In 1895. the first Putting Green Championship was held The winner\'s prize money
ID: 2735709 • Letter: I
Question
In 1895. the first Putting Green Championship was held The winner's prize money was $150 In 2014 the winner s check was $1 410.000 What was the percentage increase per year in the winner s check over this period' (Do not round intermediate calculations. Enter your answer is j percent rounded to 2 decimal places, e g.. 32.16.) increase per year 7 99 % If tie winner s prize increases at the same late what will it be in 2048? (do not round calculations. Round your answer to 2 decimal places. e.g.. 32.16.)Explanation / Answer
Winner Prize in 2014 = $1,410,000
Annual Increment = 7.99%
Winner Prize in 2048 = 1,410,000*1.0799^34 = $19,242,412.15Winner Prize in 2014 = $1,410,000
Annual Increment = 7.99%
Winner Prize in 2048 = 1,410,000*1.0799^34 = $19,242,412.15