First off let/cc is just syntax sugar for call/cc. These are equal:
(let/cc here
(set! c here) 4)
(call/cc
(lambda (here)
(set! c here) 4))
All code no matter how you write it will be run in a particular way and each operation will do one step and then call the continuation of the rest of the program. This:
(define c #f)
(+ 1 (+ 2 (+ 3 (+ (let/cc here (set! c here) 4) 5)))) ; 15
(c 20) ; 31
Turns into something like this:
((lambda (c k)
(call/cc&
(lambda (here k)
(set! c here)
(k 4))
(lambda (v)
(+& v 5 (lambda (a1)
(+& 3 a1 (lambda (a2)
(+& 2 a2 (lambda (a3)
(+& 1 a3 (lambda (a4)
(c 20 k))))))))))))
#f values)
Now notice that the order here now is explicit and surprise the deepest expression is handled first because all the other ones depend on its value being computed first. Also notice that the continuation includes the call to (c 20), every time.
Here are the CPS versions of the used procedures:
(define (+& a b k)
(k (+ a b)))
(define (call/cc& f k)
(f (lambda (v ign-k) (k v)) k))
That last one is perhaps the most clear implementation of call/cc you've ever seen. While the one in your code seems mysterious since the code isn't in continuation passing style, after a Scheme system makes it CPS call/cc wouldn't even be considered a primitive.
For (find-multiple 43) the continuation is just the REPL displaying the result. If you had used it somewhere like (+ 1 (find-multiple 43)) then the continuation would be (lambda (v) (+& 1 v halt))
EDIT
A simpler example:
(let ((x (read)))
(display
(call/cc
(lambda (return)
(- 4 (if (< x 4) x (return 10))))))))
Now When you run this and you enter a value below 4 the call/cc part isn't used, but if it isn't notice that this happens at a time where the next thing it is supposed to do is substract it from 4. In CPS it looks like this:
(read&
(lambda (x)
(call/cc&
(lambda (return& k)
(define (k- v)
(-& 4 v k))
(<& x 4 (lambda (p)
(if p
(k- x)
(return& 10 k-)))))
(lambda (v)
(display& v values)))))
And again here are the &-procedures. These are probably starting to become familiar and hopefully predictable:
(define (<& a b k) (k (< a b)))
(define (-& a b k) (k (- a b)))
(define (display& v k) (k (display v)))
(define (read& k) (k (read)))