Joe has two daughters, Jane (6 years old) and Terry (1 year old). They are expected to go to college when they are 18. Joe will finance four (4) years of education for each of his daughters. Current college related costs are $20,000 per year, and growing at 5.0%. Jim currently has $50,000 in the education investment account. This education account has a rate of return of 8.5%. How much must Jim save at the end of each year to finance his both of his daughters education? He is willing to keep saving until his youngest child (Terry) graduates from college.