A bank account offers an interest rate of 4.06% (APR, compounded monthly). You plan to use this account to save money for a down payment on a house. You are considering two options:

• Plan A: Save $500 at the end of every month for the next 8 years, with the first deposit one month from today.
• Plan B: Save equal amounts at the end of every year for the next 8 years, with the first deposit one year from today.

How much would you have to save at the end of each year under Plan B in order to have the same total future value 8 years from now as you would have under Plan A?

Enter your answer to 2 decimal places, without any $ signs or commas, e.g. 1234.56.