In 1972, the maximum earnings of a worker subject to Social Security tax (SST) was $9,000. The
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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?
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Related Book For 
Engineering Economy
ISBN: 978-0133439274
16th edition
Authors: William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
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