Hello angeltomlin!
[tex]\mathfrak{\frac { \frac { 1 } { 16 } } { 3 }}\\ = \mathfrak{\frac{1}{16\times 3}} \\ = \boxed{\mathfrak{\frac{1}{48} \approx 0.0208}}[/tex]
Steps :
Refer to the attached picture if the steps are not clear.
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Lucazz