Erbitux is a colorectal cancer treatment drug that is, Ask an Expert

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Erbitux is a colorectal cancer treatment drug that is manufactured by ImClone Systems, Inc. Assume treatment takes place over a one-year period at a cost of $20,000 per quarter.

a. What is the total cost of treatment at the end of the year at an interest rate of 12% per year compounded quarterly?

b. If the patient lives 4 years after the treatment completed, how much would that person have to earn each quarter beginning 1 quarter after treatment ends in order to earn an amount equivalent to the total treatment cost at an interest rate of 12% per year compounded quarterly?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92356950

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