An interest$-$only mortgage is made for $$84,000$ at $6$ percent interest for $10$ years. The lender and borrower agree that monthly payments will be constant and will require no loan amortization.

Required:

What will the monthly payments be$?$

What will be the loan balance after five years?

If the loan is repaid after five years, what will be the yield to the lender?

Instead of being repaid after five years, what will be the yield if the loan is repaid after $10$ years?