An employee is starting a job with an annual salary of $65,000. The employee’s annual salary will increase by 3% at the end of each year with the company. What will the employee’s annual salary, in dollars, be at the end of the second year with the company?(1 point)
To calculate the employee's annual salary at the end of the second year, we first need to find the increase in salary after the first year.
The increase in salary after the first year is 3% of $65,000, which is (3/100) * $65,000 = $1,950.
So, at the end of the first year, the employee's salary will become $65,000 + $1,950 = $66,950.
Now, we need to find the increase in salary after the second year. Again, it will be 3% of $66,950, which is (3/100) * $66,950 = $2,008.50.
Therefore, at the end of the second year, the employee's annual salary will be $66,950 + $2,008.50 = $69,958.50. Answer: \boxed{69,958.50}.