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Problem 5-13 Calculating Interest Rates and Future Values [LO1, 3] In 1895, the first Putting...

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Problem 5-13 Calculating Interest Rates and Future Values [LO1, 3] In 1895, the first Putting Green Championship was held. The winner's prize money was $240. In 2016, the winner's check was $1,440,000. What was the percentage increase per year in the winner's 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 winner's prize increases at the same rate, what will it be in 2031? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., . 32.16.) Increase per year . b Winners prize in 2031

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