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 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)
First, calculate the amount of increase the employee will receive in the first year: $65,000 * 3% = $<<65000*3*.01=1950>>1,950
Then calculate the employee's salary after one year: $65,000 + $1,950 = $<<65000+1950=66950>>66,950
Then calculate the amount of increase the employee will receive in the second year: $66,950 * 3% = $<<66950*3*.01=2008.5>>2,008.5
Then calculate the employee's salary after two years: $66,950 + $2,008.5 = $<<66950+2008.5=68958.5>>68,958.5. Answer: \boxed{68,958.5}.