# SOLUTION: Alex loans \$3,000 and then was paid back \$4,500 after 1 year, how much more did he get back and what was the interest rate?

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 Click here to see ALL problems on Money Word Problems Question 251580: Alex loans \$3,000 and then was paid back \$4,500 after 1 year, how much more did he get back and what was the interest rate? Answer by richwmiller(9144)   (Show Source): You can put this solution on YOUR website!4500-3000=1500 1500=3000*r What mafia loan shark was this? Oh, Payday Loans.