hort-term financing through bank loans Minuteman Cafe Inc, needs to take out a one-year bank loan of $600,000 and has been offered several different terms. One bank has offered a loan with 12% simple interest that requires monthly payments. The loan principal will be paid back at the end of the year. Based on a 360-day year, what will be the monthly payment for June? (Hint: Remember that June has 30 days.) $6,900.00$5,100.00$5,700.00$6,000.00 Another bank has offered 9% add-on interest to be repald in 12 equal monthly instaliments. What is the monthly payment on this add-on interest loan? $46,325.00$62,675.00$51,775.00$54,$00.00