In 1904, the first Putting Green Championship was held. The winner’s prize money was $300. In 2009, the winner’s check was $1,560,000.

Requirement 1:

What was the annual percentage increase in the winner’s check over this period? (Do not include the percent sign (%). Enter rounded answer as directed, but do not use the rounded numbers in intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)

Annual percentage         %

Requirement 2:

If the winner’s prize increases at the same rate, what will it be in 2053? (Do not include the dollar sign ($). Enter your answer in dollars, not millions of dollars (e.g., 1,234,567). Enter rounded answer as directed, but do not use the rounded numbers in intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)