Brad bought a car for $31,000, but its value is depreciating at a rate of 9% per year. write an exponential function to represent this situation then calculate how much will the car be worth after 3 years? 8 years? 11 years?

y = 31000(.91)^x

3 years

y = 23360.70

8 years

y = 14577.80

11 years

y = 10985.40

Step-by-step explanation:

Exponential functions

y =ab^x  where a is the initial value

b = 1-rate of depreciation

a = 31000

b = 1 -.09  = .91

y = 31000(.91)^x

3 years

y = 31000 (.91)^3

y = 23360.70

8 years

y = 31000 (.91)^8

y = 14577.80

11 years

y = 31000 (.91)^11

y = 10985.40

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step-by-step explanation: