Your son just turned 10 years old. He will need $40,000 at the beginning of each year for 4 years starting on his 19th b

[answerhappygod]

Your son just turned 10 years old. He will need $40,000 at the
beginning of each year for 4 years starting on his 19th
birthday to attend university. You also wish to gift him
$50,000 upon graduation. How much must you put aside every
month, at the beginning of the month, starting today, to fund his
education and gift, if you foresee earning a return of 5%,
compounded monthly? Round to the nearest dollar.