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Suppose that the value of an investment in the stock market has increased at an average compound rate of about

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.)

Mar 02 2020 Read more Less More

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