PROBLEM 1 [5 points] Payment option 1: A $600 payment is due to be received in 8 years. Payment option 2: The alternative is to receive $100 now, $200 in 5 years and $Z in 10 years. If r=8% with annual compounding, find Z such that the values of both payment options are equal using the following 3 approaches: a. Compare the values at time t=0 (now). [2pts] b. Compare the values at time t=5 years. [1.5pts] c. Compare the values at time t=10 years. [1.5pts]