Step 1: Understanding the Concept
For a first order reaction the rate constant depends only on the half life, and the rate equals the rate constant times the concentration.
Step 2: Find the rate constant
\(k=\dfrac{0.693}{t_{1/2}}=\dfrac{0.693}{69.3\ \text{s}}=1.0\times 10^{-2}\ \text{s}^{-1}\)