Assume that the value of a stock market investment has risen at a compound annual rate of roughly 5% since 1920.

a. What would be the current value of a $1,000 investment made by a fund manager in the year 1920? Assume we're in the year 2021. (Intermediate computations should not be rounded. Your answer should be rounded to two decimal places.)

b. Assume an investment in 1920 has risen to $1 million today, what was the amount of money invested in 1920? Assume we're in the year 2021.

(Enter your answer in dollars. Do not round intermediate calculations. Round your answer to 2 decimal places.)