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  3. friendly financial has $190 million in consumer lo

Friendly Financial has $190 million in consumer loans with an average Interest rate of 15...

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Accounting

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Friendly Financial has $190 million in consumer loans with an average Interest rate of 15 percent. The bank also has $116 million in home equity loans with an average Interest rate of 10 percent . Finally, the company owns $26 milion in corporate securities with an average rate of 7 percent Managers at Frendly Financial estimate that next year is consumer loan portfolo will rise to $236 million and the Interest rate will fall to 13 percent. They also estimate that its home equity loans will fall 10 Sto minon with an average Interest rate of 12 percent, and its corporate securities portfolio will increase to $34 million with an average rate of percent Required: Estimate Friendly Financial's revenues for the coming year (Enter your answer in thousands of dollars.) Wees roue

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