Consider the following case: On August 1, Maria's credit card has a balance of $9,002.00. According...

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Consider the following case: On August 1, Maria's credit card has a balance of $9,002.00. According to the terms of the card's lending agreement, an interest rate of 14% per year is assessed and the monthly finance charges are calculated using the Average Daily Balance (ADB) including purchases method. During the month, Maria expects to make the purchases listed below and will make a payment of $675.15 on August 23, and has collected the following additional information: Date August 6 Purchases $245.31 August 13 1,940.83 August 21 130.41 August 26 212.85 Additional Information Monthly interest rate 1.17% Beginning card balance $9,002.00 Days in the month 31 Use the following table to help Maria estimate her monthly interest charge for August. Dates Number of Days Daily Balance 8/2-8/6 5 $9,002.00 8/7 - 8/13 8/14 - 8/21 8/22 - 8/23 7 8 2 8/24 - 8/26 3 8/27 - 8/1 6 $ Total 31 Average Daily Balance With Purchases Finance Charge Calculated Value $ $ $ One way by which Maria can reduce her finance charges, everything else remaining constant, is to: Request a lower interest rate on her credit card. Make more, even more expensive purchases. Make smaller payments. Consider the following case: On August 1, Maria's credit card has a balance of $9,002.00. According to the terms of the card's lending agreement, an interest rate of 14% per year is assessed and the monthly finance charges are calculated using the Average Daily Balance (ADB) including purchases method. During the month, Maria expects to make the purchases listed below and will make a payment of $675.15 on August 23, and has collected the following additional information: Date August 6 Purchases $245.31 August 13 1,940.83 August 21 130.41 August 26 212.85 Additional Information Monthly interest rate 1.17% Beginning card balance $9,002.00 Days in the month 31 Use the following table to help Maria estimate her monthly interest charge for August. Dates Number of Days Daily Balance 8/2-8/6 5 $9,002.00 8/7 - 8/13 8/14 - 8/21 8/22 - 8/23 7 8 2 8/24 - 8/26 3 8/27 - 8/1 6 $ Total 31 Average Daily Balance With Purchases Finance Charge Calculated Value $ $ $ One way by which Maria can reduce her finance charges, everything else remaining constant, is to: Request a lower interest rate on her credit card. Make more, even more expensive purchases. Make smaller payments.