Final answer:
It is true that to multiply by a percent, you must use its decimal equivalent. Percentages are fractions with a denominator of 100 and are converted to decimals for calculations.
Step-by-step explanation:
To multiply by a percent, it is indeed true that you must key in the decimal equivalent of the percent. This is because a percent is essentially a fraction with a denominator of 100. For example, 25% is equal to the fraction 25/100, which simplifies to 0.25 in decimal form.
To convert a decimal to a percent, you write the decimal as a fraction and, if necessary, adjust it to have a denominator of 100.
Then you express that fraction as a percent. So, for instance, to convert 0.86 to a percent, you write it as 86/100, which corresponds to 86%.