Low-risk investors should assume an interest rate of 6% annually. Moderate-risk investors should use 8%, high-risk investors should assume 10%, and ultra high-risk investors should use 12%. For purposes of this calculation, ignore any Social Security benefit received.

Assume you are 22 years old and want to be a millionaire at retirement (age 65). How much do you need to save each month to reach your goal if you are a high-risk investor?

A - 117

B - 704

C - 1,688

D - 1,803