the winner of the first annual Tom Morris Golf Invitational won $130 in the competition which was held in 1904. In 2015, the winner received $1,510,000. If the winner's purse continues to increase at the same interest rate, how much will the winner receive in 2055?

$44,068,955.96  

Explanation:

The annual growth rate can be determined using compound annual growth rate formula below

CAGR=(Succeeding year amount/preceding year amount)^1/n-1

n is the interval of years between the two amount which is 2015-1904=111

CAGR=(1510000/130)^(1/111)-1=8.80%

The amount the winner would receive in the year 2055 can be computed using the future value formula stated below:

FV=PV*(1+r)^n

PV is the present amount which is $1,510,000

r is the 8.80%

n=2055-2015=40 years

FV=$1,510,000*(1+8.80%)^40=$44,068,955.96  

answer: a. the kind of population living in your neighbourhood.

the census explorer data tool by the us census bureau allows the user to zoom in on any neighbourhood within the united states and find the kind of people residing in that by race and age.  

the tool needs to needs to be used twice – once in order to find what type of people reside in a neighbourhood, and then to see the age groups of the people in the same neighbourhood.