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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

1)What amount should be deposited at the end of each quarter in a sinking fund earning 8 percent compounded quarterly if the amount in the fund after 4 years is to be $90,000?2. A company offers its salespeople a bonus of $500 per quarter for 3 years. To win a bonus, a salesperson must have sold at least $1 million worth of the companys products in the period January 1 through December 31, and the first bonus payment is made at the end of the first quarter following. The company funds each bonus on December 31 by a lump-sum deposit in a bank account that pays 8 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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