Q4.(a) The table below gives data on personal consumption expenditures at constant market prices (C in the C +I+G+ X - M) from 1995 to 2017 (Source: CSO National Accounts). Calculate average growth rates for periods of your choosing to summarise how personal consumption in the Irish economy has changed since 1995. Explain the rationale for the periods you chose and clearly show all calculations. Year Personal consuinption of goods and services (Euro Million) 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 44179 47353 50506 54632 59717 66076 69256 72060 74158 76974 82510 88041 93959 94427 90005 90853 89342 88595 88074 89925 93172 96908 98505 (b) A 3 year 2,000 government bond is bought at the prevailing interest rate of 5.5%. Outline the payments the purchaser receives at the end of each of the three years (c) Calculate the Net Present Value (NPV) of these payments (d) Assume that immediately after the purchase of the bond the interest rate changes. Calculate the Net Present Value (NPV) if the increase rate changes to (i) 4.5% or (ii) 7%