Question 1133089
Let the amount he invests be x.
x(1+(0.055/4))^(4*7) = 10,000
x*1.466 = 10,000
x = 6,821.30 this is how much he has to invest to have 10,000 in 7 years
10,000 - 6,821.30 = 3,178.70 this is how much he can afford to spend today (and still have 10K in 7 years)