Jan sold her house on December 31 and took a $50,000 mortgage as part of the payment. The 10-year mortgage has a 6% nominal Interest rate, but it calls for semiannual payments beginning next June 30. Next year dan 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 . What is the dollar amount of each payment Jon 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? 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. II. 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 How much warst mustan report on Schedule for the first year? Do not found intermediate calculations. Round your answer to the nearest cont. Sductory where income be the same next year d he payments o n why does the amount of s ome change over time? 1. Astean is amortized ad of the beginning balance, hence the interest change increases and the repayment of principal increases Lassen s orte do begining balance, hence the interest charge deces and the payment of principal increases TIL As ans amortid om te begin hence the interest charge deines and the repayment of principal declines T e nis amortized b e ce the interest chargeurses and repayment of prima delines As the most of the beginning acc es, but the stage and theyment of principal remain the same Bebetto search Oleg