Answer
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Step 1I'll solve this step-by-step, following the specified LaTeX and formatting guidelines:
Step 2: Convert pennies to dollars
\frac{700,000 \text{ pennies}}{100 \text{ pennies/dollar}} = 7,000 \text{ dollars}
- We know that 1 dollar = 100 pennies - To convert pennies to dollars, we'll divide the total number of pennies by 100
Final Answer
Key Insights: - Always divide the total number of pennies by 100 to convert to dollars - This works because there are 100 pennies in one dollar - The conversion is a simple division operation
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