How much would that person have to earn

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Question: Erbitux is a colorectal cancer treatment drug thatis manufactured by ImClone Systems Inc. Assumetreatment takes place over a 1 year period at a costof $10,000 per month and the patient lives 5 yearslonger than he/she would have lived without thetreatment. How much would that person have toearn each month beginning 1 month after treatmentends in order to earn an amount equivalent tothe total treatment cost at an interest rate of 12%per year compounded monthly?

Reference no: EM132210323

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