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Real-Life Math

You are the manager for a sports society that has 70 individual members. Each of these members pays a $35 membership fee. You also offer a student rate of $15. You have 10 student members. There are 10 corporate and school members who pay an annual membership fee of $50.

Your society needs $2,500. Half of that is for administration costs and the other half is for programs. The programs return about 15 percent in fees.

You need to prepare a budget.

Sue Coyler is the executive officer of a sports society. She says she has to decide "what to do to increase the proportion of the income from members' fees without increasing the fees."

What will your society's budget look like? Do you show a loss or a profit?

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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.