In 1904, the first Green Jacket Golf Championship was held. The winner's prize money was $300. In 2015, the winner's check was $1,660,000. What was the annual percentage increase 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.) Annual percentage % If the winner's prize increases at the same rate, what will it be in 2053? (Enter your answer in dollars, not millions of dollars, e.g., 1,234,567. Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Prize money $ %24
In 1904, the first Green Jacket Golf Championship was held. The winner's prize money was $300. In 2015, the winner's check was $1,660,000. What was the annual percentage increase 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.) Annual percentage % If the winner's prize increases at the same rate, what will it be in 2053? (Enter your answer in dollars, not millions of dollars, e.g., 1,234,567. Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Prize money $ %24
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 1904, the first Green Jacket Golf Championship was held. The winner's prize money
was $300. In 2015, the winner's check was $1,660,000.
What was the annual percentage increase 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.)
Annual percentage
%
If the winner's prize increases at the same rate, what will it be in 2053? (Enter your
answer in dollars, not millions of dollars, e.g., 1,234,567. Do not round
intermediate calculations and round your answer to 2 decimal places, e.g.,
32.16.)
Prize money
$
%24
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