In 1972, the maximum earnings of a worker subject to Social Security tax (SST) was $9,000. The
Question:
In 1972, the maximum earnings of a worker subject to Social Security tax (SST) was $9,000. The maximum earnings subject to SST in 2012 is $110,100. What compound annual increase has been experienced over this 40-year period of time? How does it compare with a 3% annual increase in the consumer price index over this same period of time?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 64% (14 reviews)
We can solve for the compound annual incre...View the full answer
Answered By
Aysha Ali
my name is ayesha ali. i have done my matriculation in science topics with a+ . then i got admission in the field of computer science and technology in punjab college, lahore. i have passed my final examination of college with a+ also. after that, i got admission in the biggest university of pakistan which is university of the punjab. i am studying business and information technology in my university. i always stand first in my class. i am very brilliant client. my experts always appreciate my work. my projects are very popular in my university because i always complete my work with extreme devotion. i have a great knowledge about all major science topics. science topics always remain my favorite topics. i am also a home expert. i teach many clients at my home ranging from pre-school level to university level. my clients always show excellent result. i am expert in writing essays, reports, speeches, researches and all type of projects. i also have a vast knowledge about business, marketing, cost accounting and finance. i am also expert in making presentations on powerpoint and microsoft word. if you need any sort of help in any topic, please dont hesitate to consult with me. i will provide you the best work at a very reasonable price. i am quality oriented and i have 5 year experience in the following field.
matriculation in science topics; inter in computer science; bachelors in business and information technology
_embed src=http://www.clocklink.com/clocks/0018-orange.swf?timezone=usa_albany& width=200 height=200 wmode=transparent type=application/x-shockwave-flash_
4.40+
11+ Reviews
14+ Question Solved
Related Book For
Engineering Economy
ISBN: 978-0133439274
16th edition
Authors: William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Question Posted:
Students also viewed these Business questions
-
On December 31, the payroll register of Hamstreet Associates indicated the following information: Wages and Salaries Expense $8,700.00 Employee Income Tax Payable 920.00 United Way Contributions...
-
On November 30, the payroll register of Webster & Smith indicated the following information: Wages and Salaries Expense $9,400.00 Employee Income Tax Payable 985.00 United Way Contributions Payable...
-
Scout is the vice present for marketing at Sun Field Industries. She earns $140,000 annually and is paid on a semimonthly basis. As of October 31, Scout has year-to-date earnings of $116,666.67. The...
-
How many bits are needed to digitally record 90 seconds of your favorite music tune? The sampling rate commonly used for music is 44.1 kHz (i.e. 44100 Hz). Each sample is represented using 16 bits....
-
Consider Figure 26-3, and suppose that this typical firm has agreed to participate in the proposed cartel. What is the total dollar amount of the firm's economic incentive to cheat on the cartel...
-
CVP analysis, income taxes ICMA, adapted) R. A. Go and Company, a manufacturer of quality handmade walnut bowls, has had a steady growth in sales for the past five years. However, increased...
-
GDL Enterprises has the following account balances at December 31, 2010. The inventory balance was determined using FIFO. GDL Enterprises has determined that the replacement cost (current market...
-
On December 31, 2006 Marsh Company held 1,000 shares of X Company common stock in its portfolio of long-term investments in available-for-sale securities. The stock had cost $15 per share and has a...
-
Suppose you want to borrow $ 1 2 0 comma 0 0 0 and you find a bank offering a 2 0 - year term for a loan of that amount, with an APR of 6 % . a . Find your regular payments if you make them yearly,...
-
Write a method called average that accepts two integer parameters and returns their average as a floating point value.
-
The Dominion Freight Company has invested $50,000 in a new sorting machine that is expected to produce a return of $7,500 per year for the next 10 years. At a 7% annual interest rate, is this...
-
In 1885, first-class postage for a one-ounce letter cost $0.02. The same postage in 2015 costs $0.49. What compounded annual increase in the cost of first-class postage has been experienced over this...
-
A population of beetles that includes both sandy and green individuals is introduced into a grassy environment. How do you expect the population to evolve due to natural selection? Now suppose that...
-
For the following substances, give the electron pair geometry, molecular geometry, and hybridization of the central atom(s). Put your answer in the following format; electron pair geometry, molecular...
-
c. Find the PV of $1,000 due in 6 years if the discount rate is 8%. Round your answer to the nearest cent. $ d. A security has a cost of $1,000 and will return $3,000 after 6 years. What rate of...
-
Your company has bonds that mature in 10 years and have a face value of $1,000. The bonds have an 8 percent quarterly coupon (that is, the nominal coupon rate is 8 percent and hence pays $20 every...
-
Simon Company's year-end balance sheets follow. At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity...
-
Lisa is a graduate student from Holmes Institute who is actively involved in investment in the securities market. She had established one investment portfolio 5 years ago. Required: Lisa's portfolio...
-
An advantage to using a trycatch block is that exceptional events are ____________. A. Eliminated B. Reduced C. Integrated with regular events D. Isolated from regular events
-
Cobb Manufacturing Company uses a process cost system and average costing. The following production data is for the month of June 2011. Production Costs Work in process, beginning of the month:...
-
Suppose that the mechanical engineer in the plant has retrofitted the CVD tool so that it now produces 15 wafers per hour. What is the new breakeven point?
-
Suppose that the average utilization of the CVD tool increased to 90%; however, the operating hours of the fabrication plant were decreased from 168 hours to 150 hours. What are the corresponding...
-
Doris Wade purchased a condominium for $50,000 in 1987. Her down payment was $20,000. She financed the remaining amount as a $30,000, 30-year mortgage at 7%, compounded monthly. Her monthly payments...
-
During the first 10 years of DHS , what were some successes/strengths and failures/weaknesses of the new agency. How efficient and effective is it to have so many functions housed with one agency?...
-
There does not seem to be much to the Organizational Test for tax-exempt status. Why is it so important that the formation documents of the organization have particular language in them?
-
Simon Company's year-end balance sheets follow. At December 31 Assets Cash Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets, net Total assets Liabilities and Equity...
Study smarter with the SolutionInn App