$$Inflation$,$ nominal interest$$ rates, and real rates.$$From $1991$ to$2000,$ the U$.$S$.$ economy had an annual inflation rate of around $3\mathrm{.}57\%.$ The historical annual nominal$$ risk$-$free rate for this same period was around $6\mathrm{.}32\%.$ Using the approximate nominal interest rate equation and the true nominal interest rate$$ equation, compute the real interest rate for that decade.

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Part $1$

What is the estimated real interest rate using the approximate nominal interest rate equation for that$$ decade?

enter your response here$\%($Round to two decimal$$ places.$)$