1. You want to borrow 10000 . Bank A offers you a loan contract according to which you have to pay back the loan in 10 annual installments of 1200 per year (the first installment is due one year after signing the contract). Bank B also offers you a contract with 10 annual installments, but you have to pay 1100 annually during the first 5 years and 1300 annually during years 6 - 10. Finally, bank C requires you to pay annually 1300 during years 1-5 and 1100 during years 6-10. Which of the three contracts is best for you if you want to miminize the present value of the installments based on a constant annual interest rate of 5%?