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3. (6 points) You need to borrow 1000 dollars to buy your new laptop. Banks 1 is offering a loan in which it asks to pay back 550 euro in one year and 550 euro in two years. Bank 2 a loan in which it asks to pay back 500 euro in one year after and 500 euro in two years and 150 euro in three years. (a) (2 pt) Write the total present values of the two loans as a function of the prevailing interest rate r. (b) (4 pts) Determine the set of interest rates p 2 0 that make the loan offered by bank 1 preferable to the loan offered by bank 2, if any exists ner