I'm having difficulty with this problem

If a nail made of elemental iron [Fe(s)] is placed in an aqueous solution of a soluble palladium (II) salt [Pd2+(aq)], the nail will gradually disappear as the iron enters the solution as Fe3+ (aq) and palladium metal [Pd (s)] forms.

is this a redox equation? Yes or No

Balance and show the net ionic equation that describes this reaction?