Consider this case: Taco Large Inc. 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 8% simple interest that requires monthly payments. The loan principal will bee 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 $3,333.33 O $3,500.00 O $2,666.66 O $2,833.33 Another bank has offered 5% add-on interest to be repaid in 12 equal monthly installments. What is the monthly payment on this add-on interest loan? $41,562.50 O $45,937.50 O $39,375.00 O $43,750.00 O O