A lender estimates that the closing costs on a $165,000 home loan will be $6,187. 50. The actual closing costs were 3. 5% of the loan amount. Determine if the closing costs were higher or lower than the estimate and by what percent? a. Higher by 0. 25% b. Higher by 0. 5% c. Lower by 0. 25% d. Lower by 0. 5% Please select the best answer from the choices provided A B C D.
