Carmen’s Beauty Salon has estimated monthly financing requirements for the next six months as follows: January $ 9,300 April $ 9,300 February 3,300 May 10,300 March 4,300 June 5,300 Short-term financing...

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Carmen’s Beauty Salon has estimated monthly financingrequirements for the next six months as follows:

January $ 9,300 April $ 9,300
February 3,300 May 10,300
March 4,300 June 5,300
Short-term financing will be utilized for the next six months.Projected annual interest rates are:

January 7 % April 14 %
February 8 May 12
March 11 June 12
What long-term interest rate would represent a break-even pointbetween using short-term financing and long-term financing?(Round your monthly interest rate to 2 decimal places whenexpressed as a percent. Round your interest payments to the nearestwhole cent. Input your answer as a percent rounded to 2 decimalplaces.)
_____

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Carmen’s Beauty Salon has estimated monthly financingrequirements for the next six months as follows: January$9,300April$9,300February3,300May10,300March4,300June5,300Short-term financing will be utilized for the next six months.Projected annual interest rates are: January7%April14%February8May12March11June12What long-term interest rate would represent a break-even pointbetween using short-term financing and long-term financing?(Round your monthly interest rate to 2 decimal places whenexpressed as a percent. Round your interest payments to the nearestwhole cent. Input your answer as a percent rounded to 2 decimalplaces.)_____


January	$	9,300	April	$	9,300
February		3,300	May		10,300
March		4,300	June		5,300