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13-17 EZ-Credit, Inc., has $80 million in consumer loans with an average interest rate of 13.5 percent. The bank also has $64 million in home
13-17 EZ-Credit, Inc., has $80 million in consumer loans with an average interest rate of 13.5 percent. The bank also has $64 million in home equity loans with an average interest rate of 9 percent. Finally, the company owns $6 million in corporate securities with an average rate of 6 percent. EZ-Credit estimates that next year its consumer loan portfolio will rise to $84 million and the interest rate will fall to 12 percent. Its home equity loans will fall to $60 million with an average interest rate of 8 percent, and its corporate securities portfolio will increase to $16 million with an average rate of 7 percent. Required: Estimate EZ-Credit's revenues for the coming year. (Enter your portfolio answers in million and income in thousands. Omit the "$" and "%" signs in your response.) Portfolio Amount Interest Rate Income (thousands) Consumer loans $ million % $ Home equity loans million Securities million Total $
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