Problem $4-13$ Calculating Growth Rates and Future Values $[$LO $1,3]$

In $1897,$ the first Green Jacket Golf Champlonship was held. The winner's prize money was $$225.$ In $2020,$ the winner's check was $$2,610,000$

a$.$ What was the annual percentage Increase In the winner's check over this perlod?

Note: Do not round Intermedlate calculations and enter your answer as a percent rounded to $2$ decimal places, e$.$g$.,32\mathrm{.}16.$

b$.$ If the winner's prize Increases,at the same rate, what will it be in $2055?$

Note: Do not round Intermedlate calculatlons and round your answer to $2$ declmal places, e$.$g$.,1,234,567\mathrm{.}89.$

a$.$ Annual percentage increase

b$.2055$ prize money