A large pharmaceutical company uses the function f(x) = 1.821x-3346 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 2024.
To predict the amount of money the pharmaceutical company will spend in 2024, we need to substitute the year x = 2024 into the given function f(x) = 1.821x - 3346.
So, f(2024) = 1.821(2024) - 3346
= 3686.904 - 3346
= 340.904
Therefore, the company is predicted to spend approximately 340.904 billion dollars on research and development in 2024.