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Real-Life Activities

Real-Life Math -- Solution

You're not sure how much monthly interest you'll need to pay on a $15,000 loan.

Using the agency's formula for figuring out interest, you determine:

$15,000 loan x 0.06 = $900 total interest
$900 total interest / 365 days per year = 2.47 x 30 days between payments = $74.10 monthly interest payment

You're looking at payments of $74.10 per month while working on the film.

The interest payments are manageable, so now you just hope the film is successful enough to pay back the principal!

"Sometimes I feel like an accountant, surrounded by budgets and figures," says Paul Arneault, who says this is one of the realities of a producer's job.