Question 1067712
3136.37=2700(1+i)^60, where i= rate divided by 12.
divide by 2700
1.1616=(1+i)^60
without rounding until the end, take logs of both sides.  Some decimal places will be omitted here but round at the end.
.0651=60log (1+i)
divide by 60, both sides
0.00108=log (1+i)
raise everything to the 10th power
1.0025=1+i
subtract 1
i=0.0025
i is the rate divided by 12.  Therefore, multiply by 12 to get the rate.
0.03 or 3% is the rate  ANSWER
1.0025 raised to the 60th power*2700=$3136.37