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Assume that the inflation rate during the last year was 1.62 percent. US government T-Bills had the nominal rates of return of 3.54 percent. What

Assume that the inflation rate during the last year was 1.62 percent. US government T-Bills had the nominal rates of return of 3.54 percent. What is the real rate of return for a T-Bill?

Round the answer to two decimal places in percentage form.

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