The Smith family is planning for their daughter's education. She just turner 5 years old and will be 18 when she starts university. They are planning to make monthly deposits of $300 into an RESP (Registered Educational Savings Program). Deposits are made at the end of each month. They anticipate that they can earn a return of 4.8% APR compounded monthly on their RESP. When their daughter starts university, she will withdraw $20,000 to pay for her 1st year. The balance will be paid out at the end of each year (end of 1st , end of 2nd and end of 3rd) in equal amounts to pay for the subsequent years. During those 3 years the Smith's hope that the account will earn 6% APR compounded annually. How much can their daughter expect to withdraw each year?