Stephanie wants to save for her daughter's education. Tuition costs $20,000 per year in today's dollars. Her daughter tu

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Stephanie wants to save for her daughter's education. Tuition
costs $20,000 per year in today's dollars. Her daughter turns 3
today and will go to school starting at age 18. Several years ago,
Stephanie established a portfolio for education. The portfolio
value as of today is $8,000 and earns an average rate of turn of
12%. The tuition inflation is expected to be 6%. If Stephanie want
to fund 4 years college for her daughter, how much must she save at
the end of each year assuming she wants to make her last savings
payment at the beginning of her daughter's first year of
college?
$3,112.57
$3,187.12
$3,569.57
$3,667.96