Cynthia currently has $31,000 in her RRSP. She plans to contribute $5000 at the end of each year for the next 17 years and then use the accumulated funds to purchase a 20-year annuity making month-end payments. If her RRSP earns 8.75% compounded annually for the next 17 years, and the fund from which the annuity is paid will earn 8.25% compounded monthly, what monthly payments will she receive?

*Please show steps to solution so I can follow, thank you!*