The cost of conventional medications for diabetes has risen by an average of 13

Question

The cost of conventional medications for diabetes has risen by an average of 13 3% per year over the past four years. During this same period of time, the cost of a specialty drug for rheumatoid arthritis (RA) has increased 22.3% per year if these increases continue into the foreseeable future, in how many years will an RA medicine now costing $24 per dose be at least five times as expensive as a diabetes inhaler that now costs $9 per use? The minimum number of years required is (Round up to the nearest whole number)

Explanation / Answer

The Minimum Numeber of years required is 9

Year RA (A) Conventional Medicine (B) Times (C = A/B) 0 $ 24 $ 9 1 $ 29.35 $ 10.20 2.88 2 $ 35.90 $ 11.55 3.11 3 $ 43.90 $ 13.09 3.35 4 $ 53.69 $ 14.83 3.62 5 $ 65.67 $ 16.80 3.91 6 $ 80.31 $ 19.04 4.22 7 $ 98.22 $ 21.57 4.55 8 $ 120.12 $ 24.22 4.92 9 $ 146.91 $ 27.69 5.31

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