4. We learned that the U.S. grants patents to pharmaceutical drug companies. Much of the
general public think that's the reason why drug prices are so high. Congress is considering
legislation to address that. Consider the following two examples and explain its potential
impact on prices and the quality of health care.
a. Senator Connie suggests reducing the length of patents and allowing more generic drugs
to enter the marketplace sooner, so that it will drive prices lower.]
b. Senator Danielle wants to maintain patents so that drug companies will have an
incentive to conduct research and development of new drugs.
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Ответ:
d. $130,000 approx
Explanation:
Data provided
Present value = $40,000
Growth rate = 3%
Number of years = 40%
The calculation of future value is shown below:-
FV = PV × (1 + i)^n
Where, FV = future value of salary, PV = present value of salary, i = growth rate, n=years
= $40,000 × (1 + 3%)^40
= $40,000 × (1.03)^40
= $40,000 × 3.262037792
= $130,481.5117
= $130,000 approx