Emily and Matt, and their many dogs and cats, decide to purchase a new home. The purchase price of the home is $235,000. Emily and Matt have decided to make a down payment of 10% and finance the remaining amount with a 30-year home mortgage loan with an annual percentage rate of 4.25% compounded monthly. Compute Emily and Matt's monthly mortgage payment under this loan. Give your answer as a decimal rounded to the nearest hundredth.
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