Gene paid a deposit on a leased car. the deposit earns 2.8 percent simple annual interest. at the end of the year, the interest that is earned is $22.40. what was the amount of the original deposit?

Interest = principle * rate * time...
I = PRT...we are going to rearrange this because we are looking for the principle...

I / (RT) = P
I = 22.40
R = 2.8%...turn to a decimal = 0.028
T = 1

sub and solve
22.40 / (0.028(1) = P
22.40 / 0.028 = P
800 = Pamount of original deposit is $ 800 <==