In April 2016, the nominal interest rate on a one-year Treasury bill was 0.54 percent. From April 2016 to April 2017, the consumer price index rose from 238.9 to 244.2. If you bought the one-year...

In April 2016, the nominal interest rate on a one-year

Treasury bill was 0.54 percent. From April 2016 to April

2017, the consumer price index rose from 238.9 to 244.2.

If you bought the one-year Treasury bill in April 2016, calculate the real interest rate you earned over the following

12-month period. Given the results of your calculation,

why were investors willing to buy Treasury bills in April

2016?