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1 ) What amount should be deposited at the end of each quarter in a sinking fund earning 8 percent compounded quarterly if the amount
What amount should be deposited at the end of each quarter in a sinking fund earning percent compounded quarterly if the amount in the fund after years is to be $ A company offers its salespeople a bonus of $ per quarter for years. To win a bonus, a salesperson must have sold at least $ million worth of the companys products in the period January through December and the first bonus payment is made at the end of the first quarter following. The company funds each bonus on December by a lumpsum deposit in a bank account that pays percent compounded quarterly, and the bank sends out the bonus checks; a What total sum is received by each bonus winner? b How much does it cost the company to fund each bonus?
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