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S05-13 Calculating Interest Rates and Future Values [LO1, 3] In 1895, the first U.S. Open Golf Championship was held. The winner's prize money was $150.

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S05-13 Calculating Interest Rates and Future Values [LO1, 3] In 1895, the first U.S. Open Golf Championship was held. The winner's prize money was $150. In 2019, the winner's check was $2.25 million. 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 2044 ? (Do not round intermediate calculations and enter your answer in dollars, not millions, rounded to 2 decimal places, e.g., 1,234,567.89)

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