A couple wishes to establish a college fund at a bank for their seven-years-old child. The college fund will earn 10% interest compounded monthly. Assuming that the child enters university at age 18, the family estimates that amount of SR18,000 per year, in terms of today's dollars will be required to support the child's university expenses for four years. College expenses are estimated to increase at an annual rate of 9%. Determine the equal monthly deposit amounts the family must save until they send their child to university. Assume that the first deposit will be made at the end of first month and that deposit will continue until the child reaches age 17. The child will enter college at age 18, and annual college expense will be paid at the beginning of each college year. In other words, the first withdrawal will be made when the child is 18.