A man plans to pay his daughter's university tuition fees for 4 years starting 18 years from now. The current annual cost of university is $9,200, and they expect this cost to rise at an annual rate of 2%. In his planning, he assumes that the appropriate discount rate is 3% per annual. How much must he saves each year, starting next year, if he plans to make 17 identical payments? Calculations step by step please