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Carmen's Beauty Salon has estimated monthly financing requirements for the next six months as follows:...

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Accounting

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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 annualinterest rates are: a. Compute total dollar interest payments for the six months. Note: Round your monthly interest rate to 2 decimal places when expressed as a percent. Round your interest poyments to the nearest whole cent. b-1. Compute the total dollar interest payments if long-term financing of 12 percent hod been utilized throughout the six months? Note: Round your monthly interest rate to 2 decimal places when expressed as a percent. Round your interest payments to the nearest whole cent. -2. If long-term financing at 12 percent had been utilized throughout the six months, would the total-doilar interest payments be large or smaller than with the short-term financing plan? Smaller Lorger

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