Suppose that the value of an investment in the stock market has increased at an average compound rate of about $5\%$ since $1907.$ It is now $2020.$

Note: For all requirements, do not round intermediate calculations. Round your answer to $2$ decimal places.

$2$

points

a$.$ If your great$-$grandfather invested $$1,000$ in $1907,$ how much would that investment be worth today?

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b$.$ If an investment in $1907$ has grown to $$1$ million, how much was invested in $1907?$

Present value