yah, 3% is a high assumption for the risk-free rate. but if it were 0%, you'd be losing money to inflation over time (treasuries are only proxies for the theore

yah, 3% is a high assumption for the risk-free rate. but if it were 0%, you'd be losing money to inflation over time (treasuries are only proxies for the theoretical construct that is the risk-free rate). no single security provides the risk-free rate but perhaps a (small) portfolio of securities could get you the risk-free return.