Jan sold her house on December and took a $45,000 mortgage as part of the payment. The 10 year mortgage has com estate, but it is for sal payments de next June 30. Next year lan must report on Schedule of her IRS Form 1040 the amount of interest that was made in the two payment she red during the year a. What is the dollar amount of each payment to receives? Round your answer to the west cont $ b. How much interest was induded in the first payment? Hound your answer to the nearest cent 5 How much repayment of principal wat included? Do not roand intermediate cloon, 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 principali II. The portion of the payment that is applied to interest increases, while the portion of the payment that is applied to principal decream III. The portion of the payment that is applied to interest and the portion of the payment that is applied to cal remain the came throughout the le of the loan IV. The portion of the payment that is applied to interest declines, while the portion of the payment that shed topinopallo dedin V. The portion of the payment that is applied to interest increas, while the portion of the payment that is applied to principal also create cHow much interest must Jon report on schedule for the first year Do not und intermediate calculations. Round your answer to the newest ce $ will her interest income be the same year Select 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 in 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 applied to interest decines, while the portion of the payment that is applied to principal also decliners V. The portion of the payment that is applied to interest increases, while the portion of the payment that is applied to principal so increases c. How much interest must un report on Schedule for the first year? Do not found intermediate calculations. Round your answer to the nearest cent will be interest income be the same next year? the battere constant, why does the amount of interest income change over time? 1. As the loan is more of the beginning balance, hence the interest charge, increases and the payment of principali 11. As the loan amorted (pudot), the beginning balanc, hence the west chart, declines and the payment of principal increases in the loan ahotsed (paid off the beginning balance, then the charge declines and the repayment principal decline IV As the loan samoid Cound of the beginning balance, honor the rest choress and thereument of principal declines As the loans amortured (pud on the beginning balance dedes, but the interest charge and the repayment of people in the same