You are looking for a 6-year $500.000 bank loan and have received the following two bank proposals

Bank A:

Annual interest rate of 4%, loan to be repaid through constant annuity payment

Bank B:

Annual interest rate of 4%, loan to be repaid through constant amortisation

You cannot pay more than $98.000 every year to service the loan. Based on this, which loan do you decide to take and what will be the overall cost?

Excel spreadsheet with explanation please