What compound annual growth rate is represented by these figures? (Show working).
China`s GDP was $1.9 trillion in 2004 and $10.3 trillion in 2014
10 years
10.3 = 1.9 (1+r)^10
10 log(1+r) = log(5.42)
log(1+r) = .0734
1+r = 1.184
so 18.4 percent per year