Karen has to make rental payments of $1,000 at the start of every month, throughout the four year duration of her university course. Her University fees are $4,000 to be paid at the start of each year. She earns $1,500 per month (paid at the end of each month) from a part time job.

Assume an interest rate of 8% p.a. and that she keeps the part time job for the next four years. How much money, in present value terms, can she withdraw each month for the next four years?