i need help with tgis question.

Th 16. Assignment-Working Capital Management Short-term financing through bank 1 Consider this case: Teco Large inc. needs to take out a one-Year bank loan of 5500,000 and has been offered loan terms by two different banks, One bunk. has offered a simple interest loan of 11% that requires monthly payments. The loan princlool wil be pald bock at the end of the year. Ahother bank has offered 8% add-on interest to be repaid in 12 equal monthly instalments. Based on a 360-6ay year, what will be the monthly payment for each loan tor Novemben (Hint: Remenber that November has 30 days.) Choose the answer that bert evaluates the following statement: Industrialiation Automation Co1 alwavs prefers simple intereit loans over add-en interest loans becouse even it the interest rate is higher on the mimple iotereit loan, its monthiy payment is iowec. The company should only accept ads on intereit loans when t cannot get simple interest lours. The company needs to be senvitive to interest rate differences between losh types and tike them into considecation when deciaing what trpe of loan to take out