A person purchased a home and signed a mortgage contract for $500, 000 to be paid with half-yearly payments over a 25-year period. The interest rate applicable is j2 = 8.5% p.a. applicable for the first five years, with the condition that the interest rate will be increased by 4% every 5 years for the remaining term of the loan

Based on the given information, required to use Excel software with cell referencing to:

1.) Calculate the half-yearly payment required for each five-year interval

2.) Calculate the loan outstanding (outstanding balance) at the beginning of each five-year interval

3.) Prepare a loan amortization table for the final 12 half-years of the loan term