Total dollar interest payments b-1. Compute the total dollar interest payments if long-term financing at 12 percent had been utilized throughout the six months? (Round your monthly interest rate to 2 decimal places when expressed as a percent. Round your interest payments to the nearest whole cent.) 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 than with the short-term financing plan? Smaller O Larger