Welcome, to the site and to LaTeX!
Well, the number one thing I cannot stress enough is not to skip in and out of math mode. This is a very common mistake, so don't feel bad about it, but math mode ($ ... $) doesn't mean 'mathify' this, and it isn't primarily a way of getting special characters (although many commands only work in math mode). It's designed for typesetting the entire mathmatical object. Thus all of this:
$\textbf{r} = (\emph{ct - bt^3}) \textbf{\hat{i}}$ +
$\emph{dt^2}/textbf${\hat{j}}$
Should be within one pair of $ ... $. LaTeX's math mode is designed to give you the correct spacing around operators such as + and =, don't circumvent this.
I don't know if /textbf${\hat{j}} is a typo for \textbf${\hat{j}} (i.e. you have / but you meant \) or whether you left out the \: /\textbf${\hat{j}}
$ must not come between \textbf and {.
Using \textbf{} in math mode is not exactly wrong in this case, but it is a bit counter-intuitive. Try \mathbf{}
Using \emph within math mode is definitely wrong. \emph{} is used within text to emphasise it. By default, \emph{} italicises text, but it is not an all-purpose italicisation command. $ ... $ italicises characters by default and the usual problem people have is making things not italicised! It is also a text mode command, which means math mode commands like ^ will not work within \emph{} unless you enter math mode again, totally circumventing the \emph{} in this circumstance, i.e.: \emph{foo $bar^{baz}$}.
\hat{i} will give you an i with a hat over the tittle. Having it bold, and dotless, and with a hat, is a much more difficult task than it may look. Ordinarily, you'd want to use \hat{\imath}, but then it would not be bold. Using \mathbf{} won't make it bold, but loading the bm package and using \bm{\hat{\imath}} will make it bold, but then it won't be upright, it'll be italic.
So, I used this question:
Bold upright i-hat and j-hat for vector notation
As mentioned above, ^ must be used in math mode. \emph{b} = 0.81 m/s^3 will fail.
Also, avoid using \emph{} for variables, use math mode.
What I guess you want:
\documentclass{article}
\usepackage{amsmath}
\newcommand{\ihat}{\boldsymbol{\hat{\textbf{\i}}}}
\newcommand{\jhat}{\boldsymbol{\hat{\textbf{\j}}}}
\begin{document}
The position of an object is given by
$\mathbf{r} = (ct - bt^{3}) \ihat + dt^{2}\jhat$, with constants
$c = 6.7~\mathrm{m}/\mathrm{s}$, $b = 0.81~\mathrm{m}/\mathrm{s}^{3}$,
and $d = 4.5~\mathrm{m}/\mathrm{s}^{2}$
\end{document}

Although you should maybe look into the siunitx package for typesetting units more easily.
The siunitx way. Note the use of \usepackage[per-mode=symbol]{siunitx} in the preamble to give you the solidus for "per", as opposed to, e.g. m s-3
\documentclass{article}
\usepackage{amsmath}
\newcommand{\ihat}{\boldsymbol{\hat{\textbf{\i}}}}
\newcommand{\jhat}{\boldsymbol{\hat{\textbf{\j}}}}
\usepackage[per-mode=symbol]{siunitx}
\begin{document}
The position of an object is given by
$\mathbf{r} = (ct - bt^{3}) \ihat + dt^{2}\jhat$, with constants
$c = 6.7~\si{\metre\per\second}$,
$b = 0.81~\si{\metre\per\cubic\second}$, and
$d = 4.5~\si{\metre\per\square\second}$
$.... + ....$. – Sigur Oct 27 '16 at 13:53siunitx. You would write $b = 0.81 \si{\metre\per\cubic\second}$. – Denis Oct 27 '16 at 14:06