$5$ years ago a couple bought a house with a $$706,00025-$year housing loan at a rate of $4\mathrm{.}7\%$ per annum compounding monthly and they have paid all required monthly loan repayments to date. Now they want to start a family but are concerned about the costs of raising children. Their very generous parents are keen to become grandparents and have just gifted them $$83,000$ to reduce the principal on their loan. Assuming they do this and adjust their loan repayments to be the minimum required payment amount in order to fully repay the loan by the original $25$ year end date, how much will this reduce their monthly loan repayment by$?$

Type your answer into the box as dollars and cents.