[$500-$700] Check my computer build for graphic design? [EDITED]

Hi everybody. I'm looking to build a computer mostly for my graphic design and art courses next semester, but also for regular surfing and potential gaming whenever my budget would allow for a better graphics card. Does anyone have any recommendations? I'm really new to all this stuff and while my friend is willing to build it, it's my job to get all the right parts. I want the best I can get with the money I have, while allowing the most space for future upgrades. 

I have $700, though if possible, I'd really like to keep it less than $500 to allow for a better graphics tablet. (I don't expect that, but a girl can hope.) Anyways, I don't need an OS, monitor, keyboard, mouse, or case. I do, however, need at least 16 GB of RAM and at least a dual-core processor.

So, to summarize: 

Purchase Date: The sooner the better. Absolutely before September.
Budget Range: 500-700, after shipping. The more free shipping, the better.
System Usage: Photoshop, video editing, surfing, gaming.
Are you buying a monitor? Possibly.
Are you buying an OS? No.
Location: Toronto, Ontario
Overclocking: No. (?)
Notes: 16 GB RAM is a must. Dual-core to Quad-core is a must.

CPU: [$109.99] AMD FX-4100 3.6GHz Quad-Core Processor
Motherboard: [$109.99, free shipping] Gigabyte GA-970A-UD3 ATX AM3+ Motherboard 
Memory: [$81.87, free shipping] G.Skill Ripjaws X Series 16GB (2 x 8GB) DDR3-1333 Memory
HDD: [$106.98, free shipping] Western Digital Caviar Black 1TB 3.5" 7200RPM Internal Hard Drive
GPU: [$64.26, free shipping.] Gigabyte Radeon HD 4550 512MB Video Card
Power Supply: [$66.20, free shipping] Raidmax 730W ATX12V / EPS12V Power Supply

Which totals up to $539.29 CAD, plus shipping on one item. Given that I have a budget of up to $700, I may or may not also purchase this (http://item.mobileweb.ebay.com/viewitem?itemId=251125869164&index=15&nav=SEARCH&nid=31974322778) monitor.

Will these parts work? Are they okay? I already have a mouse, keyboard and operating system. (Windows 7 64-bit) Any suggestions?
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More about check computer build graphic design edited
  1. Hi, welcome to the forums!

    Which monitor and case do you have?
  2. The case is something I planned to pick up at one of the smaller computer shops around here. They run about $30-40 and will probably be the last thing I pick up.

    As of now, I have an old AccuSync LCD 72VX monitor. Not sure what the specifics are, but I'm looking to buy a new one anyways.
  3. That mostly looks OK but the PSU looks low quality and that GPU is ancient. I'd look for a ~400W Corsair/Seasonic/XFX/Antec/OCZ etc.

    For a GPU at that price, I guess you would be looking for the HD 6570 or something.
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