Please do it manually, not with excel. Thankyou.

3. A couple buys a home and signs a mortgage contract for $120 000 to be paid with monthly payments over a 25-year period at i(2) = 10.5 %. After 5 years, they renegotiate the interest rate and refinance the loan at i(2) = 7%. Determine: a. the monthly payment for the initial 5-year period; b. the new monthly payment after 5 years; , c. the accumulated value of the savings for the second 5-year period at i(12) = 3 % valued at the end of the second 5-year period; d. the outstanding balance at the end of 10 years