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In 1896, the first Green Jacket Golf Championship was held. The winners prize money was...

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Finance

In 1896, the first Green Jacket Golf Championship was held. The winners prize money was $180. In 2018, the winners check was $2,340,000.

a. What was the annual percentage increase in the winners 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 winners 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.)

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