Sure, let's solve this step-by-step.
1. Convert the Percentage to a Decimal:
- Percentages are fractions out of 100, so we'll convert 1.5% to its decimal form.
- To do this, divide the percentage by 100:
[tex]\[
1.5\% = \frac{1.5}{100} = 0.015
\][/tex]
2. Multiply the Decimal by the Amount:
- Now we multiply the decimal form of the percentage by the given amount, [tex]$125:
\[
0.015 \times 125 = 1.875
\]
3. Round the Result to the Nearest Cent:
- Lastly, we round the result to the nearest cent. In monetary terms, this means rounding to two decimal places:
\[
1.875 \approx 1.88
\]
So, 1.5% of $[/tex]125 is $1.88 accurate to the cent.
