The discussion about precision is interesting. Though by no means an expert in math, I have some familiarity with precision and rounding numbers. The OP presented the time as "2 1/2 minutes". This would presumably equate to 2.5 minutes. Therefore the actual time value could be 2.25 to 2.74 minutes, if I have it right. Thus, working out the distance to 0.01 miles would be not entirely appropriate, if the time is being expressed to only 0.1.
But, that's semantics, for entertainment. Consider why you need the answer, and that may point the required precision. In this case, to pass a groundschool exam, you may as well get the number right on - just know that in many cases in the real world, that's not needed...