Question 710722
You need to know the equation for future value of money for this problem. Once you know it, this problem is a piece of cake:

{{{FV = PV*(1+r)^n}}}

Where:
FV = Future Value
PV = Present Value
r = Annual Interest Rate
n = number of periods.

You have all this information, so just plug it in. (Note 7.5%=0.075)
{{{FV=250*(1+.075)^15}}}
{{{FV=250*(1.075)^15}}}
{{{FV=250*2.96}}}
{{{highlight(FV=739.72)}}}
Wow, $250 grew to almost $740! That's the "miracle" of compound interest. So start saving now!

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Good Luck,
tutor_paul@yahoo.com