- A lender providing a loan of $2000 requires quarterly payment of interest at a nominal rate of 9% compounded quarterly, and repayment of the $2000 principal at the end of 3 years. The borrower plans to accumulate the principal for repayment at the end of 3 years using level quarterly deposits into a sinking fund that earns interest at an annual nominal rate of 8.8% compounded quarterly. What is the borrower's total cash outlay every 3 months? (A) 190.95 (B) 192.95 (C) 192.45 (D) 191.95 (E) 191.45