Brianna is buying a house for $160,000 . She plans to make a 10% down payment. Closing costs include $650 for 6 months of homeowners insurance, $1200 for 6 months of property tax, $125 for the title fee, and $500 in transaction fees. Brianna also agreed to pay two points in exchange for a 0.5% reduction in interest rate. Determine the amount of money Brianna needs to cover closing costs. Round your answer to the nearest cent