Question: A Treasury Bill was held for 1 year, during which time, it provided a return of 3.85%. In that same year, the general price level

A Treasury Bill was held for 1 year, during which time, it provided a return of 3.85%. In that same year, the general price level rose by 2.40%. Find the real rate of return on this T Bill, using the exact (not approximate) calculation.

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