Zero point five (the extra zero is not neccessary).
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Numerically you can drop the prefix zero; hence 050 = 50 50 in word form is 'Fifty'.
Correct answer is .000050
You can write 5.24 in word form as five and twenty-four hundredths
You can write 14.12 in word form as fourteen and twelve hundredths
91 in word form is ninety-one.