Sarah plans to contribute monthly to a savings account for her daughter's college education. Her goal is $300,000 in 20 years. Assume the APR is 5.4% compounded monthly and contributions are made monthly at the end of each month, including the last month. What amount does Sarah need to contribute each month? Round your answer to the nearest cent.
◦ $696.75
◦ $688.66
◦ $459.57
◦ $756.95
◦ $642.81