Q1. In 1,890, the first Open Golf Championship was held. The winners prize money was...
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Q1. In 1,890, the first Open Golf Championship was held. The winners prize money was $327. In 2,012, the winners check was $1,416,051. What was the percentage increase per year in the winners check over this period? (Round your final answer to two decimal places and report in percentage form: x.xx%)
Q2.In 2,011, an Action Comics No. 1, featuring the first appearance of Superman, was sold at auction for $981,660. The comic book was originally sold in 1,944 for $0.07. For this to have been true, what was the annual increase in the value of the comic book? (Round your final answer to two decimal places and report in percentage form: x.xx%)
Q3.Suppose you are committed to owning a $187,179 Ferrari. If you believe your mutual fund can achieve a 13.7 percent annual rate of return and you want to buy the car in 7 years on the day you turn 30, how much must you invest today? (Round your final answer to two decimal places.)
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