Question: I need help to second part of question in figuring out the prize money. Please help. Thanks value 2.50 points Problem 4-13 Calculating Interest Rates
value 2.50 points Problem 4-13 Calculating Interest Rates and Future Values [LO 1,3 In 1900, the first u.s. Open Golf winner's check was $1,400,000 The winner's f Championship was held. The winner's prize money was $200. In 2012, the Requirement 1 What was the annual percentage increase in the winner's check over this period? (Enter rounded answer as directed, but do not use rounded numbers in intermediate calculations. Enter your answer as a percent rounded to 2 decimal places (e.g, 32.16)) Annual percentage 823 Requirement 2 If the winner's prize increases at the same rate, what will t be in 2040? (Enter your answer in dollars, not millions of dollars (e.g., 1,234,567). Enter rounded answer as directed, but do not use rounded numbers in intermediate calculations. Round your answer to 2 decimal places (e.g, 32.16).) Prize money $2855996
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