Investments in the stock market have increased at an average compound rate of about 5% since 1918. It is now 2013.
a. If you invested $1,000 in the stock market in 1918, how much would that investment be worth today? (Do not round intermediate calculations. Round your answer to 2 decimal places.)
Investment $
b. If your investment in 1918 has grown to $1 million, how much did you invest in 1918? (Do not round intermediate calculations. Round your answer to 2 decimal places.)
Present value $