Yоu аre purchаsing а new car fоr $14,000, and have been given a prоmotional offer by the dealership which allows you to purchase the vehicle using 1% APR financing on a 60 month loan. You had planned on using your credit union, which had agreed to finance the car at 6% interest, but you certainly now prefer to accept the dealership’s offer. Given this promotional rate, what is the true cost of this car for you?