Andy Capp's will need to have $3,000 on July 2, 2025 (5 years from now) to purchase new equipment.To accumulate this money, it will make 5 equal investments, with the first of the equal investments beginning one year from now.

1) If Andy Capp's can earn an annual interest rate of 10%, how much must it invest per year?

2) How would these changes (considered simultaneously) affect your answer in part 1?

1. The interest rate will increase

2.First investment will occur immediately.