Question

In 1978, the amount of earnings required to earn one Social Security credit was $250. Thirty years later, in 2008, this amount was $1,150. What was the percent increase in the amount required to earn a credit, over this 30-year span? Use a percent sign .

Answer 1

Answer:

the percentage increase is 360%

Step-by-step explanation:

The computation of the increase in percentage is shown below;

Given that

SOcial security credit as on 1978 is $250

And, the social security tax as on 2008 is $1,150

Now based on the above information

The percentage increase is

= ($1,150 - $250) ÷ ($250)

=  360%

Hence, the percentage increase is 360%