Problem $6-9$ Calculating Real Rates of Return $[$LO $4]$

If Treasury bills are currently paying $5\mathrm{.}75$ percent and the inflation rate is $2\mathrm{.}8$ percent, what is the approximate and the exact real rate of interest?

Note: Do not round intermediate calculations and enter your answers as a percent rounded to $2$ decimal places, e$.$g$.,32\mathrm{.}16.$