Consider the drug Sovaldi. Marketed by Gilead Sciences for the treatment of hepatitis C, Sovaldi has cure rates of 30% to 97%, depending on the type of hepatitis C virus. In 2014, shortly after the drug was approved, the list price for a 12-week treatment in the United States it was $84,000. For many representatives in Congress, this was an outrageous price, prompting the US Senate Finance Committee to conduct an eighteen-month investigation into Gilead's pricing strategy.

Now consider purchasing a one-time cure for a debilitating disease like hepatitis C the same way a potential car owner buys a car. Just as a Tesla provides the car owner with a perpetual stream of services to drive that car, a cure can be thought of as a perpetual stream of health benefits for the patient to live in a healthy body. From this perspective, we can match the flow of payments with the flow of health benefits, turning the cost into a much more manageable monthly mortgage. Given a stated loan term of 10 years and a fixed monthly interest rate of 0.4167%, calculate the monthly payment for a cure that costs $84,000. (Note: Your answer must be expressed to 2 decimal places.)

Monthly payment = $_____

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