This question has two parts.

Part 1

A company will need to have $3,000 four years from now to purchase new equipment. It plans to get this money through four equal investments, with the first investment beginning one year from now.

If the company can earn an annual interest of 10%, how much should the company invest per year?

Part 2

In an different scenario, the two changes listed below are to occur today and will continue throughout the next four years. Consider both of these changes simultaneously.

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

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

How will these changes if they occur at the same time affect the answer to the previous part?