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Jan sold her house on December 3 1 and took a $ 3 0 , 0 0 0 mortgage as part of the payment. The
Jan sold her house on December and took a $ mortgage as part of the payment. The year mortgage has a nominal interest rate, but it calls for semiannual payments beginning next June Next year Jan must report on Schedule B of her IRS Form 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. $
b How much repayment of principal was included? Do not round intermediate calculations. Round your answer to the nearest cent. $
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. $correct according to Check my work.
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