Assume that your sister has asked that you help her plan for her daughters education. Her daughter will start school exactly 18 years from today. She believes that when her daughter starts school it will cost $40,000 each year for four years to cover the cost of tuition, books and living expenses. Her daughter will need to withdraw the first $40,000 payment in exactly 18 years and then will take another payment of $40,000 each year at the beginning of each school year. How much would your sister need to deposit at the end of each month to save enough money for her daughters education assuming she earns an annual rate of 6% and stops saving when her daughter enters college?