On the date of his granddaughters birth, Mr. Parry deposited $5000 in a trust fund earning 6.2%

Question:

On the date of his granddaughter’s birth, Mr. Parry deposited $5000 in a trust fund earning 6.2% compounded annually. After the granddaughter’s nineteenth birthday, the trust account will make end-of-month payments to her for four years to assist with the costs of post-secondary education. If the trust account earns 4.8% compounded monthly during these four years, what will be the size of the monthly payments?