In 1895, the first U.S. Open Golf Championship was held. The winner's prize money was $170. In 2019, the winner's check was $1,390,000. 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 2049? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) a. Increase per year b. Winners prize in 2049 %
In 1895, the first U.S. Open Golf Championship was held. The winner's prize money was $170. In 2019, the winner's check was $1,390,000. 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 2049? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) a. Increase per year b. Winners prize in 2049 %
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
Problem 1PS
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Transcribed Image Text:In 1895, the first U.S. Open Golf Championship was held. The winner's prize money was
$170. In 2019, the winner's check was $1,390,000.
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 2049? (Do not
round intermediate calculations and round your answer to 2 decimal places, e.g.,
32.16.)
a. Increase per year
b. Winners prize in 2049
%
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