A bank has $800,000 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 ad itional interest earned? O Contractor: $46,784.00 O Contractor: $1216.00 O Business, $1216.00 O Business: $731,056.00