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Real-Life Math

Depending on what you're writing about, you may not have to do much math as a novelist. There are, however, financial matters to attend to, and that always involves crunching some numbers.

You and a friend have had a paperback book published. Since you wrote it together, you decide to split the royalties in half. The royalties on paperbacks are 7 percent of the cover price.

Your publisher already gave you a $3,000 advance when the book went to press. That means $3,000 will be deducted from your royalty earnings. The price of the book is $8.95 per copy and 47,612 copies are sold.

How much can each of you expect to get in royalty checks?

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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.