Please provide explanation for your solution, do not solve with excel.

5. A fixed-rate, level-payment mortgage loan has the following properties: maturity =3ll months, amount horrowed= $25,ll, annual mortgage rate=% 3. Construct an amortization table for the rst 5 months it. What is the mortgage balance and scheduled principal at the end of 1611'" period {do not have to show the amortization tahle, just specify,r Balance and principle amount! c. Explain why, in a fixed-rate mortgage, the amount of the mortgage payment applied to interest declines over time, while the amount applied to the repayment of principal increases