Question

8313.81=3000(1+r/12)^60 how do you get rid of the exponet

Answer 1

Raise both sides to $\dfrac1{60}$.

$8313.81=3000\left(1+\dfrac r{12}\right)^{60}$
$\implies8313.81^{1/60}=3000^{1/60}\left(\left(1+\dfrac r{12}\right)^{60}\right)^{1/60}$
$\implies1.162=1.143\left(1+\dfrac r{12}\right)$

$\implies r\approx0.1995$