24) Find the maturity value of a note dated April 20 if it bears interest at 9% and matures on June 25. The face value is $2,240.

On February 2, 2000 (a leap year), Karl Kruger borrowed $4,280 at 9%. The loan was repaid on may 16 of the same year. Find the maturity value if:

Exact interest was paid.

Ordinary interest was paid.

Terrific Toys needs to borrow $140,000 to finance an inventory for Christmas sales. The loan will be for 85 days at 11 1/2% How much more will the interest be if they may pay ordinary, rather than exact, interest?

Dan Dash needs $168 for the repair of the car that gets him to school. His father agrees to lend him the money, but to discourage him from borrowing he adds $1.54 a month until the debt is paid. What interest rate is he charging?