A man aged 30 deposits $200 at the end of each month for 35 years into a registered retirement savings account fund paying interest at 6% compounded annually. Starting on his 65th birthday, he makes 120 equal monthly withdrawals from the fund at the beginning of each month. During this period, the fund pays interest at 3% compounded annually. Calculate the amount of each withdrawal (annuity payment). A timeline may assist you in solving this calculation.