Final answer:
The future value of the deposit can be calculated using the formula for compound interest.
Step-by-step explanation:
The future value of the deposit can be calculated using the formula for compound interest:
FV = PV * (1 + r/n)^(n*t)
Where FV is the future value, PV is the present value, r is the annual interest rate, n is the number of times interest is compounded per year, and t is the number of years.
In this case, Suzette invested $250, so PV = $250, the interest rate is 2.75% or 0.0275, and the term is 240 days or 240/365 = 0.6575 years.
The future value of the deposit is:
FV = $250 * (1 + 0.0275/365)^(365*0.6575) = $259.31
Therefore, the correct answer is c) $259.31.