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Spending on Medicare Based on the current eligibility requirement, a study conducted in 2004 showed that federal spending on entitlement programs, particularly Medicare, would grow enormously in the future. The study predicted that spending on Medicare, as a percentage of the gross domestic product (GDP), will be P(t) = 0.27t2 + 1.4t + 2.2 (0 sts 5) percent in year t, where t is measured in decades, with t = 0 corresponding to 2000.t (Round your answers to two decimal places.) (a) How fast was the spending on Medicare, as a percentage of the GDP, growing in 2030? %/decade How fast will it be growing in 2040? |%/decade (b) What was the predicted spending on Medicare in 2030? What will it be in 2040?

Spending on Medicare Based on the current eligibility requirement, a study conducted in 2004 showed that federal spending on entitlement programs, particularly Medicare, would grow enormously in the future. The study predicted that spending on Medicare, as a percentage of the gross domestic product (GDP), will be P(t) = 0.27t2 + 1.4t + 2.2 (0 sts 5) percent in year t, where t is measured in decades, with t = 0 corresponding to 2000.t (Round your answers to two decimal places.) (a) How fast was the spending on Medicare, as a percentage of the GDP, growing in 2030? %/decade How fast will it be growing in 2040? |%/decade (b) What was the predicted spending on Medicare in 2030? What will it be in 2040?

Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)
Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)
6th Edition
ISBN:9781337111348
Author:Bruce Crauder, Benny Evans, Alan Noell
Publisher:Bruce Crauder, Benny Evans, Alan Noell
Chapter5: A Survey Of Other Common Functions
Section5.4: Combining And Decomposing Functions
Problem 8E
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Spending on Medicare Based on the current eligibility requirement, a study conducted in 2004 showed that federal spending on entitlement programs, particularly Medicare, would grow enormously in the future. The study predicted that spending on Medicare, as a percentage of the gross domestic product (GDP), will be P(t) = 0.27t2 + 1.4t + 2.2 (0 sts 5) percent in year t, where t is measured in decades, with t = 0 corresponding to 2000.t (Round your answers to two decimal places.) (a) How fast was the spending on Medicare, as a percentage of the GDP, growing in 2030? %/decade How fast will it be growing in 2040? %/decade (b) What was the predicted spending on Medicare in 2030? % What will it be in 2040? %
Transcribed Image Text:Spending on Medicare Based on the current eligibility requirement, a study conducted in 2004 showed that federal spending on entitlement programs, particularly Medicare, would grow enormously in the future. The study predicted that spending on Medicare, as a percentage of the gross domestic product (GDP), will be P(t) = 0.27t2 + 1.4t + 2.2 (0 sts 5) percent in year t, where t is measured in decades, with t = 0 corresponding to 2000.t (Round your answers to two decimal places.) (a) How fast was the spending on Medicare, as a percentage of the GDP, growing in 2030? %/decade How fast will it be growing in 2040? %/decade (b) What was the predicted spending on Medicare in 2030? % What will it be in 2040? %
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