Jane and Steve just celebrated their son Joe's first birthday with a party. During the party, Steve's mother asked what he and Jane were doing to prepare for Joe's college education. Jane and Steve had not yet considered this, but the question put the need on their radar. Jane and Steve now wonder how much they should be putting away monthly for his college education. Neither are high-wage earners, Jane is a middle school English teacher and Steve is a gold coach at the high school. At most, they think that an in-state university education would be in reach.

The mutual fund account Jane and Steve plan to use to fund Joe's college pays 12% interest, compounded monthly. They will make the monthly deposits at the beginning of the month. How much monthly should Jane and State save to meet this goal?

Round to the nearest whole dollar. Format answer as follows: X,XXX