2) Michelle deposits $250 into a savings account, The account pays 1.5% simple
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Eighths and their multiples are common fractions which I recommend memorizing, but to actually solve this, you use the literal meaning of a fraction and divide 5 by 8. See the long-division below (it was surprisingly difficult to type, so I hope it helps!).
To round 0.625 to the nearest hundredth, we go to the second decimal place, which is 5, so we round up to 0.63.
To round 0.625 to the nearest hundredth, we go to the second decimal place, which is 5, so we round up to 0.63.