Question
In 1895, the first a sporting event was held. The winner's prize money was $150. In 2007, the winner's check was $1,165,000. (Do not round
| In 1895, the first a sporting event was held. The winner's prize money was $150. In 2007, the winner's check was $1,165,000. (Do not round your intermediate calculations.) |
| Required: | |
| (a) | What was the percentage increase per year in the winner's check over this period? |
| (Click to select)-23.778.438.238.388.33 | |
| (b) | If the winner's prize increases at the same rate, what will it be in 2040? |
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Financial management theory and practice
Authors: Eugene F. Brigham and Michael C. Ehrhardt
12th Edition
978-0030243998, 30243998, 324422695, 978-0324422696
