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Finding approximate real rate and exact real rate

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Treasury bills are currently paying 6 percent and the inflation rate is 3.00 percent.

What is the approximate real rate of interest? (Round your answer to 2 decimal places. (e.g., 32.16))

Approximate real rate %

What is the exact real rate? (Round your answer to 2 decimal places. (e.g., 32.16))

Exact real rate %

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The solution gives detailed steps on calculating approximate real rate and exact real rate. All formula and calculations are shown and explained.

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