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 content area bottom
Part 1
The company will spend ​$
  
enter your response here billion on research and development in 2029.

To predict the amount of money the company will spend in 2029, we need to substitute x = 2029 into the given function:

f(x) = 1.527x - 2987

f(2029) = 1.527(2029) - 2987
f(2029) = 3100.083 - 2987
f(2029) ≈ 113.083

Therefore, the company will spend approximately $113.083 billion on research and development in 2029.