A large pharmaceutical company uses the function f(x) = 1.687x - 3412 to model the amount of money, in billions of dollars, it spends each year on research and development, where x corresponds to the year. Use the function to predict the amount of money it will spend in 2029.
The company will spend $ [ ] billion on research and development in 2029.
(Round to three decimal places.)
To predict the amount of money the company will spend in 2029, we substitute x = 2029 into the function:
f(2029) = 1.687 * 2029 - 3412
f(2029) = 3422.203
Therefore, the company will spend $3422.203 billion on research and development in 2029.