Answer:
\(\frac{17}{400}\).
Step-by-step explanation:
We have been given that the Franklins have a home loan with an interest rate of 4 1/4%. We are asked to change the percent as a fraction in simplest form.
\(4\frac{1}{4}\%=\frac{17}{4}\%\)
We know percent means per 100.
\(\frac{17}{4}\%=\frac{\frac{17}{4}}{100}\)
Using \(\frac{\frac{a}{b}}{c}=\frac{a}{bc}\), we will get:
\(\frac{\frac{17}{4}}{100}=\frac{17}{4\cdot 100}\)
\(\frac{\frac{17}{4}}{100}=\frac{17}{400}\)
Since we cannot further simplify our fraction, therefore, our required fraction would be \(\frac{17}{400}\).
