Treasury bills are currently paying $5$ percent and the inflation rate is $2\mathrm{.}7$ percent.

a$.$ What is the approximate real rate of interest? $($Enter your answer as a percent rounded to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$

b$.$ What is the exact real rate? $($Do not round intermediate calculations and enter your answer as a percent rounded to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$

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