Simple interes formula for future value (A):
[tex]A=P(1+r\cdot t)[/tex]P is the principal amount
r is the interest rate in decimals
t is the time in years
For the given situation:
1. Turn the time from months to years:
[tex]30\text{months}\cdot\frac{1\text{year}}{12\text{months}}=2.5\text{years}[/tex]2. Fin the final value:
[tex]\begin{gathered} A=5250(1+0.076\cdot2.5) \\ \\ A=5250(1+0.19) \\ \\ A=5250(1.19) \\ \\ A=6247.5 \end{gathered}[/tex]