jan sold her house on December 31 and took $20,000 mortgage

Jan sold her house on December 31 and took a $20,000 mortgage as part of the payment. The 10-year mortgage has a 9% nominal interest rabut 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 dolar amount of each payment Jan receives? Round your answer to the nearest cent. $ 1.537.52 d. If the payments are constant, why does the amount of interest income change over time? TIT 1. 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 (paid 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 the repayment of principal remain the same