In a Time Value of Money (TVM) problem with all other variables held constant and where Future

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In a Time Value of Money (TVM) problem with all other variables held constant and where Future Value (FV) or Payment (PMT), as appropriate, are input as negative numbers, increasing N will:

a. Increase the Present Values (PVs) of both a lump sum and annuity.

b. Decrease the PVs of both a lump sum and an annuity.

c. Increase the PV of a lump sum, but decrease the PV of an annuity.

d. Decrease the PV of a lump sum, but increase the PV of an annuity.

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