2. Congratulations! You have just been blessed with a bouncing baby boy! You estimate that your son will start college 18 years from today, and you wish to start saving immediately. You want to follow an aggressive investment strategy and make deposits at the end every month for the next 17 years into a mutual fund that earns 16.2%. Assume that these monthly deposits are of equal magnitude. At the end of the seventeenth year, you will withdraw the money from the mutual fund and place it in a savings account that earns 4 percent compounded quarterly. You will make tuition payments from this account. You estimate that tuition will cost $22,000 per year for the four years. Given your investment strategy, how much will you need to deposit in this mutual fund each month? (Hint: Asking for a monthly 'C') Assume the following: (20 points) e The expected return on the mutual fund will be the same each year, 16.2%, for the next seventeen years. (Hint: Monthly payments suggest monthly compounding.) e The expected return on the mutual fund is an annual percentage rate (A.P.R.) e The first deposit to the mutual fund will be made one month from today. e The first tuition payment is made one-year after the savings account is opened (at the end of year 18)