the answer should be 216.84

Here is some of the textbook to help understand.

8-53. Eric, aged 40, purchases a deferred life annuity which will provide beginning of monthly payments of 300 at the beginning of each month commencing at age 60. Eric pays a premium at the each year for the next 20 years. His first premium is 4000, and the remainder are each equal to X. Find X if D40 = 500, No 8600, D60 = 120, and N60 1000. 8-54. Again consider Eric's purchase of the deferred life annuity in Question 53. This time, if Eric dies before reaching age 60, net premiums paid prior to death are refunded with interest. Using the same data as in Question 53, and assuming.08, find X