A large pharmaceutical company uses the function f(x)=1.527x−2987 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.

Question

A large pharmaceutical company uses the function f(x)=1.527x−2987 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.

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Part 1
The company will spend $

enter your response here billion on research and development in 2029.
(Round to three decimal places.)

Answer 1

To determine the amount of money the company will spend in 2029, we need to substitute x = 2029 into the function f(x) = 1.527x - 2987.

f(2029) = 1.527(2029) - 2987

f(2029) = 3095.083 - 2987

f(2029) ≈ $108.083 billion

Therefore, the company will spend approximately $108.083 billion on research and development in 2029.

A large pharmaceutical company uses the function f(x)=1.527x−2987 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.

To determine the amount of money the company will spend in 2029, we need to substitute x = 2029 into the function f(x) = 1.527x - 2987.

A large pharmaceutical company uses the function f(x)=1.527x−2987 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.