Requesting assistance with the following question. My answer is incorrect.Thank you. Carmen’s Beauty Salon has estimated monthly financing...

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Requesting assistance with the following question. My answer isincorrect.Thank you.
Carmen’s Beauty Salonhas estimated monthly financing requirements for the next sixmonths as follows:

January $ 9,100 April $ 9,100
February 3,100 May 10,100
March 4,100 June 5,100
Short-term financingwill be utilized for the next six months. Projected annual interestrates are:

January 5 % April 12 %
February 6 May 12
March 9 June 12
What long-terminterest rate would represent a break-even point between usingshort-term financing and long-term financing? (Round yourmonthly interest rate to 2 decimal places when expressed as apercent. Round your interest payments to the nearest whole cent.Input your answer as a percent rounded to 2 decimal places.)

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THE INTEREST RATE GIVEN See Answer

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Requesting assistance with the following question. My answer isincorrect.Thank you.Carmen’s Beauty Salonhas estimated monthly financing requirements for the next sixmonths as follows: January$9,100April$9,100February3,100May10,100March4,100June5,100Short-term financingwill be utilized for the next six months. Projected annual interestrates are: January5%April12%February6May12March9June12What long-terminterest rate would represent a break-even point between usingshort-term financing and long-term financing? (Round yourmonthly interest rate to 2 decimal places when expressed as apercent. Round your interest payments to the nearest whole cent.Input your answer as a percent rounded to 2 decimal places.)


January	$	9,100	April	$	9,100
February		3,100	May		10,100
March		4,100	June		5,100