Kerry and Rob just had their first child, Helene. Being financially responsible parents, they want to start saving for Helene's college education so that they will have $355,000 by the time she is 18. Assuming that they have $10,000 in a bank account that pays 5% interest compounded monthly today, how much must they add to the account each month to have $355,000 by the time Helene is 18?
approx. $854
approx. $1021
approx. $743
approx. $655
approx. $946