If Treasury bills are currently paying 6.55 percent and the inflation rate is 1.2 percent, what is the approximate and the exact real rate of interest? Note: 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 3.85 % 3.77 %

If Treasury bills are currently paying 6.55 percent and the inflation rate is 1.2 percent, what is the approximate and the exact real rate of interest? Note: Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16