Move xref for time formats to the intro page in docs and update examples

docs/builtins/Time/parse-time.md

@@ -1,5 +1,21 @@
 ## parse-time
-Use `parse-time` to construct time from a UTC value using a specified format. See ["Time Formats" docs](https://docs.kadena.io/reference/functions/time#time-formatsh-299815639) for supported formats.
+
+Use `parse-time` to construct a formatted time string from a UTC value using a specified format. 
+The following table provides a summary of common time formatting codes:
+
+| Format | Purpose |
+| --- | --- |
+| %Y | Year, no padding. |
+| %m | Month of the year, zero-padded to two characters, "01"–"12" |
+| %d | Day of the month, zero-padded to two characters, "01"–"31" |
+| %H | Hour of the day using a 24-hour clock, zero-padded to two characters, "00"–"23" |
+| %M | Minute of of the hour, zero0-padded to two characters, "00"–"59" |
+| %S | Second of the minute, zero-padded to two characters, "00"–"60" |
+| %N | ISO 8601 style numeric time zone (for example, "-06:00" or "+01:00")|
+
+There are many other formatting options.
+For example, you can replace the numeric representing the month of the year with the short or long name for the month.
+For information about all of the formats supported, see [Time formats](/pact-5/Time/time-functions#time-formats).
 
 ### Basic syntax
 
@@ -25,8 +41,8 @@ The `parse-time` function returns a time value constructed from the provided UTC
 The following example demonstrates the use of `parse-time` in the Pact REPL:
 
 ```pact
-pact>(parse-time "%F" "2016-09-12")
-2016-09-12 00:00:00 UTC
+pact> (parse-time "%F" "2024-11-06")
+"2024-11-06T00:00:00Z"
 ```
 
-In this example, `parse-time` is used to construct a time value from the UTC value "2016-09-12" using the format "%F".
+In this example, `parse-time` is used to construct a time value using the the ISO 8601 standard specified by the "%F" format from the UTC value "2024-11-06".