Full Book gage as part of the payment. The -year mortgage has an 8% nominal interest rate, but it calls for semiannual payments beginning next June 30. Next year Jan 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. O $ How much repayment of principal was included? Do not round intermediate calculations. Round your answer to the nearest cent. 1. 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 v -Selen II EN> V IV h interest must Jan report on Schedule B for the first year? Do not round intermediate calculations. Round your answer st cent. Will her interest income be the same next year? Seled Select Her interest income will increase each successive year Her interest income will remain the same in each soccessive year She will not receve interest income, eely a retum of capital Her interest income wil decine each successive She will receive interest only when the mortgage is paid off in 10 years e change over time? Interest charge, increases and the rep 11. As the loan is amortized (paid off), the beginning balance, hence the interest charge, declines and the repas increases. III. As the loan is amortized (paid off), the beginning balance, hence the interest charge, declines and the repaym decines IV. As the loan is amortized (paid off), the beginning balance, hence the interest charge, increases and the repan declines. V. As the loan is amortized (paid off), the beginning balance declines, but the interest charge and the repayment remain the same. Select v E ASUS VivoBook 2 * A 5 G 4 7 G 600 8 Check My Work E10 10 O K R > D F G H C V B N M 3 E P Al AS rents are constang why ones me amount of intere income change over time? I. As the loan is amortized (paid off), the beginning balance, hance the interest charge, increases and the repayment of principel Increases. 11. As the loan is amortized (paid off), the beginning belance, hence the interest charge, declines and the repayment of principe increases. III. As the loan is amortized (paid off), the beginning balance, hence the interest charge, declines and the repayment of principl 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 the repayment of principal remain the same. m ASUS VivoBook E R D F G H B N M K P Check My Work remaining? ASUS VivoBook S Lightweight