Annual percentage increase in the winner check


Problem:

In 1901, the first Putting Green Championship was held. The winner's prize money was $210. In 2009, the winner's check was $1,410,000.

Required:

Question: What was the annual percentage increase in the winner's check over this period? If the winner's prize increases at the same rate, what will it be in 2039?

Note: Please show the work not just the answer.

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Accounting Basics: Annual percentage increase in the winner check
Reference No:- TGS0890516

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