Ashley invested
1,500 at a local bank with a simple interest rate of 1.5% pa

How many years will it take Ashley to earn $90 interest?

To calculate how many years it will take for Ashley to earn $90 in interest, we can use the simple interest formula:

\[
I = P \times r \times t
\]

Where:
- $ I $ is the interest earned ($90),
- $ P $ is the principal or initial investment ($1,500),
- $ r $ is the annual interest rate (1.5% or 0.015),
- $ t $ is the time in years.

We need to solve for $ t $:

\[
t = \frac{I}{P \times r}
\]

Substituting the known values:

\[
t = \frac{90}{1,500 \times 0.015}
\]

\[
t = \frac{90}{22.5} = 4 \text{ years}
\]

Therefore, it will take Ashley 4 years to earn $90 in interest.

Would you like further details or have any questions?

Here are 5 related questions to explore:
1. What if the interest rate was 2% instead of 1.5%?
2. How much interest would Ashley earn in 6 years?
3. What is the difference between simple interest and compound interest?
4. How would the time change if Ashley invested $2,000 instead of $1,500?
5. How does inflation affect interest earnings over time?

**Tip:** Always check if an investment uses simple or compound interest to understand how the earnings grow.

Ashley invested $1,500 at a local bank with a simple interest rate of 1.5% per annum. How many years will it take Ashley to earn $90 interest?

Learn how to calculate the time it takes to earn $90 in simple interest from a $1,500 investment at a 1.5% annual rate. This solution walks through the simple interest formula and its application, suitable for students in Grades 6-8.

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