I have a 2D parametric plot like the following:

    ParametricPlot[
      {Sin[t], Cos[t]}, {t, 0, 2 \[Pi]},
      Frame -> True, AxesLabel -> {x, y}, AxesStyle -> Arrowheads[0.04], PlotRangePadding -> 0.2
    ]

![wrong labels][1]

But I would like the axes labels `x, y` to be positioned besides the arrowheads (i.e. `y` left of the vertical arrowhead and `x` just below the horizontal one).

Since I can't use the frame as a replacement for the axes (as the axes are in the middle, not at the edge), I believe I cannot use the approach suggested in [this question][2].

How could I achieve this?


  [1]: https://i.sstatic.net/AYko2.jpg
  [2]: http://mathematica.stackexchange.com/q/17747/7508