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Problem 6-19 (Algo) Break-even point in interest rates [LO6-3] Carmen's Beauty Salon has estimated monthly financing requirements for the next six months as follows: Short-term

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Problem 6-19 (Algo) Break-even point in interest rates [LO6-3] Carmen's Beauty Salon has estimated monthly financing requirements for the next six months as follows: Short-term financing will be utilized for the next six months. Projected annuaf interest fates are: What long-term interest rate would represent a break-even point between using shortterm financing and long-term financing? Note: Round your monthly interest rate to 2 decimal ploced when expressed as o percent. Round your interest peyments to neorest whole cent, Input your answer as o percent rounded to 2 decimal places

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