In 1895, the first U.S. Open Golf Championship was held. The winner's prize money was $150. In 2016, the winner's check was $2.9 million. 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.)
In 1895, the first U.S. Open Golf Championship was held. The winner's prize money was $150. In 2016, the winner's check was $2.9 million. 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.)
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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![In 1895, the first U.S. Open Golf Championship was held. The
winner's prize money was $150. In 2016, the winner's check was
$2.9 million.
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.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F26bb5a01-1db3-4a2a-bf65-a97a8706c63a%2F2e965595-d5b3-4405-bf67-85ca08b45144%2Fyumr6qg_processed.jpeg&w=3840&q=75)
Transcribed Image Text:In 1895, the first U.S. Open Golf Championship was held. The
winner's prize money was $150. In 2016, the winner's check was
$2.9 million.
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.)
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