Problem $11-1$ Stock Market History $($LO$1)$

Use the data in the tables below to answer the following questions:

Average rates of return on Treasury bills, government bonds, and common stocks, $1900-2020.$

$\backslash$table$[[,$Average Annual,Average Premium $($Extra$],[$return versus Treasury,,$],[$Portfolio$,$Rate of Return $(\%),$bills$)],[$Treasury bills,$3\mathrm{.}7,],[$Treasury bonds,$5\mathrm{.}4,1\mathrm{.}7],[$Common stocks,$11\mathrm{.}5,7\mathrm{.}8]]$

Standard deviation of returns, $1900-2020.$

$\backslash$table$[[$Portfolio$,$Standard$],[$Treasury bills,Deviation $(\%)],[$Long$-$term government bonds,$2\mathrm{.}8],[$Common stocks,$8\mathrm{.}9]]$

a$.$ What was the average rate of return on large U$.$S$.$ common stocks from $1900$ to $2020?$

b$.$ What was the average risk premium on large stocks?

c$.$ What was the standard deviation of returns on common stocks?

Note: Enter your answer as a percent rounded to $1$ decimal place.

$\backslash$table$[[$a$.$ Average rate of return,,$\%$