determine the cost of a credit for 3,300 loan with simple interest
To determine the cost of a credit for a $3,300 loan with simple interest, you need to know the interest rate or the amount of interest charged for a specific period.
Let's assume the interest rate is 5% per year. To calculate the cost of credit, we use the formula:
Cost of credit = Principal (loan amount) x Interest rate
Cost of credit = $3,300 x 0.05 = $165
Therefore, the cost of the credit for this $3,300 loan with a simple interest rate of 5% per year would be $165.