A bank has $450,000 to lend for 6 months. It can lend it to a local contractor at a simple interest rate of 12%, or it can lend it to a small business that will pay 12% compounded monthly. If the bank wants to maximize its interest earned, who should receive the loan and what is the additional interest earned? Business; $684.00 Contractor; $26,316.00 Business; $411,219.00 Contractor; $684.00