Assume That Last Year, Catrin Earned 9

Assume that last year, Catrin earned 9.8 percent on his investments while U.S.Treasury bills yielded 2.3 percent, and the inflation rate was 1.4 percent.What real rate of return did he earn on his investments last year?

A) 8.76 percent
B) 8.28 percent
C) 10.69 percent
D) 9.37 percent
E) 7.52 percent