You just turned 19 years old and want to go to Stages for the first time. Sadly, you have no money because you were forced to buy textbooks at school. Happily, you will receive $1,000 cash in exactly two months when your parents come to visit you in Kingston. If you obtain a short-term loan from FunnyMoneyMart at a stated interest rate of 3% per month, what is the largest amount you can borrow today if you intend to use all of your gift money to repay the debt in two months?

options: $897.96

$1,060.90

$995.05

$942.60

None of the above