Your sister would like your help planning for her new daughter$$s

college education. She has estimated that the cost of $1$ year of

college $($tuition$,$ room, and board$)$ is currently $$60,000$ a year. The

cost of college is estimated to increase at an annual rate of $5\%.$

She would like you to figure out how much she would need to deposit

at the end of each month for the next $18$ years to cover her

daughter$$s four years of tuition assuming her deposits will earn

$12\%$ each year $(1\%$ a month$)($Note your account will earn interest a

$1\%$ a month even if you are not making monthly payments after you

stop paying in at the end of the $18$th$$year$).$