Suppose that the value of an investment in the stock market has increased at an average compound rate of about 5% since 1905. It is now 2016.
a. If someone invested $1,000 in 1905, how much would that investment be worth today? (Do not round intermediate calculations. Round your answer to 2 decimal places.)
b. If an investment from 1905 has grown to $1 million, how much was invested in 1905? (Do not round intermediate calculations. Round your answer to 2 decimal places.)
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