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Real-Life Math

You are a dancer who owns the City Dance Studio. It is time for year-end accounting and you have to account for the income and expenses of your studio this year.

"I think more dancers should keep up to date with basic math skills. Accounting is huge part of your business, and you being your own business makes it mandatory. Dancers use math in various situations such as budgeting, accounting and negotiations," says Robin Merchant. She is a professional commercial dancer.

This year, your studio brought in $132,899 from lesson fees. You made an additional $3,550 from selling tickets to your performances. Your costs include paying your instructors (three part-time instructors make $20,000 each), advertising budget ($3,000), insurance ($10,000), rent for your studio space ($24,000) and the cost of renting the venue for performances ($750).

Did your studio make money this year?

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OCAP believes that financial literacy and understanding the financial aid process are critical aspects of college planning and student success. OCAP staff who work with students, parents, educators and community partners in the areas of personal finance education, state and federal financial aid, and student loan management do not provide financial, investment, legal, and/or tax advice. This website and all information provided is for general educational purposes only, and is not intended to be construed as financial, investment, legal, and/or tax advice.