Answer:
Rounding to nearest hundredths gives us r=0.06.
So r is about 6%.
Step-by-step explanation:
So we are given:
where
.
Divide both sides by 1600:
Simplify:
Take the 6th root of both sides:
Subtract 1 on both sides:
So the exact solution is
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.