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Medical Assistant

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AVG. SALARY

$34,740

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EDUCATION

1-2 years post-secondary training

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JOB OUTLOOK

Increasing

Real-Life Activities

Real-Life Math -- Solution

Inez, a patient at your medical office needs help figuring out a payment plan so she can pay for a surgical procedure in monthly installments.

Under the first payment plan, how many months will it take Inez to pay off her account?

$1,430 = total bill

$130 = monthly payment

$1,430 / $130 = 11 months

It will take 11 months to pay the bill.

Inez comes back to the office after making 6 months of payments and says that she is unable to keep paying $130 per month. All she can afford is $100 per month. At this new rate, how many more months will it take her to pay off her bill?

6 months x $130 = $780

Inez has already paid $780 towards her total bill.

$1,430 - $780 = $650

She still owes $650 on the account.

$650 / 100 = 6.5

It will take Inez 7 months to pay off the rest of the account. She will make 6 payments of $100, and a final payment of $50 on the 7th month.

"We have to help figure out bills and payment plans for patients, insurance companies and for attorneys," explains May Au, a medical office assistant.


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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.