01 Saved Help Save & Exit Submit P5-13 Calculating Interest Rates and Future Values (L01, 3] In 1895, the first a sporting event was held. The winner's prize money was $130. In 2007, the winner's check was $1,170,000. (Do not round your intermediate calculations.) Required: (a)What was the percentage increase per year in the winner's check over this period? 02:33:04 8.47 (b)If the winner's prize increases at the same rate, what will it be in 2040? 17,373,207.82