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Question: carmens beauty salon has estimated monthly financing requirements for the...

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Carmens Beauty Salon has estimated monthly financing requirements for the next six months as tollows: January $ 8,800 pl 2,800 May February March S 8,800 9,800 4,800 3,800 June Short-term financing will be utilized for the next six months. Projected annual interest rates are January February March 70% April 8.0% May 11.0% June 14.0% 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.) dollar interest payments 352.2 b-1. Compute the total dollar Interest payments If long-term financing at 12 percent had been util zed throughout the slx months? (Round your monthly Interest rate to 2 declmal places when expressed as a percent. Round your Interest payments to the nearest whole cent.) Total dollar interest payments

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