a. You decide to purchase a house in Toronto at a cost of $1.6 million. The house is financed 80% with a 30-year mortgage and 20% with a cash down payment. You are financing the mortgage with a 6% fixed mortgage rate (compounded monthly i.e 0.5% per month). Fill in the amortization schedule below for 60 months (5 years). Please attach an xls document or fill in the sheet below.

Payment no	Beg balance	payment	interest	principle	End balance
1
2
3
4
5

b. Explain why the interest component is decreasing as time goes on