Check My Work (3 remaining) ED eBook Problem Walk-Through Jan sold her house on December 31 and took a $30,000 mortgage as part of the payment. The 10-year mortgage has an 8% nominal interest rate, but it calls for semiannual payments beginning next June 30. Next year Jar must report on Schedule B of her IRS Form 1040 the amount of interest that was included in the two payments she received during the year. a. What is the dollar amount of each payment Jan receives? Round your answer to the nearest cent. b. How much interest was included in the first payment? Round your answer to the nearest cent. How much repayment of principal was included? Do not round intermediate calculations. Round your answer to the nearest cent. $ How do these values change for the second payment? I. The portion of the payment that is applied to interest declines, while the portion of the payment that is applied to principal increases. II. The portion of the payment that is applied to interest increases, while the portion of the payment that is applied to principal decreases. III. The portion of the payment that is applied to interest and the portion of the payment that is applied to principal remains the same throughout the life of the loan. IV. The portion of the payment that is applied to interest declines, while the portion of the payment that is applied to principal also declines. V. The portion of the payment that is applied to interest increases, while the portion of the payment that is applied to principal also increases. -Select- C. How much interest must Jan report on Schedule B for the first year? Do not round intermediate calculations. Round your answer to the nearest cent. $ Will her interest Income be the same next year? -Select- d. If the payments are constant, why does the amount of interest income change over time? I. As the loan is amortized (paid off), the beginning balance, hence the interest charge, increases and the repayment of principal increases. II. As the loan is amortized (paid off), the beginning balance, hence the interest charge, declines and the repayment of principal increases. III. As the loan is amortized (pald off), the beginning balance, hence the Interest charge, declines and the repayment of principal declines. IV. As the loan is amortized (paid off), the beginning balance, hence the interest charge, increases and the repayment of principal declines. V. As the loan is amortized (paid off), the beginning balance declines, but the interest charge and repayment of principal remain the same. -Select- Check My Work (3 remaining) Curssi HProblem walk-through dans le seul Dac San ka $20,000 0.25 porte I. The LOW Cuticalo zaram. Omnom 30 r... Cochecer he is 192.16of Ind.. ... xddd the year www.lu ... LULUS I. $ hinn mintearren. IANCA har $ Foruch pet php wys dider? Do not rund te cu Rod your growto the rest FUA UUTISE WWII VIU LUI. WALL LIPULI PUL UILD WW...... Wakupu. PULULL. TILLAS IL Trent Uncl bl.a., Wils 4 Un bryta. LT. HIT. TEN paren't eat that we are parte che permet laps tapinthathuchaut taste the ben TV TA' Pre-t that is redes waarina---Het kan sprinsipales de Tapi-no-pret that -- Interne IK, while the w-st the warm decirle Ice r. Ils rempart Send. She Constm.nd memelet rallatbars Reuns was the tror When my? d'un C Santos Cam. c. 1och geme! LAS (-1). In alle. Ne trete e andre pr. n. IL P. : ILI. ULIINIU. NIR. Crear: 1..OuiUr. lupite paliva IL NIL: TEL: .:I-IN XIX wie ustru ai ui: Un Lup-it plus. TV BESTEMT Celinheiring balenia : HSH THE Adre/HT:ct prin des Valan kematies in helning en derinar. h. the Interchange in the past pinnal-theu- S. Check My Wordsrarita