A large pharmaceutical company uses the function f(x)=1.709x-2913 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 2022
The company will spend $ blank billion on research and development in 2022
(Round to three decimal places.)
To predict the amount of money the company will spend in 2022, we need to substitute x = 2022 into the function:
f(2022) = 1.709(2022) - 2913
= 3462.318 - 2913
= 549.318
Therefore, the company will spend $549.318 billion on research and development in 2022.