Q$7)$ You are attempting to save for a trip to Europe to celebrate your graduation from

college. You estimate that you will need $$4,000$ to provide you with a $10-$day trip to

Europe when you graduate in $24$ months. You currently have $$1,500$ in savings that you

can put toward the trip and plan to save on a monthly basis for the next $24$ months to

accumulate the funds required for the trip. You will be putting the money in a tax$-$exempt

money market fund that is currently yielding an annual rate of $3\mathrm{.}5\%$ with monthly

compounding. Your first monthly payment will be made a month from today. How much

will you need to save each month to have the money for the trip?

$($$$96\mathrm{.}38)$