Answer to Question #123806 in Finance for Kate

Question #123806
In 1895, the first a sporting event was held. The winner's prize money was $110. In 2007, the winner's check was $1,168,000.



(a) What was the percentage increase per year in the winner's check over this period?



(b) If the winner's prize increases at the same rate, what will it be in 2040?
1
Expert's answer
2020-07-03T11:10:28-0400

a) r- the percentage increase per year

b)


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