In a five term arithmetic sequence, the first term is $2020$ and the last term is $4040.$ Find the second term of the sequence. 

[i]Proposed by Ada Tsui[/i]
1. Let the first term of the arithmetic sequence be \( a_1 = 2020 \).
2. Let the common difference be \( d \).
3. The general form of the \( n \)-th term of an arithmetic sequence is given by:
   \[
   a_n = a_1 + (n-1)d
   \]
4. For a five-term arithmetic sequence, the fifth term \( a_5 \) is given by:
   \[
   a_5 = a_1 + 4d
   \]
5. Given that the fifth term is \( 4040 \), we can set up the equation:
   \[
   4040 = 2020 + 4d
   \]
6. Solving for \( d \):
   \[
   4040 - 2020 = 4d
   \]
   \[
   2020 = 4d
   \]
   \[
   d = \frac{2020}{4} = 505
   \]
7. The second term \( a_2 \) of the sequence is given by:
   \[
   a_2 = a_1 + d
   \]
8. Substituting the values of \( a_1 \) and \( d \):
   \[
   a_2 = 2020 + 505 = 2525
   \]

The final answer is \( \boxed{2525} \)