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Friendly Financial has $130 million in consumer loans with an average interest rate of 11 percent. The bank also has $86 million in home equity

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Friendly Financial has $130 million in consumer loans with an average interest rate of 11 percent. The bank also has $86 million in home equity loans with an average interest rate of 8 percent. Finally, the company owns $22 million in corporate securities with an average rate of 6 percent. Managers at Friendly Financial estimate that next year its consumer loan portfolio will rise to $203 million and the Interest rate will fall to 9 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 $23 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.) 2925 Answer is complete but not entirely correct. $ 252 500 X

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