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Friendly Financial has $200 million in consumer loans with an average interest rate of 16 percent. The bank also has $124 million in home equity
Friendly Financial has $200 million in consumer loans with an average interest rate of 16 percent. The bank also has $124 million in home equity loans with an average interest rate of 11 percent. Finally, the company owns $29 million in corporate securitles with an average rate of 8 percent. Managers at Friendly Financial estimate that next year its consumer loan portfolio will rise to $270 million and the interest rate will fall to 14 percent. They also estimate that its home equity loans will fall to $110 million with an average interest rate of 12 percent, and its corporate securities portfolio will increase to $34 million with an average rate of 9 percent. Required: Estimate Frlendly Financial's revenues for the coming year. (Enter your answer in thousands of dollars.) Interest tovane
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