Problem $5-3$ Compound Interest $($LO$1)$

Investments in the stock market have increased at an average compound rate of about $5\%$ since $1910.$ It is now $2013.$

a$.$

If you invested $$1,000$ in the stock market in $1910,$ 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 $1910$ has grown to $$1$ million, how much did you invest in $1910?($Do not round intermediate calculations. Round your answer to $2$ decimal places.$)$

Present value $