The given equation is

This equation represents the value of the car in dollars in t years after its purchase
Since the general form of the exponential equation is

a is the initial value
r is the rate of increase (+) or decrease (-) in decimal
Compare the two equations
a = 23300
That means the purchase value of the car is $23300
Since the value in the bracket is less than 1, then use (1 - r)
1 - r = 0.94
To find r:

Then the rate is 0.06, change it to percent by multiplying it by 100%

The answer is
The value of the care is V at the rate of 6%
The purchase price of the car was $23300