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. LCl will pay off the current outstanding bills of $248,000 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? 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. LCl will pay off the current outstanding bills of $248,000 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