In 1895, the first u. s. open golf championship was held. the winner's prize money was $150. in 2010, the winner's check was $1,350,000. what was the percentage increase per year in the winner's check over this period? (

We will examine the annual growth rate of the following question.

Formula for calculating the annual growth rate is Growth Percentage Over One year =[ (F÷S) ¹/y - 1] ₓ 100

where F= final value

           S= start value

           y= Number of years.

(1,350000÷150)        y= 2010-1895=115

∴ [(1,350,000÷150) ¹/₁₁₅ - 1] × 100

  = (9000¹/₁₁₅ - 1) ₓ 100

  = (1.082393 - 1) ₓ 100

  = 8.24%

Over the course of 115 years the winners prize money grew from $150.00 to $1,350,000.00, its annual growth rate = 8.24%

Please Note, raising a value a to the ¹/b exponent is equivalent to taking the bth root of a. You will likely need a calculator with an " "  button, or a good online calculator.

Couldn't find the basic symbols, had to improvise.

all of them make sense but, i would have to say ask someone who has been there/or lives there, and/or read recent newspapers from that city.

hope this !

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