Mr. Walt would like to make regular savings for his daughter's college education. She has just started her 9th grade at Swift high school and plans to attend Illinois University right after the 12th grade. Assuming that Mr. Walt will make the first savings one month from today and make the last savings four years from today, how much must Mr. Walt save each month for his daughter to spend personal expenses of $1,000 per month while she attends the 4-year Illinois State University? Assume that each cash flow occurs at the end of the period and the current interest rate is 6% APR.