Glencore will need to have $3,000 on October 6, 2024 (four years from now) to purchase new equipment.To accumulate this money, it will make four equal investments, with the first of the equal investments beginning one year from now.

1. If Glencore can earn an annual interest rate of 10%, how much must it invest per year?

b. After presenting your findings from the above calculation, Glencore's CFO asks you to consider an alternative scenario. Both changes are to occur today and will continue throughout the four years. You are to consider both changes simultaneously.

1. The interest rate will increase today and remain at that higher level.

2. There will still be four equal investments, but the first investment will occur immediately.

Without doing any calculations, how would these changes (considered simultaneously) affect your answer in part a?