$450 is deposited monthly for 11 years at 5% per year FV=
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<span>to write 8 21/40 as a decimal we need to write the fraction where denominator is a power of 10.
the denominator now is 40, when we multiply 40 by 25, we get 1000.
then the denominator would be a power of 10.
lets multiply the fraction 21/40 by 25 </span>
<span> 8 21/40 is a mixed fraction made of 8 wholes and a fraction that is now 525/1000.
when dividing by 1000, the decimal point that is after 525 should move 3 decimal places to the left, then the decimal point comes before 525.
then 21/40 is equal to 0.525. since we have 8 wholes; 8 + 0.525 = 8.525</span>
the denominator now is 40, when we multiply 40 by 25, we get 1000.
then the denominator would be a power of 10.
lets multiply the fraction 21/40 by 25 </span>
<span> 8 21/40 is a mixed fraction made of 8 wholes and a fraction that is now 525/1000.
when dividing by 1000, the decimal point that is after 525 should move 3 decimal places to the left, then the decimal point comes before 525.
then 21/40 is equal to 0.525. since we have 8 wholes; 8 + 0.525 = 8.525</span>