TASK 6. Answer the following questions based on the given percentages, decimals, and fractions in the context of income.

1. If you receive a 3% pay increase on your $50,000 salary, what is your new annual salary?

2. You contribute 8% of your $60,000 salary to your retirement account each year. How much do you contribute each year?

3. Your credit card company charges an annual interest rate of 24%. If your balance is $5,000, how much interest will you pay in one year?

4. A product costs $80, but there is a 20% discount. What is the new price?

5. You receive a bonus of 10% of your annual salary of $70,000. How much is your bonus?