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Wittaler [7]
3 years ago
7

Friendly Financial has $230 million in consumer loans with an average interest rate of 19 percent. The bank also has $148 millio

n in home equity loans with an average interest rate of 14 percent. Finally, the company owns $38 million in corporate securities with an average rate of 11 percent.
Managers at Friendly Financial estimate that next year its consumer loan portfolio will rise to $372 million and the interest rate will fall to 17 percent. They also estimate that its home equity loans will fall to $130 million with an average interest rate of 14 percent, and its corporate securities portfolio will increase to $40 million with an average rate of 11 percent.
Required:(a) Estimate Friendly Financial’s revenues for the coming year. (Enter your answer in thousands of dollars.)
Business
1 answer:
Pachacha [2.7K]3 years ago
7 0

Answer:

$85.84 Million

Explanation:

Interest Income has been calculated as under:

Income on Consumer Loan = $372 * 17% =         $63.24 Million

Income on Home Equity = $130 * 14% =               $18.2   Million

Income on Consumer Loan = $40 * 11% =          <u>  $4.4     Million</u>

Total Income                                                        $85.84 Million

So the total income that the Friendly Financial will earn from the money invested will be $85.84 million.

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Differentiate between import qouta and import duty?
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Answer:

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2 years ago
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Get-away represents lifestyle segmentation.

<h3>What is lifestyle segmentation?</h3>
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8 0
2 years ago
Upon graduating from college, you make an annual salary of $58,381. You set a goal to double it in the future. If your salary in
Fynjy0 [20]

Answer: 9.20

Explanation:

In finance there is a rule for calculating this called 'The Rule of 70'.

With The Rule of 70, you are able to calculate the amount of time it will take an investment to double if you divide 70 by the growth rate of the investment.

In this scenario, the investment is your salary and the growth rate is 7.61% pee year.

The amount of time it will take to double is therefore,

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The history of game designs can be traced to William Higinbotham, a Physicist who created the first video game in 1958 at the age of 48 years.

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