Carmen’s Beauty Salon has estimated monthly financing requirements for the next six months as follows: January $ 8,100 April $ 8,100 February 2,100 May 9,100 March 3,100 June 4,100 Short-term...

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 annual interest rates are:

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.)

b-1.
Compute the total dollar interest payments if long-term financing at 12 percent had been utilized throughout 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.)