please answer with as much explanation as possible and avoid all shortcuts including financial calculators if possible

Q9) If Treasury bils are currently paying 7% and the inflation rate is 3.8%, what is the approximate real rate of interest? The exact real rate? Answer: The approximate relationship between nominal interest ratos (R), real interest rates (h), and inflation (h) is R=r+h R= Nominal interest rates, r= Real interest rates, h= Inflation Approximate r= The Fisher equation, which shows the exact relationship between nominal interest rates, real interest rates, and inflation is: (1+R)=(1+n)(1+h)(1+07)=(1+r)(1+038)Exactr= Q10) Suppose the real rate is 3% and the inflation rate is 4%7% What rate would you expect to see on a Treasiry bir? Answer: The Fisher equation, which shows the exact rolationship between nominal interest rates, real interest rates, and inflation is: (1+R)=(1+r)(1+h):R= R= Nominal interest rates, r= Real interest rates, h= Inflation