Q Search this course Ch.16: Hw2 Consider this case Uninode Inc. neds to take out a one-year bank loan of $550,000 and has been offered several different terms. One bank has loan with 11% 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.) $5,041.67 $4,285.42 $4,537.50 $4,033.34 s. What is the monthly payment on this add-on interest has offered 8% add-on interest to be repaid in 12 equal monthly installment loan? $42,075.00 39,600.00 $49,500.00 o $44,550.00