PLEASE INCLUDE WORK; I am lost on the steps to solve this problem

Considers a Mexican investor looking to deposit 1,000 pesos in either Mexico or the United States. The 1-year interest rate on US dollar-denominated deposits is 1%. The 1- year interest rate on peso-denominated deposits is 3%. The current spot exchange rate Epeso/$ is 10, the one-year forward rate Fpeso/$ is 9.5. The covered return or net rate of return (in percentage) on the US deposits in terms of pesos when using a forward contract is Select one: a. -2% X b. -4% c. 2% d. 4%