Question
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
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 your great grandfather invested $1,000 in 1900, how much would that investment be worth today?
b) If an investment in 1900 has grown to $1 million, how much was invested in 1900?
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Public Finance A Contemporary Application Of Theory To Policy
Authors: David N Hyman
12th Edition
0357442156, 978-0357442159
