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Karl invested his savings in a short-term fund that was offering a simple interest rate of 4% p.a. The maturity value of the investment at

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Karl invested his savings in a short-term fund that was offering a simple interest rate of 4% p.a. The maturity value of the investment at the end of 290 days was $31,515.25. a. Calculate the principal amount invested. Round to the nearest cent b. Calculate the interest earned during the period. Round to the nearest cent

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