If the expected inflation rate of the Australian economy is $1\mathrm{.}75\%$ in $2021,$ what is the real interest rate for a homeowner paying his mortgage rated at $2\mathrm{.}85\%$ per annum? $($Use the appropriate real interest rate formula$)$

Provide your answer in percentage form $($e$.$g$.$ an interest of $5\mathrm{.}2\%$ should be entered as $5\mathrm{.}20)$ to $2$ decimal places. Do not include any $ or $\%\text{'}$s in your response.