Question 8027
If you want to use a calculator for this, then you would enter: 
1.18^(1/12)

Another way is to use logarithms. I don't know whether or not you are familiar with logarithms, but here it is.

Let: {{{x = (1.18)^(1/12)}}} Raise both sides to the 12th power.

{{{x^12 = 1.18}}} Take the log of both sides.

{{{12logx = log(1.18)}}} Divide both sides by 12.

{{{logx = (log(1.18))/12}}} Rewrite in exponential form.

{{{10^(logx) = 10^((log1.18)/12)}}}

{{{x = 10^(0.00599)}}}

{{{x = 1.013888}}} Round to fifth decimal place.

{{{x = 1.01389}}}