| Places | Ones | Tenths | Hundredths | Thousandths | Ten Thousandths | |
|---|---|---|---|---|---|---|
| 1 | ||||||
| Number | 0 | . | 0 | 5 | 4 | 5 |
| Rounded Number | 0 | . | 0 | 5 | 5 |
- 4 is in the thousandths place and 5 is in the ten thousandths place
- Since the digit in the ten thousandths place (5) is greater than or equal to 5, add 1 to the digit in the thousandths place (4)
- 1 + 4 = 5, so the digit in the thousandths place becomes 5
- The digit in the ten thousandths place is dropped
- 0.0545 rounded to the nearest thousandth (three decimal places) = 0.055
