Jane has just turned 20 years old and currently has no investments. She plans to invest $5,500 at the end of each year for eight years, starting 5 years from today. Assume the rate of return on her investment is 9%, compounded daily. Jim is 40 years old and he has just started to invest an equal monthly amount at the beginning of every month. He will invest for the next 10 years. The rate of return on his investment is expected to be 10%, compounded quarterly. Determine the monthly payment Jim has to make in order to have the same present value as Jane.