Current Attempt in Progress

Abe has learned that his great$-$aunt intends to give him $$4,500$ each year he is studying at university. Tuition must be paid in advance,

so Abe would like to receive his payments at the beginning of each school year. How much will his great$-$aunt have to invest today at $7$

percent to make the four annual $($start$-$of$-$year$)$ payments?

Assume that Abe will be starting school in five years. $($Round answer to $2$ decimal places, e$.$g$.125\mathrm{.}12.$ Do not round your intermediate

calculations.$)$

Amount that must be invested today

$