There will be five decimal places.
5 of them.
There are 5 - unless one of the multiplicands ends in 5 and the last digit of the other is even.
probably 3, thousandths place.
At most 3.
Since both multiplicands are integers, then so is their product.
Three hundredths as a decimal number 0.03
0.7 x 0.74 = 0.518
five hundredths = 0.05
0.09 is nine hundredths as a decimal.