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What was the annual percentage increase in the winner

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In 1902, the first U.S. Open Golf Championship was held. The winner's prize money was $220. In 2012, the winner's check was $1,420,000. What was the annual percentage increase in the winner's check over this period? If the winner's prize increases at the same rate, what will it be in 2038?

Reference no: EM13311449

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