Payments of

$400,$1000

, and

$700

are due at the ends of years 1,8 , and 11 years, respectively. Assuming an effective rate of interest of

5%

per annum, find the point in time at which a payment of

$2100

would be equivalent. Use the method of equated time. Round your answer to 2 decimal places.\ year

Payments of $400,$1000, and $700 are due at the ends of years 1,8 , and 11 years, respectively. Assuming an effective rate of interest of 5% per annum, find the point in time at which a payment of $2100 would be equivalent. Use the method of equated time. Round your answer to 2 decimal places. year