Sinclair does not believe in debt and will only pay cash for all purchases. He has already saved up $140546 toward the purchase of a new home with an estimated cost of $300,000. Suppose his investments earn 7.5% compounded monthly. How much does he need to contribute at the beginning of each quarter if he wants to purchase his home in five years?

Select one:

a. $3910.76

b. none

c. $2910.76

d. $4910.76