A client needs to save $5000 dollars in 6 years. If they invest at $LaTeX: \displaystyle 5.5$ % compounded monthly, how much do they need to invest today?

Using the forumla for present value $LaTeX: \displaystyle PV = \frac{5000}{ (1 + (0.055/12))^{72} } = 3597.33$ dollars.