payments of 300, 500 and 700 are made at the end of years 5, 6, and 8 respectively. interest is accumulated at an effective interest rate of 4%. you are to find the point in time at which a single payment of 1,500 to the above series of payments. you are given: (a) x is the point in time calculated by the method of equated time. (b) y is the exact point in time. calculate x y. a) 13.44 b) 13.50 c) 13.55 d)14.61 e) 14.99