Direct and Inverse Proportion

For car ages from \(2\) to \(10\) years, a simplified model assumes that value \(V\) dollars is inversely proportional to age \(a\) years. At age \(3\), its value is \(\$24,000\).

1. Find the equation.

2. Estimate its value at age \(8\).

3. Find its age when its value is \(\$12,000\).