In the number 0.42, the digit 2 sits in which place, fixing the denominator of the equivalent fraction?

1. The 4 occupies the tenths place, immediately after the point. 2. The next place along is ten times smaller. 3. The 2 sits in the hundredths, so the fraction is 42 hundredths. _Source: OpenStax Prealgebra 2e, Chapter 5, Decimals._