just 6,8 & 9

5. A company offers its salespeople a bonus of $500 per quarter for 3 years. To win a bonus a salesperson nust have sold at least 1 million worth of the com pany's products in the period January through De. cember 31, and the first bonus payment is made al the end of the first quarter following. The company funds cach bonus on December 3! by a lump sum deposit in a bank account that pays 8 percent com pounded 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? 6 A college alumni club has decided to establish a scholarship fund that will provide grants of $5.000 a year for 25 years, with the first grants to be made a year from now. a) What should be the sum placed in the fund if interest on it is earned at the rate of 8 percent compounded annually? b) What is the total amount of scholarship aid the fund will provide over its life! ? What payment at the end of each month for 2 years will discharge a current debt of $1,000 if the interest charge on the debt balance at any time is 12 percent compounded monthly? & What payment at the end of each 6-month period for 10 years will discharge a current debt of $2.500 if the interest charge on the debt balance is 10 percent compounded semiannually 9 A company borrows $100.000 at 12 percent com- pounded semiannually. The debt is amortized by making equal payments at the end of each 6 months for 7 years. a) Find the amount of each payment b) How much of the first payment is for interest and by how much does it reduce the balance owed? c) How much of the second payment is for interest. and by how much does it reduce the balance owed? 10. Fran borrowed $6.000 at 24 next compound.de monthly to buy a car. The debt. Ku corred