Suppose that the value of an investment in the stock market has increased at an average compound rate of about 5% since 1900. It is now 2016.
a) If someone invested $1000 in 1900, how much would that investment be worth today? (Do not round intermediate calculations. Round your answer to two decimal places.)
b) If an investment from 1900 has grown to $1 million, how much was invested in 1900? (Do not round intermediate calculations. Round your answer to two decimal places.)