On November 1st, Ava’s credit card has a balance of $4,501.00. According to the terms of...

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Finance

On November 1st, Ava’s credit card has a balance of $4,501.00.According to the terms of the card’s lending agreement, an interestrate of 18% per year is assessed and the monthly finance chargesare calculated using the Average Daily Balance (ADB) includingpurchases method.
During the month, Ava expects to make the purchases listed belowand will make a payment of $337.58 on November 25thth, and hascollected the following additional information:
Date
Purchases
November 5 $1,835.95
November 15 55.60
November 19 63.10
November 27 447.77
Additional Information
Monthly interest rate 1.50%
Beginning card balance $4,501.00
Days in the month 30
Use the following table to help Ava estimate her monthlyinterest charge for November.
Dates
Number of Days
Daily Balance
Calculated Value
11/ - 11/
11/ - 11/
11/ - 11/
11/ - 11/
11/ - 11/
11/ - 12/
Total
Average Daily Balance With Purchases
Finance Charge
One way by which Ava can reduce her finance charges, everythingelse remaining constant, is to:
Make more, even more expensive purchases
Make smaller payments
Request a lower interest rate on her credit card

Date	Purchases
November 5	$1,835.95
November 15	55.60
November 19	63.10
November 27	447.77

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On November 1st, Ava’s credit card has a balance of $4,501.00.According to the terms of the card’s lending agreement, an interestrate of 18% per year is assessed and the monthly finance chargesare calculated using the Average Daily Balance (ADB) includingpurchases method.During the month, Ava expects to make the purchases listed belowand will make a payment of $337.58 on November 25thth, and hascollected the following additional information:DatePurchasesNovember 5$1,835.95November 1555.60November 1963.10November 27447.77Additional InformationMonthly interest rate1.50%Beginning card balance$4,501.00Days in the month30Use the following table to help Ava estimate her monthlyinterest charge for November.DatesNumber of DaysDaily BalanceCalculated Value11/ - 11/11/ - 11/11/ - 11/11/ - 11/11/ - 11/11/ - 12/TotalAverage Daily Balance With PurchasesFinance ChargeOne way by which Ava can reduce her finance charges, everythingelse remaining constant, is to:Make more, even more expensive purchasesMake smaller paymentsRequest a lower interest rate on her credit card

Monthly interest rate	1.50%
Beginning card balance	$4,501.00
Days in the month	30

Dates	Number of Days	Daily Balance	Calculated Value
11/ - 11/
11/ - 11/
11/ - 11/
11/ - 11/
11/ - 11/
11/ - 12/
Total
Average Daily Balance With Purchases
Finance Charge