A client needs to save $12000 dollars in 2 years. If they invest at $LaTeX: \displaystyle 4.8$ % compounded monthly, how much do they need to invest today?

Using the forumla for present value $LaTeX: \displaystyle PV = \frac{12000}{ (1 + (0.048/12))^{24} } = 10903.66$ dollars.