If Treasury bills are currently paying 6.65 percent and the inflation rate is 3 percent, what is the approximate and the exact real rate of interest?
(Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.) Approximate real rate % Exact real rate %
The response must be typed, single spaced, must be in times new roman font (size 12) and must follow the APA format.