How to solve this?

Question

 Use the following cumulative average default rates % (1970-2016, Moody’s) for bonds that started with a certain credit rating (Table 19.1 in the textbook) to answer the questions.

What is the probability of default between 2 and 3 years from now for a bond initially rated A?

Answer 1

I believe you find the bond rated A and the time period 2 and 3 and take the probabilities .345 and .165 and subtract them to find your answer.