Business, 24.10.2019 16:43 dondre54

Jan sold her house on december 31 and took a $10,000 mortgage as part of the payment. the 10-year mortgage has a 10% nominal interest rate, but it calls for semiannual payments beginning next june 30. next year jan 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.

a. what is the dollar amount of each payment jan receives?

b. how much interest was included in the first payment? how much repayment of principal was included? how do these values change for the second payment?

c. how much interest must jan report on schedule b for the first year? will her interest income be the same next year?

d. if the payments are constant, why does the amount of interest income change over time?

Answers: 2

Show answers

Another question on Business

Business, 21.06.2019 16:00

Evelyn would like to open a small business that is categorized as a being in the distribution industry. to do this she could open a establishment.

Answers: 1

Answer

Business, 21.06.2019 21:00

Which of the following is a reason why it is important for students to study strategy and the strategic management process? answers: studying strategy and the strategic management process can give students tools to evaluate the strategies of firms that may employ them.it can be very important to a new hire's career success to understand the strategies of the firm that hired them and their place in implementing these strategies.while strategic choices are generally limited to very experienced senior managers in large organizations, in smaller and entrepreneurial firms many employees end up being involved in the strategic management process.all of these.

Answers: 3

Answer

Business, 22.06.2019 09:40

Salt corporation's contribution margin ratio is 78% and its fixed monthly expenses are $30,000. assume that the company's sales for may are expected to be $89,000. required: estimate the company's net operating income for may, assuming that the fixed monthly expenses do not change.

Answers: 1

Answer

Business, 22.06.2019 11:30

11. before adding cream to a simmering soup, you need to a. simmer the cream. b. chill the cream. c. strain the cream through cheesecloth. d. allow the cream reach room temperature. student d incorrect which answer is right?

Answers: 2

Answer

You know the right answer?

Jan sold her house on december 31 and took a $10,000 mortgage as part of the payment. the 10-year mo...

Questions