Since Mr. Thompson doesn't make any operations (deposits or withdrawals), his amount of money will only be modified by the interest rate.
Now, the rate is 2.75, meaning he adds 2.75% of his annual savings each year.
For the first year, he starts with $7,500. Meaning he'll gain $7,500 x 2.75/100 this year. At the beginning of the second year, he'll have $7,911.75 on his account. Again, for the second year, he'll gain $7,911.75 x 2.75/100... And so and so until he reaches the tenth year.
