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Maya is buying a house for $ 1 4 0 , 0 0 0 . She plans to make a 1 8 % down payment.

Maya is buying a house for $140,000. She plans to make a 18% down payment. Closing costs include $850 for 6 months of homeowners insurance, $900 for 6 months of property tax, $100 for the title fee, and $350 in transaction fees. Maya also agreed to pay two points in exchange for a0.5% reduction in interest rate. Determine the amount of money Mayawill be expected to pay at closing. Round your answer to the nearest cent.

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