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LuckyWell [14K]
3 years ago
12

In 1895, the first putting green championship was held. the winner’s prize money was $190. in 2014, the winner’s check was $1,49

0,000. what was the percentage increase per year in the winner’s check over this period?
Business
1 answer:
Ket [755]3 years ago
4 0

Answer:

The interest rate is 7.83%

Explanation:

The winner price in the year 1895 = $190

The winner price in the year 2014 = $1490000

Time duration between, 2014 – 1895 = 119 years

Now we have to find the interest rate at which the winner price has been increased. Thus, use the below formula to find the interest rate.

Future value = present value (1+ r)^n

Future value = $1490000

Present value = $190

n = 119

Now insert the values in the formula.

1490000 = 190(1 + r)^119

1490000 / 190 = (1+r)^119

r = 0.07826 or 7.83%

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(a). Journal entry shown below:

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Which overall message does this political cartoon convey? advertising on buses will raise money for schools. advertising on buse
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The political cartoon referred to was by Jeff Parker, has been an editorial cartoonist for Florida Today since 1992. The overall message being conveyed by the referenced political cartoon is that advertising on school buses could have a negative affect on children.

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