if a savings account is opened with an initial deposit of $250, and interest is compounded monthly at 6.25% for 50 years, how much will the account be worth at the end of the 50-year period?

$-9125

Step-by-step explanation:

6.25÷100 = 0.0625                                    50×12=600

0.0625×250= $15.625

6.25%=$15.625

15.625×600= $9375

$250-$9375=  -9125

The given number is a decimal which is a repeating decimals.
=> 8.63 or 8.6333, because it says that is has a 3 repeating decimals.
to convert this into a fraction, simply know the place value of the decimal and divide it with its value
=> 8.63 has 2 digits after the decimal points , so that has a hundredths value
=> 863/100
=> 8 63/100, now a mixed number where 8 is the whole number and 63/100 is the fraction.
=> 8.6333 has 4 digits after the decimal points, so that’s ten thousands value
=> 86 333/10 000
=> 8 6333/10 000, the same value as the other.