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Suppose we have the following Treasury bill returns and inflation rates over an eight year period: Year Treasury Bills Inflation 1 10.77% 13.17% 2 11.69

Suppose we have the following Treasury bill returns and inflation rates over an eight year period:

Year Treasury Bills Inflation
1 10.77% 13.17%
2 11.69 16.35
3 9.38 10.62
4 8.65 8.27
5 9.20 10.62
6 11.56 13.11
7 14.45 17.33
8 16.33 17.27

c.

What was the average real return for Treasury bills over this period? (Negative amount should be indicated by a minus sign. Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

Average real return %

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