A client needs to save $8500 dollars in 4 years. If they invest at $LaTeX: \displaystyle 5.3$ % compounded monthly, how much do they need to invest today?

Using the forumla for present value $LaTeX: \displaystyle PV = \frac{8500}{ (1 + (0.053/12))^{48} } = 6879.41$ dollars.