Question

The annual interest rate on a savings account is 1.5%. What are the decimal and

fraction (in reduced form) values, respectively?
00
015;
1.5;
1.5;
3
200
15
1000
3
20
0.15;
3
20

Answer 1

The annual interest rate of 1.5% is equal to 0.015 (decimal) and 3/200 (fraction).

Step-by-step explanation:

To convert the annual interest rate of 1.5% to decimal form, divide it by 100. So, 1.5% is equal to 0.015 (decimal). To express it as a fraction, we can write it as 15/1000 which can be further simplified to 3/200.

Learn more about Converting a percentage to decimal and fraction