You would like to have the current equivalent in terns of today's buying power of $3,000 in years 7 8 and 9. How much would you have to invest today (in nominal terms) to fund this level of real consumption? You expect inflation to be 4% per year over that time period. Your investments earn 7% per year in nominal terms.

$7,314

$7,027

$5,246

$7,171