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?
What’s 3*% of 80.
(1 point)
Responses
$1200
$1200
$41,200
$41,200
$42,436
$42,436
$1236
The employee's salary at the end of the second year with the company will be $41,200.
Starting salary: $40,000
Salary increase after the first year: $40,000 * 3% = $1,200
Salary after the first year: $40,000 + $1,200 = $41,200
Salary increase after the second year: $41,200 * 3% = $1,236
Salary after the second year: $41,200 + $1,236 = $42,436
Therefore, the correct response is $41,200.