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Consider the following table for a seven-year period: Consider the following table for a seven-year period Returns Year US. Treasury Bills Year 1 Year 2

Consider the following table for a seven-year period:

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Consider the following table for a seven-year period Returns Year US. Treasury Bills Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Inflation 3.80 % 3.65 4.55 4.97 2.77 1.65 1.38 -2.36 0.68 -6.50 -9.42 -10.37 Required: What was the average real return for Treasury bills for this time period? (Do not round intermediate calculations. Enter your answer as a percentage rounded to 2 decimal places (e.g., 32.16).) Average real return%

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