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In 1895, the first Putting Green Championship was held. The winner's prize money was $150. In 2009, the winner's check was $1,350,000. Requirement 1: What
In 1895, the first Putting Green Championship was held. The winner's prize money was $150. In 2009, the winner's check was $1,350,000. Requirement 1: What was the annual percentage increase in the winner's check over this period? (Do not include the percent sign (%). Enter rounded answer as directed, but do not use the rounded numbers in intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).) Requirement 2: If the winner's prize increases at the same rate, what will it be in 2045? (Do not include the dollar sign ($). Enter rounded answer as directed, but do not use the rounded numbers in intermediate calculations. Enter your answer in dollars, not millions of dollars(e.g., 1,234,567). Round your answer to 2 decimal places (e.g., 32.16).) You have $15,000 you want to invest for the next 40 years. You are offered an investment plan that will pay you 8 percent per year for the next 20 years and 12 percent per year for the last 20 years. Requirement 1: How much will you have at the end of the 40 years? (Do not include the dollar sign ($). Enter rounded answer as directed, but do not use the rounded numbers in intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).) Requirement 2: If the investment plan pays you 12 percent per year for the first 20 years and 8 percent per year for the next 20 years, how much will you have at the end of the 40 years? (Do not include the dollar sign ($). Enter rounded answer as directed, but do not use the rounded numbers in intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)
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