4.07
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It is 0.86 when rounded to 2 decimal places
Not necessarily: for example, consider 0.5 * 4 = 2
The number of decimal places for the product will be the summation of the amount of decimal places of the 2 factors. For example, if your products have 2 decimals each to the right of zero then the product will have an answer with 4 decimals to the right of zero.
It is already rounded to 2 decimal places since there are no decimals in this number.
It means to round a decimal number to its nearest hundredth place as for example 2.125 rounded to 2 decimal places is 2.13