Suppose that the value of an investment in the stock market has increased at an average compound rate of about 5% since 1918. It is now 2020.

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

a. If your great-grandfather invested $1,000 in 1918, how much would that investment be worth today?

Investment?

b. If an investment in 1918 has grown to $1 million, how much was invested in 1918?

Present value?