Alma just turned 15 years old. Her parents started saving $300 each month for her college education when she was born. Her parents want to save at least $150,000 by the time she turns 18 to cover tuition expenses at a 4-year college. How much would they need to save each month for the next 3 years to reach their goal? Select one:

$700

$5,400

$2,700

$300