The inflation rate in the United States has averaged 3% a year since 1900. Use the data in the table below to answer the following question: Average rates of return on Treasury bills, government bonds, and common stocks, 19002015.

Portfolio		Average Annual Rate of Return (%)		Average Premium (Extra return versus Treasury bills) (%)
Treasury bills		3.8
Treasury bonds		5.3		1.5
Common stocks		11.4		7.6
What was the average real rate of return on Treasury bills, Treasury bonds, and common stocks in that period? (Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places.)