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A lender estimates that the closing costs on a $312,500 home loan will be $12,500. The actual closing costs were 4. 25% of the loan amount. Determine if the closing costs were higher or lower than the
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43 votes
43 votes
A lender estimates that the closing costs on a $312,500 home loan will be $12,500. The actual closing costs were 4. 25% of the loan amount. Determine if the closing costs were higher or lower than the estimate and by what percent. A. Higher by 0. 125% b. Higher by 0. 25% c. Lower by 0. 125% d. Lower by 0. 25% Please select the best answer from the choices provided A B C D.

User Ntombela
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1 Answer

22 votes
22 votes

Answer:

B

Step-by-step explanation:

Because i belive that is would be lower due to the cost of the homes total.

User Calmar
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3.2k points
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