investor plans to pay his son’s university tuition fees for 4 years starting 18 years from now. The current annual cost

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investor plans to pay his son’s university tuition fees for 4
years starting 18 years from now. The current annual cost of
university is £9,200, and they expect this cost to rise at an
annual rate of 2%. In his planning, he assumes that the appropriate
discount rate is 3% per annual. How much must he saves each year,
starting next year, if he plans to make 17 identical payments? Show
all the calculations step-by-step. Formulas and diagram(s) are
essential.