Final answer:
The compound interest after 1 year is $ 755.41.
Step-by-step explanation:
To calculate the compound interest, we can use the formula C = P(1 + r/n)^(nt) - P, where C is the total amount after compound interest, P is the principal amount, 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, P = $6528, r = 11% or 0.11, n = 12 (monthly compounding), and t = 1 year.
Substituting the values into the formula, we get:
C = $6528(1 + 0.11/12)^(12*1) - $6528 = $ 755.41
So, the compound interest after 1 year is $ 755.41.