Given:
Principal P (Initial amount) =$5100
Rate(R)= 2.75
Time(t) = 16 months = 16/12 ( In years)
We can proceed to calculate the interest using the formula below:
[tex]S\mathrm{}I=\frac{P\times R\times T}{100}[/tex][tex]=\frac{5100\times2.75\times\frac{16}{12}}{100}[/tex]
[tex]=\frac{5100\times2.75\times16}{100\times12}[/tex][tex]=\text{ \$187}[/tex]
The amount he has for the investement = 5100 + 187 = $5287
