Yes, a number in the ten thousandths place. And then in the hundred thousandths and so on. There need not be any end.
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Third to the right of the decimal point
The name of such a number is a decimal number. The digits after the decimal point represent tenths, hundredths, thousandths, and so on.
To write 0.103 as a fraction, you need to identify the place value of the decimal. The decimal number 0.103 is in the thousandths place. As a fraction, it can be written as 103/1000.
Ninety-three thousandths is a decimal number that can be written as 0.093. In this number, the digit 9 is in the hundredths place, the digit 3 is in the thousandths place, and the decimal point separates the whole number part from the fractional part. This number represents a fraction where the numerator is 93 and the denominator is 100.
The third decimal place in this example is occupied by the number one: 00.001 (the one is in the thousandths place)