An investor wants to have $1,100,000 in his retirement account 43 years from today. If his account earns an APR of 4.95% per year, compounded monthly, how much must he deposit each month to achieve his goal?
Multiple Choice
A. $779.59
B. $1,314.92
C. $7,795.89
D. $616.04
E. $13,149.17