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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?