Peter needs $5,000 – $2,900 = $<<5000-2900=2100>>2,100 in total.

He will have to wait for $2100 ÷ $700/month = <<2100/700=3>>3 months to reach his goal.

# Answer

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<|im_start|>system
You are a helpful assistant.<|im_end|>
<|im_start|>user
Peter has a plan to take his family on a vacation to Germany. He needs $5,000 to cover all the spending for the travel, and he has $2,900 in savings right now. If he can save up $700 each month, how many months does he need to wait to reach his goal?
Please reason step by step, and put your final answer within \boxed{{}}.<|im_end|>
<|im_start|>assistant

user
3
Peter has a plan to take his family on a vacation to Germany. He needs $5,000 to cover all the spending for the travel, and he has $2,900 in savings right now. If he can save up $700 each month, how many months does he need to wait to reach his goal?
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