Wizard Corp. needs to take out a one-year bank loan of $400,000 and has been offered several different terms. One bank has offered a 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.) $4,216.67 O $3,300.00 O $3,666.67 $4,400.00 Another bank has offered 8% add-on interest to be repaid in 12 equal monthly installments. What is the monthly payment on this add-on interest loan? $43,200.00 O $36,000.00 O $41,400.00 O $32,400.00