Exactly 30 years from today, Formosa Plastics Corporation must pay you $1,890,000 as part of a court settlement because they polluted your property. If Formosa Plastics earns a 9.83 percent interest rate compounded monthly, how much must the corporation save each month in order to have the full settlement amount available in 30 years?

Multiple Choice $859.88 $988.76 $866.92 $924.71 $5,250.00