Compute the maturity value for each of the following notes: 1. A note payable with a face

Question:

Compute the maturity value for each of the following notes:
1. A note payable with a face amount of $25,000, dated June 15, 2019, due in three months, bearing interest at 7 percent.
2. A note payable with a face amount of $22,000, dated May 5, 2019, due in 45 days, bearing interest at 8 percent.

Maturity
Maturity is the date on which the life of a transaction or financial instrument ends, after which it must either be renewed, or it will cease to exist. The term is commonly used for deposits, foreign exchange spot, and forward transactions, interest...