Niagular Corp. needs to take out a one-year bank loan of $500,000 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 360-day year, what will be the monthly payment for June? (Hint: Remember that June has 30 days.) O $4,166.67 O $3,333.34 O $4,791.67 O $3,541.67