Amortization.$$Loan Consolidated Incorporated$($LCI$)$ is offering a special$$ one$-$time package to reduce Custom$$ Autos' outstanding bills to one$$ easy$-$to$-$handle payment plan. LCI will pay off the current outstanding bills of $$$$250$ comma $000$ for Custom Autos if Custom Autos will make an annual payment to LCI at an interest rtae of $10\%$ over the next $5$ years.$$

a$.$What are the annual payments of the$$ loan?

b$.$What is the amortization schedule for this loan if Custom Autos wants to pay off the loan before the loan maturity in $5$years$?$

c$.$When will the balance be half paid$$ off?$$

d$.$What is the total interest expense on the loan over the $5$years$?$

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Part $1$

a$.$ What is the annual payment of the$$ loan?