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Pharma Manitoba recently developed a new cold and flu drug that it will bring to market in two ...

Pharma Manitoba recently developed a new cold and flu drug that it will bring to market in two years. Sales forecasts indicate that the product will increase the Monthly profits by $180,000. If the R&D cost was $1.2 million, how long after the product enters the market will it take for the additional profits to repay the original R&D costs? Assume a return on investment of 15% compounded quarterly?

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Business Mathematics in Canada

Edition: 11^th

Authors: Jerome, Worswick

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