Answer
$505.25^{2}; 551.25^{2}$
Work Step by Step
Since the original values are whole numbers to find the minimum area we will go down a half inch on each number and for the maximum area we will go up a half inch on each number.
Minimum: $23.5in×21.5in=505.25in^{2}$
Maximum: $24.5in×22.5in=551.25in^{2}$