To calculate the employee's annual salary at the end of the second year, we need to first find the increase in salary for the first year and the second year.
Increase in salary for the first year:
3% of $65,000 = $65,000 * 0.03 = $1,950
Salary after the first year:
$65,000 + $1,950 = $66,950
Increase in salary for the second year:
3% of $66,950 = $66,950 * 0.03 = $2,008.50
Salary at the end of the second year:
$66,950 + $2,008.50 = $68,958.50
Therefore, the employee's annual salary at the end of the second year will be $68,958.50.
The answer is: d) $68,958.50
An employee is starting a job with a annual salary of $65,000 the employee salary will increase by 3% at the end of each year with the company what will be the employees annual salary in dollars be at the end of the second year with the company 863.05 0.5 0 b65 point 300.000c 666.95 0.00d68.958.550
1 answer
1 answer