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Even before you use a new credit card, what information is the institution that issued your card required by law to disclose? The rate of interest and method used to compute finance charges The rate of interest and estimated dollar amount of finance charges The method used to compute finance charges and estimated dollar amount of finance charges The interest rate on cash advances is generally. the rate on purchases. The most common method that banks and retai Iers use to compute finance charges is the average daily balance (ADB) method. You expect to actively use your card. Which variatio sthod will be least expensive for you? ADB excluding new purchases ADB including new purchases It doesn't matter Consider the following case: On August 1, Lorenzo'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, Lorenzo 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: Use the following table to help Lorenzo estimate his monthly interest charge for August. One way by which Lorenzo can reduce his finance charges, everything else remaining constant, is to: Request a lower interest rate on his credit card. Make smaller payments. Make more, even more expensive purchases