To solve this problem, we can use the formula for simple interest:
I = P * r * t
where I is the interest earned, P is the principal amount (the initial deposit), r is the interest rate as a decimal, and t is the time in years.
We want to find how long it will take for the account balance to earn $1,500 in interest, so we can set up the equation:
$1,500 = $5,000 * 0.025 * t
where t is the time in years.
Simplifying this equation, we get:
t = $1,500 / ($5,000 * 0.025)
t = 12 years
Therefore, it will take 12 years for the balance of the account to earn $1,500 in interest