One calculation question for practice. What is the monthly payment on a $30-$year fixed rate mortgage with an annual rate of $5\mathrm{.}5\%$ and a balance of $$200,000?$

Please enter the amount in dollars but without the dollar sign. I recommend keeping $2$ decimal places in your answer, even though it's not always necessary since Brightspace will accept answers within $2\%$ margin of error.

For example, if you got $$1234\mathrm{.}5678,$ enter $1234\mathrm{.}57$ or $1,234\mathrm{.}57($Blackboard ignores commas$).$ Do not enter $"$$$1234\mathrm{.}5678"$ or $"1234\mathrm{.}5678$ dollars" or $"1234,57".$ If the correct answer is indeed $1234\mathrm{.}57,$ then Blackboard will accept all answers between $1234\mathrm{.}57*\mathrm{.}98=1209\mathrm{.}88$ and $1234\mathrm{.}57*1\mathrm{.}02=1,259\mathrm{.}26.$ For example, the rounded answer $1235$ will be accepted, but $1200$ will not be accepted.

Hint: I recommend using the Excel file on Brighspace to do this question.

If you use a calculator instead of Excel and round your intermediate calculations, keep at least $4$ decimal places in all your intermediate calculations $($this is especially important for the monthly interest rate$).$