Answer:
$1700
Step-by-step explanation:
The compound interest formula gives the total value of the investment after a certain duration considering the rate of interest.
To fins the amount of interest gained, we deduct the initial value of investment from the total compound amount.
Interest=A-P
Where P is principal amount of investment and A is the final value of money.
Substituting $13200 for A and $11500 for P then
I=13200-11500=$1700
Therefore, interest amount is equivalent to $1700
