How does one conclude that a function maps closed sets to closed sets?

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Let $f:(X,d_X)\to(Y,d_Y)$ be an equivalence (this means that $f$ is Lipschitz continuous, bijective and $f^{-1}$ is Lipschitz continuous). Let $K \subset X$. We want to prove that $K$ is closed and bounded iff $f(K)$ is closed and bounded.

Somewhere along the way in the proof, my instructor noted that, because $f$ is, in particular, continuous, bijective and $f^{-1}$ is continuous, then $f$ is a homeomorphism.

Then it is concluded that $K$ is closed in X iff $f(K)$ is closed in Y.

I'm unable to find this result in my notes or in the textbook I'm using for the class, moreover, when I looked it up, it is generally not true that a homeomorphic function always maps closed sets to closed sets.

So I think I made a mistake while taking the notes, there's something I missed, or the conclusion that $K$ is closed in $X$ iff $f(K)$ is closed in $Y$ comes from the fact that $f$ is an equivalence and not the fact that it is homeomorphic. However, I don't know which one is the correct option.

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Let $f :X \to Y$. Here are three exercises that answer your question:

1.) Prove that $f$ is continuous if and only if, if $O$ is open in $Y$, then $f^{-1}(O)$ is open in $X$.

2.) Use properties of the preimage to conclude that the above is equivalent to preimages of closed sets being closed.

3.) Conclude homeomorphisms send closed sets to closed sets, both ways.

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The preimage of a closed set under a continuous function is a closed set. If $f$ is a homeomorphism then in particular it is continuous and its inverse is continuous. Therefore $K\subseteq X$ is closed if and only if $f(K)\subseteq Y$ is closed.