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 = [tex]\frac{r \%}{100} = \frac{4.8}{100} = 0.048[/tex]
Hence, the value of r to be out in the given formula is r = 0.048.
