Answer:
Rounding to nearest hundredths gives us r=0.06.
So r is about 6%.
Explanation:
So we are given:

where


.


Divide both sides by 1600:

Simplify:

Take the 6th root of both sides:
![\sqrt[6]{(23)/(16)}=1+r](https://img.qammunity.org/2020/formulas/mathematics/middle-school/24ca590p5krwg00tzu6rgzdsr1vc82oa55.png)
Subtract 1 on both sides:
![\sqrt[6]{(23)/(16)}-1=r](https://img.qammunity.org/2020/formulas/mathematics/middle-school/ovgx728nrgid8qj5s6px9k466kdqeo0qci.png)
So the exact solution is
![r=\sqrt[6]{(23)/(16)}-1](https://img.qammunity.org/2020/formulas/mathematics/middle-school/juka2q2fzryx73sg4593fo5iu2cyyag53g.png)
Most likely we are asked to round to a certain place value.
I'm going to put my value for r into my calculator.
r=0.062350864
Rounding to nearest hundredths gives us r=0.06.