Liz and Bob just had a baby named Isabelle, and they want to save enough money for Isabelle to go to college. Assume that they start making monthly payments when Isabelle is into an ordinary annuity earning , and they calculate that they will need by the time Isabelle turns . How much should they deposit every month so that they reach their goal?

Deposit amount =

Note: Your answer is a dollar amount and should include a dollar sign