Question

...........................

Answer 1

The value of r to be out in the given formula is r = 0.048.

Explanation:

The rate is given as 4.8%.

Now to put the value of interest in the given formula,

We need the value of r.

r =
`(r \%)/(100)   = (4.8)/(100) = 0.048`

Hence, the value of r to be out in the given formula is r = 0.048.