You work for a pharmaceutical company that has developed a new drug. The patent on the drug will last years. You expect that the drug's profits will be million in its first year and that this amount will grow at a rate of per year for the next years. Once the patent expires, other pharmaceutical companies will be able to produce the same drug and competition will likely drive profits to zero. What is the present value of the new drug if the interest rate is per year?

Personal financial planning is the process of creating and achieving financial goals? true or false

The basic difference between macroeconomics and microeconomics is that: a. microeconomics looks at the forest (aggregate markets) while macroeconomics looks at the trees (individual markets). b. macroeconomics is concerned with groups of individuals while microeconomics is concerned with single countries. c. microeconomics is concerned with the trees (individual markets) while macroeconomics is concerned with the forest (aggregate markets). d. macroeconomics is concerned with generalization while microeconomics is concerned with specialization.

How many months does the federal budget usually take to prepare