Question: 10 10 points In 1895, the first U.S. Open Golf Championship was held. The winner's prize money wa $150. In 2019, the winner's check was

 10 10 points In 1895, the first U.S. Open Golf Championship

10 10 points In 1895, the first U.S. Open Golf Championship was held. The winner's prize money wa $150. In 2019, the winner's check was $2.25 million What was the percentage increase per year in the winner's check over this period? (D. not round intermediate calculations and enter your answer as a percent rounded to decimal places, e.g. 32.16.) Skipped Interest rate % eBook Hint If the winner's prize increases at the same rate, what will it be in 2044? (Do not round intermediate calculations and enter your answer in dollars, not millions, rounded to decimal places, e.g. 1,234,567.89) Print References Future value

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!