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Levels Tought:
Elementary,Middle School,High School,College,University,PHD
| Teaching Since: | May 2017 |
| Last Sign in: | 398 Weeks Ago, 2 Days Ago |
| Questions Answered: | 66690 |
| Tutorials Posted: | 66688 |
MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
3.14Â Â Â According to U.S. Census Bureau data (2004), average monthly income for a person with a de- gree in engineering was $5296 versus $3443 for a degree in liberal arts. What is the future value in 40 years of the income difference at an interest rate of 6% per year compounded monthly?
3.15Â Â Â Erbitux is a colorectal cancer treatment drug that is manufactured by ImClone Systems Inc. Assume treatment takes place over a 1 year period at a cost of $10,000 per month and the patient lives 5 years longer than he/she would have lived without the treatment. How much would that person have to earn each month beginning 1 month after treat- ment ends in order to earn an amount equivalent to the total treatment cost at an interest rate of 12% per year compounded monthly?
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