jan sold her house on decmeber 31

Jan sold her house on December 31 and took a $50,000 mortgage as part of the payment. The 10-year mortgage has a 12% nominat interest rate, but it calls for servannual payments beginning next June 30. Next year lan must report on Schedule of her les Form 1040 the amount of interest that was included in the two payments she received comme the year a. What is the dollar amount of each payment Jan recelves Round your answer to the nearest cont. $ b. How much interest wat included in the first payment? Round your anwer to the nearest cent $ How much repayment of principal was included? Do not round Intermediate calculations. Hound 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 dedines, 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 pricipal decreases III. The portice 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 IV. The portion of the payment that is applied to interest declines, while the portion of the payment that is applied to principal decine V. The portion of the payment that is applied to interest increases, while the portion of the payment that is applied to propas increase th interest must Jan report on Schedule for the first year? Do not und intermediate calculations. Round your answer to the nearest is applied to interest dedines, while the portion of the payment that led to police II. The portion of the payment that is applied to interest increases, while the portion of the payment that is led to pred III. The portion of the payment that is applied to interest and the portion of the payment that is plied to press the these IV. The portion of the payment that is applied to interest dedines, while the portion of the payment that is pled to indices V. The portion of the payment that is applied to interest increases, while the portion of the payment that is noplied to prepare c. How much Interest must Jan report on Schedule for the first year? Do not round intermediate calculations. Hound your inter to the newest ng Will her interest income be the same next year? Balet Herreime with sucive ye Har interest income She wore interest on Pinterest income change over time? Hinter den in een She way when the pala ng balance, hence the interest charge, increases and the payment of price II. As the loan is amortized (paid om), the beginning balance, hence the interest charge, delines and the repayment principal III. As the loan is amortized (paid off), the beginning balance, hence the interest charge declines and the repayment of principal de IV. As the loan is amortized (paid off), the beginning balance, hence the interest charge, increases and the payment of precio decim V. As the loan is amortized (paid off), the beginning balance dedines, but the interest charge and the repayment of price the same - d. If the payments are constant, why does the amount of interest income change over time? As the loan is amortized (paid of the beginning balance, hence the interest charge, increases and the repent of prindpal As the loan is amortized (paid of the beginning balance, hence the interest charge declines and the repayment of L. As the loan is amortized (paid of the beginning balance, hence the interest charge, decines and the payment of profes IV. As the loan is amortized Condom, the beginning balance, hence the interest charge, increased the payment of As the loan is amortired (paid off), the beginning balance dedines, but the interest charge and the payment of remains the