@purpleinopp Thanks for the tip about peat moss. This is a good pointer as I haven't taken the the time to learn about soil mixtures yet.
Regarding the fertilizer pellets, this is what I found on their website "Pokon Indoor Plants Nutrient Cones are fast-acting fertilizers with an NPK of 15-10-12 + 2MgO + Micronutrients". The water that comes out of the pot is typically brown-ish but still semi-transparent. I'm curious to know what the color of the exiting water means.
@WillC Thanks for your advice. Would you recommend removing some soil from the top? I think the root is located halfway down the height of the pot which will make drying slower.
@plantladylin Thanks I'm happy you like my tree! It has made a huge improvement to the atmosphere of the room. I suppose there is not much that can be done about the already-yellowed leaves? That's too bad because if I were to prune them then the tree would look a lot emptier.