The table below shows the dollar amounts of outstanding bonds and corresponding default amounts for every year over the past five years. Note that the default figures are in millions, while those outstanding are in billions. The outstanding figures reflect default amounts and bond redemptions.

What are the annual and cumulative default rates of the above bonds?

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Years after Issuance 4 Years S 1 5 Years S2 3 Years S93 S2 1 Year 2 Years Loan Type A-rated: Annual default (millions) S95 S91 $88 $100 Outstanding (billions) S3 $89 S4 $85 B-rated: Annual default (millions) $92 $100 $94 Outstanding (billions) C-rated: Annual default (millions) S1 S3 S5 S5 S6 S79 $100 $97 $90 S85 Outstanding (billions)