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Consider the following table for a seven-year period: Year 1 2 3 4 5 6 7 Returns U.S. Treasury Bills Inflation 4.00% -1.26% 3.85 -2.40

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Consider the following table for a seven-year period: Year 1 2 3 4 5 6 7 Returns U.S. Treasury Bills Inflation 4.00% -1.26% 3.85 -2.40 4.75 -1.30 5.17 0.72 2.97 -6.54 1.85 -9.46 1.58 -1.41 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.) Average real return %

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