Question: Current Attempt in Progress Abe has learned that his great - aunt intends to give him $ 4 , 5 0 0 each year he

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.125.12. Do not round your intermediate
calculations.)
Amount that must be invested today
$
Current Attempt in Progress Abe has learned that his great-aunt intends

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