Revere College predicts that in 6 years it will take $150,000 to attend the college for four years. Emma has a substantial amount of cash and wishes to invest a lump sum of money for her child’s...

Revere College predicts that in 6 years it will take $150,000 to attend the college for four years. Emma has a substantial amount of cash and wishes to invest a lump sum of money for her child’s college fund. How much should Emma put aside in an account with an APR of 7% compounded monthly in order to have $150,000 in the account in 6 years? Round your answer to the nearest cent, if necessary.