I just want to make sure my answers are correct. If they aren't please provide problems and solutions.

In 1895, the first a sporting event was held. The winner's prize money was $130. In 2007 , the winner's check was $1,174,000. (Do not round your intermediate calculations.) Required: (a)What was the percentage increase per year in the winner's check over this period? (b) If the winner's prize increases at the same rate, what will it be in 2040