Suppose a newlywed couple is planning to buy a home two years from now. To save the down payment required at the time of purchasing a home worth $350,000 (let’s assume this required down payment is 20% of the sales price, or $70,000), the couple has decided to set aside some money from their salaries at the end of each month. If the couple can earn 6% interest (compounded monthly) on their savings, determine the equal amount the couple must deposit each month so that they may buy the home at the end of two years.