Using the present value table, calculate how much should be invested today to have $11,200 in 6 years at 8% interest compounded quarterly. 
Definitions:
Real Interest Rate
The interest rate adjusted for inflation, reflecting the real cost of borrowing or the real yield on savings.
Perfect Substitute
Two or more goods that can be used interchangeably with no loss of utility by the consumer.
Consumption
The process or activity of using goods and services, reflecting the end-use of products that directly satisfies human needs or desires.
Interest Rate
The ratio of a loan that is applied as interest towards the borrower, commonly presented as an annual percentage of the remaining loan.
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