Question

stuart daniels estimates that he will need 25,000 to set up a small business in 7 years. how much must Stuart invest now at 12%interest compounded quarterly to achieve his goal?

Answer 1

12/4 = 3% per period
7* 4 = 28 periods

1.03^28 = 2.288
so
2.288 x = 25,000
x = 10,927