Build and submit the following amortization schedules in Excel and calculate the total interest paid for each loan:

1. A fixed principal loan of $50,000 to be repaid yearly in 10 years at a rate of 6%

2. A fixed payment (principal including interest) loan of $250,000 to be repaid monthly in 15 years at an annual rate of 7%

Which loan is more likely to be a loan for a mortgage? demonstrate excel calculations.