Good fellow national bank decided to compete with a savings and loan by offering 30 year fixed rate mortgage loans at 8% annual interest. It plans to obtain the money got the loans by selling one year 6% CD to it's depositors. During first year of operation, good fellows sold it's depositors 1,000,000 worth of 7% one year Cd and homeowners take out 1,000,000 worth if 8% 30 year fixed rate mortgages.
A. Considering only the info above, what is good fellows GP for first year of operation?