You are in the process of developing a saving plan to put your kid through college. Your kid is 3 years old and you expect her/him to start college in 15 years? The Kid is expected to be in college for 4 years. Today, the cost of 1 year of college is $20,000 and it is expected to increase by an average of 4% annually for ever. You would like to make fifteen equal deposits (the 1^st to be made today) in an account that pays 7% annual interest so that you will accumulate enough funds to cover the college expenses of your kid. To the nearest dollar, how much must your deposit be?