Gregory is hoping to purchase a nice new car for $32,000 in two years. At that time he plans on taking out a 5-year loan with monthly payments and an APR of 5.4%. Based on his estimated earnings, Greg thinks he will be able to afford monthly payments of $500 per month. Greg plans on saving for the difference between the cost of the car and the amount he'll borrow by making monthly deposits over the next two years in a bank account that yields an annual rate of 3%. What is the amount of the monthly savings deposits Greg will need to make in order to have the amount he needs for a down payment on the car he wants?