The correct answer is $41,200.
To calculate the salary at the end of the second year, we first need to find the salary increase for the first year.
3% of $40,000 is $1,200. So the salary at the end of the first year will be $40,000 + $1,200 = $41,200.
Now, for the second year, we need to find a 3% increase of $41,200. 3% of $41,200 is $1,236. Adding this to the salary at the end of the first year gives us $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'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?
Percent of a Number (examples, solutions, videos, worksheets, games, activities)
(1 point)
Responses
$1200
$1200
$41,200
$41,200
$42,436
$42,436
$1236
$1236
1 answer
1 answer