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In 1895, the first a sporting event was held. The winner's prize money was $130. 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 $130. 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? |
(b) | If the winner's prize increases at the same rate, what will it be in 2040? |
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