iPad display not working - washed out/pixelated

I bought my iPad air 2 in Dec. 2015 and it's been great; however, last week, out of nowhere, all the light colors on my iPad appeared washed out and pixelated (ex: most of the white colors look like a very light yellow/orange). Also, if an app is on display for a bit, the imprint of that app will stay on the screen even after I close out of it - same goes for the clock, battery, wifi, etc. icons at the top. Changing the display settings does not help. Is this a software or hardware issue? If it's software then I guess there's nothing to do since it's old and I don't want to pay a huge amount to repair it. If it's hardware, then I hope I can just replace the screen.

Is it normal for an iPad to suddenly go haywire after 5 years? I should also mention that the iPad will restart due to "low battery" despite the battery showing 70% remaining. It happens frequently.

What can I do to repair my iPad if possible?