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If Treasury bills are currently paying 6 percent and the inflation rate is 2.3 percent, what is the approximate and the exact real rate of

If Treasury bills are currently paying 6 percent and the inflation rate is 2.3 percent, what is the approximate and the exact real rate of interest? (Do not round intermediate calculations. Round your answers to 2 decimal places (e.g., 32.16).)

Approximate ...... %

Exact ......%

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