Question

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Answer 1

Answer:

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

Step-by-step 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 = $\frac{r \%}{100} = \frac{4.8}{100} = 0.048$

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