Annual percentage increase in the winner check over period

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Reference no: EM131570185

In 1895, the first U.S. Open Golf Championship was held. The winner’s prize money was $150. In 2011, the winner’s check was $1,440,000.

Requirement 1:

What was the annual percentage increase in the winner’s check over this period? (Enter rounded answer as directed, but do not use rounded numbers in intermediate calculations. Enter your answer as a percent rounded to 2 decimal places (e.g., 32.16).)

Annual percentage %

Requirement 2:

If the winner’s prize increases at the same rate, what will it be in 2045?

Reference no: EM131570185

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