Answer:
$814.13
Step-by-step explanation:
Recall that the simple interest formula is a=p(1+rt).
a= final amount (Unknown)
p=starting amount ($780)
r= interest rate (5.25= 0.0525%)
t=time in years (10 months =5/6 years)
Plug numbers into formula:
a=780(1+5.25*5/6)
Solve parenthesis first according to PEMDAS:
a=780(1.04375)
Multiply:
814.125
Round to nearest hundredth (cent):
$814.13
