Mathematics, 07.03.2020 00:12 McSporter
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) = 0.27t^2 + 1.4t + 2.1 (0 <= t <= 5) percent in year t, where t is measured in decades, and t = 0 corresponds to 2000. (Round your answers to two decimal places.)
a. How fast will the spending on Medicare, as a percent of the GDP, be growing in 2030?
b. What will the predicted spending on Medicare be in 2030?
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