proud parents wish to establish a collage savings fund for their newly born child. Monthly deposits will be made into an investment account that provides an annual rate of return of 4% compounded monthly. Four withdrawals from the savings fund will be made to pay for collage expenses. The estimated need is 25000 when the child turns 18 years old; $28000 at 19 years; $31,000 at 20 years; and 34,000 at age 21. The last monthly payment to the investment account occurs when the child returns 21. This is also the time that the last withdrawal is made. Determine the monthly deposit required to meet this goal.