To calculate the employee's salary at the end of the second year with the company, we need to find 3% of the current salary and add it to the current salary.
Salary at the end of the first year:
40,000 + (40,000 * 0.03) = 40,000 + 1,200 = 41,200
Salary at the end of the second year:
41,200 + (41,200 * 0.03) = 41,200 + 1,236 = 42,436
Therefore, the employee's salary at the end of the second year with the company will be $42,436.
An employee is starting a job with an annual(yearly) salary of 40,000
The employee salary will increase by 3% at the end of each year with the company.
What will the employee salary in dollars be at the end of the second year with the company?
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