7. Problem 5.22 (Loan Amortation) abeos Problem Walk-Through Son old her house on December 31 and took 530,000 mortgage part of the payment. The 10-year mortgage has nominal Interest rate, but it calls for semiannual payments beginning neat June 30. Next year san must report on schedule of her IRS Form 1040 the amount of interest that was induded in the two payments the received during the year What is the solar amount of each payment Jansenves Round your newer to the rest cont How much interest w induced in the trst payment Round your her to the newest 5 How much payment of principal was induted? Do not round intermediate akulations. Round your answer to the newest omnt 5 How do these values change for the second payment 1. The portion of the payment that is led to rest decines the portion of the payment that is applied to prepare 11. The portion of the payment that is applied to internes the portion of the payment that is led to principal de m. The portion of the payment that is de werest and the portion of payment that is led trial remains the same throughout the ite of the loan IV. The portion of the same that is nopied to interest decine, while the portion of the payment that is applied to principat dedins The portion of the payment that is pled to interest rates, while the portion of the payment that is pled to increase c. How much internet must as report on schedule for the first year? De net round intermediate calculator Round your newer to the nearest cent. witherinterest in the next year? de payments are constant, why does the amount of interest income change over 1. A morti ed off the beginning balance, hence the interest they need the repayment of principale H. As the more of the beginning balance, hence the interest charge, cine and the repayment of police IL A moto the beginning, centres charge decines and the rest of the 1. Asisted of the beginning and hence the rest charge, indement of proteins Atheism, thing wees, but the rest change and payment of remain the same Will her interest income be the same next vear? -Select- Her interest Income will increase in each successive year. Her interest income will remain the same in each successive year. She will not receive interest income, only a return of capital. Her interest income will decline in each successive year. She will receive interest only when the mortgage Is pald off in 10 years. rest income lance, hence