Use the data in the following table showing cumulative default rates for years relative to the issuance of a bond (numbers in the table are %s so .434% equals .00434 in decimal form)

What is the probability an A rated bond will survive past year 4?

What is the probability of a bond initially rated B defaulting in the third year of life?

t Time in Years Relative to Date of Issue 20 Ratin 10 0.000 0.013 0.013 0.037 0. 10.4 0.241 0.489 0.910 1.073 Aaa Aa 0.022 0.068 0.136 0.260 0.410 0.682 1.017 1.871 3.167 0.062 0.199 0.434 0.679 0.958 1.615 2.759 4.583 7.044 Baa 0.174 0.504 0.906 1.373 1.862 2.872 4.623 8.306 11.989 1.110 3.071 5.371 7.839 10.065 13.911 19.323 28.500 35.410 Ba 3.904 9.274 14.723 19.509 23.869 31.774 40.560 50.275 55.892 Caa C 15.894 27.003 35.800 42.796 48.828 56.878 66.212 73.152 74.946 *Data in percent