Treasury bills are currently paying 6 percent and the inflation rate is 3 percent.

What is the approximate real rate of interest? (Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

Approximate real rate

%

What is the exact real rate? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

Exact real rate

%