Question: In solving the following problem, the question is only what value is used for r ? Tony wants to deposit at the end of each

In solving the following problem, the question is only what value is used for r?
Tony wants to deposit at the end of each month into his savings account over 7 years to reach his vacation goal of $30,000.He is getting a 18% APR on his account.
The value of r is: 1.5( Please Explain how to get this answer)

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