Anthony Bautista needs $$23,000$ in $7$ years.

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What amount must he invest today if his investment earns $12\%$ compounded annually? What amount must he invest if his investment earns $12\%$ annual interest compounded quarterly? $($Round factor values to $5$ decimal places, e$.$g$.1\mathrm{.}25124$ and final answers to $0$ decimal places, e$.$g$.458,581.)$

Investment at $12\%$ annual interest