you will need $52,000$ per year for four years of college. Your parents finance this by making monthly deposits of K into a mutual fund on your behalf. They make the first deposit one month after you are born and continue monthly deposits until vou are age $18.$ The first withdrawal is made at age $18$ and three more withdrawals are made each year after, on your birthday. The mutual fund earns a nominal $7\mathrm{.}2\%$ interest convertible monthly until your age $18,$ and then earns $8\mathrm{.}2\%$ annual effective interest. Calculate K$.$