Hello Treina C.,
I have to assume you meant, "How many grams of Fe2O3 are required to react to yield 8.62 grams of Fe? ".
So what do you need, to convert masses (grams) back and forth to moles (mol), for any chemical material? The molar mass, right? So what is that for Fe, and for Fe2O3 ? For Fe, just look up the atomic mass (that's the larger number on the Periodic Table, it includes everything in the nucleus. The mass of the electrons is negligible: mass of 1 electron =~ 1/1836 mass of 1 proton. So we use the atomic mass value as is for all calculations of mass of an atom.). OK, you did that. So divide the Fe mass stated, 8.62 g, by that value, ~55.845 g/mol, to get how many mol of Fe are required in the equation. Next, look at the coefficients in the (balanced!) equation. note that ONE Fe2O3 will produce TWO Fe as products.
Now, think about what the balanced equation stands for. Yes, it's a text string, that doesn't help you! Also, it could stand for taking those NUMBERS of atoms or molecules and producing those NUMBERS of atoms or molecules. But it can also stand for taking those MOLES of atoms or molecules and producing those MOLES of atoms or molecules. The only thing it does NOT do, is take those MASSES of atoms or molecules and produce those MASSES of atoms or molecules, because the proportioning of the mass of each item in the equation to the moles of that item is an individual thing.
So now, you have in hand the number of moles of Fe you end up with. But from the leading coefficients in the equation, you see that you only start with 1/2 that amount of Fe2O3 moles. So divide your moles of Fe by 2, and you have the number of moles of Fe2O3 you had to start with. But your final asnwer must be as grams! So, add up the atomic mass of all the atoms in Fe2O3 : that's 2*Fe + 3*O . You should get a value somewhere near 158 (g/mol, all numbers in chemistry have units!). So multiply that value (g/mol Fe2O3 ) by the mol Fe2O3 value you calculated just above, and there (almost!) is you answer in grams Fe2O3 . Why do I say, "almost"? You started with 3 significant digits for your input data; you used at least that many significant digits for your molar masses (but, to be on the safe side, use 2 more digits if your Periodic Table shows them); so you must round to 3 signifcant digits in your answer. To show more or fewer digits would be scienfically wrong: showing more implies that you know those extra digits are correct -- but you can't know that, from your input data precision!; to show less implies that you think you could do the reaction and get the stated precision result, without weighing your Fe2O3 carefully -- but you couldn't!
Hope that sets things clearer for you, -- Cheers, --Mr. d.