1. The problem is to solve for $y$ in the equation: $$20.48 = 8y$$ 2. To isolate $y$, we use the division property of equality which states that if you divide both sides of an equation by the same nonzero number, the equality remains true. 3. Divide both sides by 8: $$\frac{20.48}{8} = \frac{8y}{8}$$ 4. Cancel the common factor 8 on the right side: $$\frac{20.48}{\cancel{8}} = y$$ 5. Simplify the left side: $$y = 2.56$$ 6. Therefore, the solution is: $$\boxed{y = 2.56}$$