(Answered) Question calculating growth rates and future values in 1895

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Question: Calculating Growth Rates and Future Values. In 1895, the first U.S. Open Golf Championship was held. The winner's prize money was $150. In 2014, the winner's check was $1,620,000. What was the annual percentage increase in the winner's check over this period? If the winner's prize increases at the same rate, what will it be in 2045?

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