Short-term financing through bank loans Big T Burgers and Fries Corp; 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 and of the year, Based on a 360-day year, what will be the monthly payment for June? (Hint: Remember that June has 30 days.) $4,800,00$5,400.00$5,700,00$56,000,00 Another bank has offered 9% add-on interest to be repaid in 12 equal monthly installments. What is the monthly payment on this add-onintarest loan? Another bank has offered 9% add-on interest to be repaid in 12 equal monthly instaliments. What is the monthly payment on this add-on interest lossin ? 551,775.00$54,500,00549,050,00543,600,00