Question: 18. Substitute the known variables and solve for the unknown variable in: CY N (1+i) PY -1 (1+4%) FVORD = PMT(1+4%)N-1 CY (1+i) PY (1+4%)

18. Substitute the known variables and solve for the unknown variable in: CY N (1+i) PY -1 (1+4%) FVORD = PMT(1+4%)N-1 CY (1+i) PY (1+4%) where PMT = $500, i = 0.05, 4% = 0.02, CY = 2, PY = 4, and N = 20

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