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please help to answer the question with a clear and correct answer. Thank you! Gladys Bank and Trust has $420 million in consumer loans with
please help to answer the question with a clear and correct answer. Thank you!
Gladys Bank and Trust has $420 million in consumer loans with an average interest rate of 7.85 percent. The bank also has $300 milion in home equity loans with an average interest rate of 5 percent. Finally, the company owns $120 million in government securitles with an average rate of 3 percent. Managers at Gladys Bank and Trust estimate that next year its consumer loan portfolio will fall to $380 million and the interest rate will increase to 9.35 percent. They also estimate that its home equity loans will increase to $340 million with an average interest rate of 7 percent, and its government securities portfolio will increase to $135 million with an average rate of 12.50 percent Required: Estimate the revenues for the coming year for Gladys Bank and Trust. Note: Enter your answer In thousands of dollarsStep by Step Solution
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