Ez-credit inc has 80 million in consumer loans with an, Ask an Expert

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EZ-Credit, Inc., has $80 million in consumer loans with an average interest rate of 13.5 percent. The bank also has $64 million in home equity loans with an average interest rate of 9 percent. Finally, the company owns $6 million in corporate securities with an average rate of 6 percent.

EZ-Credit estimates that next year its consumer loan portfolio will rise to $84 million and the interest rate will fall to 12 percent. Its home equity loans will fall to $60 million with an average interest rate of 8 percent, and its corporate securities portfolio will increase to $16 million with an average rate of 7 percent.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91765560

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