Mildred's Brewing Corp. 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 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? (Remember that June has 30 days.) $4,950.00 $5,400.00 $4,500.00 $5,175.00 Another bank has offered 9% add-on interest to be repaid in 12 equal monthly installments. What is the monthly payment on this add-on interest loan? $42,918.75 $40,875.00 $32,700.00 $34,743.75