Karl invested his savings in a short-term fund that was offering a simple interest rate of 5% p.a. The maturity value of the investment at the end of 320 days was $28,339.73.

a.Calculate the principal amount invested.

Round to the nearest cent

b.Calculate the interest earned during the period.

Round to the nearest cent

c. Debt payments of $2,500 and $2,000 are due in six months and nine months, respectively. What single payment is required to settle both debts in one month? Assume a simple interest rate of 7.90% p.a. and use one month from now as the focal date.

Round to the nearest cent