1) Find the date due and the maturity value.

a) Date of loan: June 3; face value: $6535; term of loan: 85 days; rate: 10%

b) Date of loan: April 8; face value: $2181; term of loan: 128 days; 9.5%

2) House of Realty earned $347.00 interest on a $13,000 deposit in an account paying 16%. Find the number of days that the funds were on deposit.

3) Find the time (in days).

a) Principal: $29,000

Rate: 6.5%

Interest: $942.50

b) Principal: $7000

Rate: 11%

Interest: $385

4) Find the approximate annual percentage rate using the approximate annual percentage rate formula.

Amount financed: $1400

Finance charge: $220

Number of monthly payments: 36

5) Find the amount by which the ordinary interest is larger than the exact interest. Round to the nearest cent.

a) $13,600 at 11% for 280 days

b) $42,100 at 7% for 180 days

6) On June 1, the unpaid balance in an account was $122. On June 15, a payment of $65 was made. The finance charge rate was 1.5% per month of the average daily balance. Find the new balance at the end of June.