Problem 7-12 Calculating Real Rates of Return [LO4] Treasury bills are currently paying 6 percent and the inflation rate is 3 percent. a. What is the approximate real rate of interest? (Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) What is the exact ral rate? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) b. a. Approximate real rate b. Exact real rate