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What was the percentage increase per year in the winner

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In 1895, the first Putting Green Championship was held. The winner's prize money was $230. In 2016, the winner's check was $1,430,000.

a. What was the percentage increase per year in the winner's check over this period? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

b. If the winner's prize increases at the same rate, what will it be in 2032? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Reference no: EM132124495

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