Petulia has been following the stock market, and has noticed that it has generally been declining for the last several weeks. Many of her friends have sold stock, but Petulia looks at this situation as a good opportunity to buy. Petulia's views are consistent with the approach to investing in the stock market.

Trey morgan is an employee who is paid monthly. for the month of january of the current year, he earned a total of $4,538. the fica tax for social security is 6.2% of the first $118,500 earned each calendar year, and the fica tax rate for medicare is 1.45% of all earnings for both the employee and the employer. the amount of federal income tax withheld from his earnings was $680.70. his net pay for the month is .