(4 points) Paddington Bear takes an 8-year loan at a 1.75% nominal annual interest compounded quarterly. Starting 3 months after the loan was made, Paddington must make quarterly interest-only payments to the lender. He must also accumulate the principal to be repaid in a sinking fund that earns a nominal annual interest of 0.75% compounded quarterly. Paddington's quarterly outlay in relation to the loan is 302.29. Find how much Paddington borrowed. Answer = Click for a hint 1. The quarterly outlay is the sum of the interest-only payment and the amount that Paddington has to deposit in the sinking fund. 2. Convert the interest rates to equivalent rates that are the easiest to use