1. Amens son who is 2 years will begin College when he is 18. The cost of college now is $10,000 per academic year and he anticipates that college cost will increase at the rate of 6% annually until his son enters college. He expects to receive 8.5% returns on his investment earmarked for this purpose. If his son will enter college for 8 years because he wants him to become a medical doctor, how much money should Amen save every month to achieve this purpose?