You are looking to purchase a new car for yourself. You have shopped around and found the car of your dreams. It costs $15,000. You have $2,000 in your savings account that you are going to use for a down payment and you plan to borrow the remaining $13,000. You have some different options to choose from for financing the car through your bank and through the car dealership. With the information below, calculate the different options and decide which is the best option for you. Show your calculations:

	APR Compounded Monthly	Term of Loan	Processing Fee	Monthly Payment	Total Amount Repaid	Total Interest Cost
Bank	6%	36 months	---
Dealership	5%	48 months	1%