You have just left the office of your Patent Lawyer. They told you that no one will fund the next…

You have just left the office of your Patent Lawyer. They told you that no one will fund the next stage of development for your patented idea. You decide to continue working and save money to fund it yourself; $250,000 is required to start the next development stage. You want to start the next stage in about 4 years. You’ll deposit 48 equal amounts monthly (starting today) into an investment account. If 8% compounded monthly is being paid, what will you deposit every month? Draw a cash flow diagram.