The interest of a compound interest investment or loan can be computed with the formula

I
=
A
−
P
(where A is given below) .

The end amount of a compound interest investment or loan can be computed with the formula

A
=
P
(
1
+
r
n
)
n
t
.

Use these formulas to evaluate the amounts indicated below.
Let
P
=
$
2
,
400
,
r
=
14.8
% ,
n
=
2
, and
t
=
3
years. Determine the interest,
I
, at the end of
3
years.

Interest = $


dollars