First Business Day in Year Chosen (A) One-Year Nominal Treasury Rate on that Day (B) Chosen Year's Annual CPI(%) (C) Chosen Year's Annual Implicit Price Deflator (%) (D) Year's Real Rate based on CPI = (B-C) Year's Real Rate based on Implicit Price Deflator = (B- D) - 14.504 -58.963 -100.771 1970s 1990s 2010s 01/02/1970 01/02/1980 01/04/2010 8.28 7.81 .45 5.83826 5.39796 1.64004 22.784 66.773 101.221 2.44174 2.41204 - 1.19004 In which years was it better to be a borrower? Explain. In which years was it better to be an investor? Explain