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What is the formula to conclude the answer for this? Thank you for your help! You need to save $7,000 for a trip. In order

What is the formula to conclude the answer for this? Thank you for your help!

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You need to save $7,000 for a trip. In order to reach your goal, you decided to take your savings into an account that earns 7 percent. You plan to go to this trip in two years. How much do you need to save each month? Select one: a. 3,381.64 O b. 6,114.07 C. 272.57 d. 6,087.98

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