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If Treasury bills are currently paying 4.7 percent and the inflation rate is 1.6 percent, what are the approximate and the exact real rate of

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If Treasury bills are currently paying 4.7 percent and the inflation rate is 1.6 percent, what are the approximate and the exact real rate of interest? (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.) Approximate real rate Exact real rate % %

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