2.4 Proud parents wish to establish a college savings fund for their newly born child. Monthly deposits will be made into an investment account that pro- vides an annual rate of return of 4% compounded monthly. Four withdrawals from the savings fund will be made to pay for college expenses. The estimated need is $25,000 when the child turns 18 years old; $28,000 at 19 years; $31,000 at 20 years; and $34,000 at age 21. The last monthly payment to the investment account occurs when the child turns 21. This is also the time that the last with- drawal is made. Determine the monthly deposit required to meet this goal.