Present Value of a Single Amount $($Elump sum$)$

$3.$ What is the present value of $$4,500$ to be received in $4$ years from today if the discount rate is $7\mathrm{.}5\%?$

$4.$ To have $$60,000$ for your child's education in $20$ years, what amount should you deposit now in a savings account that earns $12\%,$ compounded annually?