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Consider the following table for a seven-year period: Returns Year U.S. Treasury Bills Inflation 1 4.25 % 1.31 % 2 4.10 2.45 3 5.00 1.35

Consider the following table for a seven-year period:

Returns
Year U.S. Treasury Bills Inflation
1 4.25 % 1.31 %
2 4.10 2.45
3 5.00 1.35
4 5.42 .77
5 3.22 6.59
6 2.10 9.51
7 1.83 1.46

What was the average real return for Treasury bills for this time period? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

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