Investments in the stock market have increased

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Reference no: EM131930618

Investments in the stock market have increased at an average compound rate of about 5% since 1904. It is now 2013.

a. If you invested $1,000 in the stock market in 1904, 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 1904 has grown to $1 million, how much did you invest in 1904? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

Present value $

Reference no: EM131930618

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