Problem $5-13$ Calculating Interest Rates and Future Values $[$LO$1,3]$

In $1895,$ the first Putting Green Championship was held. The winner's prize money was $$230.$ In $2016,$ the winner's check was $$1,430,000.$

a$.$ What was the percentage increase per year in the winner's check over this period? $($Do not round intermediate 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 $2032?($Do not round intermediate calculations and round your answer to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$

a$.$ Increase per year

b$.$ Winners prize in $2032$