Example #1: Zelda and Zues are making an offer on a home they wish to purchase. Their offer is at the suggested purchase price of $425,000. They will make a 20% down payment and will buy three points at closing.

What is the down payment amount, expressed in dollars and cents with commas and dollar sign?

What is the value of the three points, based on standard percentages? Express the answer in dollars and cents with commas and dollar sign.

What is the amount of the mortgage they will seek? Express the answer in dollars and cents with commas and dollar sign.