To build a new basketball stadium, Camden University borrowed $4,250,000 at an effective rate of 4.25% for 5 years. To make sure the university has the money needed to replay the loan when it comes due, Rutgers is making deposits into a sinking fund at the beginning of each quarter. The sinking fund pays them 3.21% annually.

a. How much will they need to have at maturity to pay off this loan all at once?

b. How much should each sinking fund payment/deposit be?