Real-Life Math -- Solution
1. What will be the total cost for the lab?
Cost = (36 x $2,200) + $1,800 + (36 / 2 x $100) + $5,000 + ($500 x 36)
Cost = $79,200 + $1,800 + $1,800 + $5,000 + $18,000
Cost = $105,800
The lab will cost $105,800.
2. What percentage of your budget will the lab use up?
($105,800 / $170,000) x 100 = 62
The lab will use up 62 percent of the budget.
High school principals need math skills to work with budgets. City schools have budgets of several million dollars. Deciding what to spend money on, without spending too much, is a constant challenge.
"Certainly, budgets are a big part of a school operation," says principal Rick McDonald. "You apply math in that sense, in the business math sense."
Like all high school principals, McDonald deals with numbers all the time. His school's budget is over $4 million. The textbook budget alone is $80,000.
In recent years, many schools have had to cover expenses with less money from the government. This makes the job of dealing with budgets even more challenging. If you're weak at math, you might get into trouble by overspending.
"If you are not so inclined, I think there is danger there," McDonald says.