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payments beginning next June 30 . Next year Jan must report on Schedule B of her InS form 1040 the amount of interest that was iniduded in the two payments she. received daring the yeat a. What is the dollar amount of each payment Jan receives? Round your ariswer to the nearest cent, 3 b. How much interest was incladed in the first payment? Reund your angwer to the nogrest cent. How much repoymerit of principal was iscluded? Po not round intermedime calculations. Round your ancwer to the reatest cerit. 5 How do theme values change for the second payment? 1. The partiogi of the niryment that is appiled to interest decines, while the portion of the payment that is apelied to princioal increases. 11. The portion of tive payment that is applied ta interest incieases, while the portion of the poyment that is abotied to prinieipal decreases. Iti. The portion of the payment that is applied to interest and the portion of the poyment that is applied to gotincipal remains the same throughaut the life of the loan. v. Thet portion of thin peyment that is applied to interest increaset, white the portion of the payment that is applied to principal also increases. C. How much mierdes must lan report on Sicheoule b for the fust year? Do not round intermediate calculatoans. Round your answer to the nearest cent. 4. If the payments are constant, why does the amount of interest income change over time? 1. As the foan is amortized (paid off), the beginning balance, hence the interest charge, increases and the repayment of principal increases. 1. As the loan is amortized (paid off), the beginning balance, hence the intereft charge, declines and the repayment of principal incricases. 1. As the loan is amortized (paid off). the beginning balance, hence the interest charge, declines and the repayment of pricicipal ceclines. V. As the loan is amortzed (paid off), the beginning balance, hence the interest charge, increases and the repaymert of principal declinees. V. As the lown is amortized (paid off), the begenting balance declines, but the interest charge and the repayment of principat remain thit famen. Will her interest income be the same next year? -Select- -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 paid off in 10 years