Question
Investments in the stock market have increased at an average compound rate of about 5% since 1903. It is now 2012. a. If you invested
| Investments in the stock market have increased at an average compound rate of about 5% since 1903. It is now 2012. |
| a. | If you invested $1,000 in the stock market in 1903, 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 1903 has grown to $1 million, how much did you invest in 1903? (Do not round intermediate calculations. Round your answer to 2 decimal places.) |
| Present value | $ |
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Essentials Of Financial Management Text And Cases
Authors: George C Philippatos
1st Edition
0816267162, 978-0816267163
