Business, 17.04.2020 17:03 Tink2334

Friendly Financial has $145 million in consumer loans with an average interest rate of 13 percent. The bank also has $103 million in home equity loans with an average interest rate of 11 percent. Finally, the company owns $32 million in corporate securities with an average rate of 10 percent.

Managers at Friendly Financial estimate that next year its consumer loan portfolio will rise to $168 million and the interest rate will fall to 10.5 percent. They also estimate that its home equity loans will fall to $80 million with an average interest rate of 9 percent, and its corporate securities portfolio will increase to $25 million with an average rate of 6 percent.

Required:
Estimate Friendly Financial’s revenues for the coming year. (Enter your answer in thousands of dollars.)

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Friendly Financial has $145 million in consumer loans with an average interest rate of 13 percent. T...