David is considering a small business loan from the Bank of America. He wants to open a showroom to sell his handmade canoes and chairs. He is considering 2 options. A $100,000, 5 year 7% loan, or a $100,000 10 year 8% loan. He thinks having a smaller payment with a longer loan would beneficial. However, he is concerned about the total interest. Calculate the principal and interest payments.