6. Payments of 300, 500 and 700 are made at the end of years five, six and eight, respectively. Interest is accumulated at an annual effective rate of 4%. You are to find the point in time at which a single payment of 1,500 is equivalent to the above series of payments. You are given: (i) X is the point in time calculated by the method of equated time. (ii) Y is the exact point in time. Calculate X + Y.