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Friendly Financial has $115 million in consumer loans with an average interest rate of 10 percent. The bank also has $79 million in home equity

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Friendly Financial has $115 million in consumer loans with an average interest rate of 10 percent. The bank also has $79 million in home equity loans with an average interest rate of 8 percent. Finally, the company owns $23 million in corporate securities with an average rate of 7 percent. Managers at Friendly Financial estimate that next year its consumer loan portfolio will rise to $237 million and the interest rate will fall to 8 percent. They also estimate that its home equity loans will fall to $70 million with an average interest rate of 8 percent, and its corporate securities portfolio will increase to $25 million with an average rate of 7 percent. Required: Estimate Friendly Financial's revenues for the coming year. (Enter your answer in thousands of dollars.) Friendly Financial has $115 million in consumer loans with an average interest rate of 10 percent. The bank also has $79 million in home equity loans with an average interest rate of 8 percent. Finally, the company owns $23 million in corporate securities with an average rate of 7 percent. Managers at Friendly Financial estimate that next year its consumer loan portfolio will rise to $237 million and the interest rate will fall to 8 percent. They also estimate that its home equity loans will fall to $70 million with an average interest rate of 8 percent, and its corporate securities portfolio will increase to $25 million with an average rate of 7 percent. Required: Estimate Friendly Financial's revenues for the coming year. (Enter your answer in thousands of dollars.)

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