Chez Quis Inc. needs to take out a one-year bank loan of $450,000 and has been offered several different terms. One bank has offered a loan with 10% simple interest that requires monthly payments. The loan principal will be paid back at the end of the year. Based on a 365-day year, what will be the monthly payment for June? (Hint: Remember that June has 30 days.) $3,513.70$4,438.36$3,698.63$3,883.56 Another bank has offered 7% add-on interest to be repaid in 12 equal monthly installments. What is the monthly payment on this add-on interest Ioan? $38,118.75$48,150.00$40,125.00$42,131.25