On March 1, Lorenzo's credit card has a balance of $7,876.75. According to the terms of the card's lending agreement, an interest rate of 12% 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 $590.76 on March 23, and has collected the following additional information: Date Purchases March 6 $391.25 March 12 43.8 March 20 46.9 March 27 1,160.16 Additional Information Monthly interest rate 1.00% Beginning card balance $7,876.75 Days in the month 31 Use the following table to help Lorenzo estimate his monthly interest charge for March. Dates 3/2-3/6 Number of Days Daily Balance 5 $7,876.75 6 3/7 - 3/12 3/13-3/20 3/21 - 3/23 8 3/24 - 3/27 3/28 - 3/1 Total Average Daily Balance With Purchases Finance Charge 3 4 5 31 Calculated Value $ 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 more, even more expensive purchases. Make smaller payments.