Answer
$cos~(2~sin^{-1}~\frac{1}{4}) = \frac{7}{8}$
Work Step by Step
Let $~~\theta = sin^{-1}~\frac{1}{4}$
Then: $~~sin~\theta = \frac{1}{4}$
We need to find $cos~2\theta$:
$cos~2\theta = 1-2~sin^2~\theta$
$cos~2\theta = 1-2~(\frac{1}{4})^2$
$cos~2\theta = \frac{7}{8}$
Therefore, $~~cos~(2~sin^{-1}~\frac{1}{4}) = \frac{7}{8}$