Andrea is buying a house for $120,000. She plans to make a 12 % down payment. Closing costs include $950 for 6 months of homeowners insurance, $1150 for 6 months of property tax, $100 for the title fee, and $350 in transaction fees. Andrea also agreed to pay two points in exchange for a 0.5% reduction in interest rate. Determine the amount of money Andrea needs to cover closing costs. Round your answer to the nearest cent.