Ch 06: Assignment - Using Credit Consider the following case: On November 1st, Jacob's credit card has a balance of $2,250.50. According to the terms of the card's lending agreement, an interest rate of 18% per year is assessed and the monthly finance charges are calculated using the Average Daily Balance (ADB) including purchases method. During the month, Jacob expects to make the purchases listed below and will make a payment of $168.79 on November 25th, and has collected the following additional information: Date Purchases November 5 $1,835.95 November 15 55.60 November 1963.10 November 27 447.77 Additional Information Monthly interest rate 1.50% Beginning card balance $2,250.50 Days in the month 30 Use the following table to help Jacob estimate his monthly interest charge for November. Dates Number of Days Daily Balance $2,250.50 Calculated Value $ - 11/ 11/ - 11/ - 11/ - 11/ 11/ - 12/ Total Average Daily Balance With Purchases Finance Charge One way by which Jacob can increase his finance charges, everything else remaining constant, is to: O Make larger or more frequent payments