Using the data available at www.bea.gov and applying the Compound Annual Percent Change formula, compute the annual growth rates of the following GDP components. Type in the formula you use and show your calculations. For each formula report the values for and n.
1) Calculate the compound annual percent change in REAL GDP (chained dollars) from 2015 to 2017, using ANNUAL DATA.
2) Calculate the compound annual percent change in REAL Personal Consumption Expenditures (chained dollars) from the fourth quarter of 2015 to the third quarter of 2017.
3) Calculate the compound annual percent change in REAL Gross Domestic Investment (chained dollars) from the first quarter of 2015 to the second quarter of 2017.