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Suppose that the value of an investment in the stock market has increased at an average compound rate of about 5% since 1903. It is
Suppose that the value of an investment in the stock market has increased at an average compound rate of about 5% since 1903. It is now 2016 a. If someone invested $1,000 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 an investment from 1903 has grown to $1 million, how much was invested in 1903? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Present value
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