b. (10 min) What is the equivalent annual payment (EAP) for a.1. and a.2. cases in question a.? Does your answer correspond to your answers to questions a. 1. and a.2.? Assume the discount rate is 10% and the EAP is paid at the end of each year. 1. (30 min) Time Value of Money. Conceptual. Consider only time value of money, ignore all other aspects. a. (10 min) Answer without doing any calculations. What is better: To pay $2,000 every two year period, or $3,000 every three year period, if the payments are made: a.1. At the end of the period a.2. At the beginning of the period