Please show your work! Thanks! Brown is considering setting up a college fund for her grandson.

Need help with a simple question. Please show your work! Thanks!

Mrs. Brown is considering setting up a college fund for her grandson. Mrs. Brown wants to pay her grandson's tuition fees of $5,000 each year for four years. Assume that she saves an equal amount each year, and the first deposit is made one year from now. Interest rates will remain constant at 8 percent.

How much must Mrs. Brown save each year? Assume her grandson will go to college in 18 years and tuition fees are paid once a year at the beginning of the year.