Frank plans to retire in 18 years. He wants you to assume he will be retired for 24 years before he dies. You calculated that Frank needs $1,219,212 as a lump sum at the beginning of retirement. Use an investment return of 4 percent and an inflation assumption of 2.2 percent. How much money will he need to save monthly to have this amount when he begins retirement? (Round the final answer to 2 decimal places)