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Solve for the unknown number of years in each of the following: (Do not round intermediate calculations and round your answers to 2 decimal places,

image text in transcribedimage text in transcribed Solve for the unknown number of years in each of the following: (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) Present Value Years Interest Rate Future Value $ 850 11 % $ 1,705 2,541 9 4,300 34,005 14 393,120 33,700 21 216,356 In 1899, the first Green Jacket Golf Championship was held. The winner's prize money was $240. In 2018, the winner's check was $2,700,000. a. What was the annual percentage increase 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.) b. If the winner's prize increases at the same rate, what will it be in 2054? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 1,234,567.89.) a. Annual percentage increase b. 2054 prize money 0.04%

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