You and your spouse just had a baby! You've begun to think about all the things required to fully finance a family. In particula you are considering exorbitant cost of college! You plan for your child to attend Florida A&M University beginning on his 19th birthday. The current cost of attending FAMU is $11,500 per year for in-state students living on campus. This cost increases at per year. You plan for your child will take 4 years to complete colllege. Beginning on his 19th birthday, you will need to make a lump sum payment to cover his costs each year for 4 years. To save for college costs, you have found a 529 plan in which you can invest money at 12% interest per year. Beginning at the end of this year, you plan to deposit a fixed amount of money into this account every year until your child graduates from high school on his 18th birthday. How much money do you need to deposit in your 529 plan account each year?