Consider the following table for a seven-year period: Returns Year U.S. Treasury Bills Inflation

US Treasury Bills Inflation

Year 1 3.95 % 1.25 %

Year 2 3.80 2.39

Year 3 4.70 1.29

Year 4 5.12 0.71

Year 5 2.92 6.53

Year 6 1.80 9.45

Year 7 1.53 1.40

What was the average real return for Treasury bills for this time period? (Enter your answer as a percent rounded to 2 decimal places)