Jamie Lee knows how hard it is to go to school, take on debt, and try to fulfill her dreams. Her sister, Rebecca, recently had a baby girl named Alexis. Jamie Lee would like to set aside a small amount per month towards Alexis$$s education expenses. Jamie Lee realizes this will not cover all of the costs but, she wants to help in a small way.

After researching college costs and investments, Jamie Lee has the following information:

Current cost of college education: $$20,000$ per year

$($Alexis will attend college in $18$ years for $4$ years.$)$

Expected annual inflation: $3\%$

Expected rate of return on investment: $9\%$