Chapter 5 Intro to Time Value of Money Saved Help Save & Exit Submit Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. Return to question 8 In 1895, the first Putting Green Championship was held. The winner's prize money was $230. In 2016, the winner's check was $1,450,000. 5 points 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 2030? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Answer is complete but not entirely correct. a. Increase per year 7.63 % b. Winners prize in 2030 $ 4,701,581.49 X