In 1895, the first U.S. Open Golf Championship was held. The winner's prize money was $150. In 2020, the winner's check was $2.2 million. a. What was the annual percentage increase in the winner's check over this period? Note: 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 2050? Note: Do not round intermediate calculations and and enter your answer in dollars, not millons of dollars, rounded to 2 decimal places, e.g., 1,234,567.89.

In 1895, the first U.S. Open Golf Championship was held. The winner's prize money was $150. In 2020, the winner's check was $2.2 million. a. What was the annual percentage increase in the winner's check over this period? Note: 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 2050? Note: Do not round intermediate calculations and and enter your answer in dollars, not millons of dollars, rounded to 2 decimal places, e.g., 1,234,567.89.

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter11: Capital Budgeting Decisions

Section: Chapter Questions

Problem 8EA: You put $250 in the bank for S years at 12%. A. If interest is added at the end of the year, how...

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