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Which variable has the biggest impact on TVM calculations?Examine an FV of an annuity problem where annual payments are$2,800, the rate of return is 8%, and the number of years is 10.Using these inputs, the FV of the annuity is $40,562.37. For thefollowing questions, use the originally stated variables (PMT =$2,800, N = 10, and I = 8%) except as directed in the question.What is the FV if the annual payment is doubled from $2,800 to$5,600? (Round answer to 2 decimal places, e.g.52.75.)When the annual payment is doubled, the FV increases to$ .What is the FV if the interest rate is doubled from 8% to 16%?(Round answer to 2 decimal places, e.g.52.75.)When interest rate is doubled, FV increases to $ .What is the FV if the time period is doubled from 10 years to 20years? (Round answer to 2 decimal places, e.g.52.75.)When the time period is doubled, FV increases to$ .
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