Question: Problem 5-13 Calculating Interest Rates and Future Values (LO1, 3] In 1895, the first Putting Green Championship was held. The winner's prize money was $230.

Problem 5-13 Calculating Interest Rates and Future Values (LO1, 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., 32.16.) 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. 32.16.)

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