WordPress static page pagination on front-page.php

I have been trying to apply answers provided on this forum regarding WordPress pagination on static pages, but cannot seem to make them work on my page.
The closest I was able to make was a pagination system loading a page full of posts that were not even uploaded as excerpts but provided in complete form.

The answer I am looking for is for “pagination” to upload older posts on the same front page of the website whenever i click “Older” posts, and the other way around with “Newer”.

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My WordPress reading settings are as follows:

A static page
Front page: Home,
Posts page: Home

My front-page.php code is (nested withing a column of my page using bootstrap) :

<!----- POSTS COLUMN BEGIN ------------->
<div class="col-xs-12 col-sm-8 col-md-8"> 
<?php 

    query_posts('posts_per_page=5');
    while(have_posts()) : the_post(); ?>
    <date class="text-muted"><?php the_date("m.d.Y") ?></date>
    <h2><a href="<?php the_permalink(); ?>"><?php the_title(); ?></a></h2>
    <p><?php the_excerpt(); ?></p>
<hr>

<?php endwhile; wp_reset_query(); ?>


<br >

<!---- PAGINATION BUTTONS BEGIN ------->

<nav>
  <ul class="pager">
    <li class="previous"><a href="#"><span aria-hidden="true">&larr;</span>Older Posts</a></li>
    <li class="next"><a href="#">Newer Posts <span aria-hidden="true">&rarr;</span></a></li>
  </ul>
</nav> 
    
    
<!---- PAGINATION BUTTONS END ---------> 
</div>
<!----- POSTS COLUMN END ------------->

Currently functions.php does not contain anything regarding pagination. I have also left the “Older” & “Newer” buttons in the code.

Thank you for your help in advance!

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