FV=PV(1+r)^n

1460000(1+7.54%)^25=8986770.67 is Wrong

In 1895, the first Putting Green Championship was held. The winner's prize money was $220. In 2016, the winner's check was $1,460,000. 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.) If the winner's prize increases at the same rate, what will it be in 2041? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. 7.54 % a. Increase per year b. Winners prize in 2041