An institutional lender is willing to make a loan for $$1\mathrm{.}16$ million on an office building at a $6$ percent interest $($accrual$)$ rate with payments calculated using an $4$ percent pay rate and a $30-$year loan term. $($That is$,$ payments are calculated as if the interest rate were $4\%$ with monthly payments over $30$ years.$)$ After the first five years the payments are to be adjusted so that the loan can be amortized over the remaining $25-$year term.

Required:

a$.$ What is the initial payment?

b$.$ How much interest will accrue during the first year?

c$.$ What will the balance be after five years?

d$.$ What will the monthly payments be starting in year $6?$