Amortization. Loan Consolidated Incorporated $(LCl)$ 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 $$240,000$ for Custom Autos if Custom Autos will make an annual payment to $LCl$ at an interest rtae of $7\%$ 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?