1. Formula way - please spell out the formula you use, then plug in values in the formula, then give the final calculation result. Example: F=P(1+r)nt=100(1+5%)n3=115.76 Calculating Growth Rates and Future Values In 1895, the first U.S. Open Golf Championship was held. The winner's prize money was $150. In 2020 , the winner's check was $2.2 million. 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 2050