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