$41,200
Explanation:
At the end of the first year with a 3% increase, the employee's salary would be $40,000 + (0.03 x $40,000) = $40,000 + $1,200 = $41,200.
At the end of the second year with another 3% increase, the employee's salary will be $41,200 + (0.03 x $41,200) = $41,200 + $1,236 = $42,436.
So, the employee's salary at the end of the second year will be $42,436.
An employee is starting a job with an annual(yearly) salary of $40,000.
The employee's salary will increase by 3% at the end of each year with the company.
What will the employee's salary, in dollars, be at the end of the second year with the company?
$1200
$1200
$41,200
$41,200
$42,436
$42,436
$1236
1 answer
1 answer