Find the simple interest on a $2,350 principal deposited for 6 years at a rate of 2.77%.

The value of the simple interest of the principal amount that is invested or deposited is calculated through the equation,

             I = P x i x n

where I is the interest, P is the principal amount, i is the interest rate, and n is the number of years. Substituting the known values,

           I = ($2,350)(0.0277)(6) 

           I = $390.57

$390.57