No. 2 is a prime but 1/2 is not a repeating decimal.
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Any rational number, whose denominator has a prime factor other than 2 or 5 will have a decimal representation which is repeating. The size of the number, in relation to 1, is irrelevant.
If the denominator of the fraction has any prime factor other than 2 or 5, then it has a decimal representation with a repeating sequence of digits. If the denominator is a product of any number of 2s or 5s then it can be represented as a terminating decimal.
When you get a repeating decimal when dividing, it means that the decimal representation of the quotient has a repeating pattern of digits. This occurs when the divisor (the number you're dividing by) is not a factor of 10, leading to a situation where the division process does not result in a clean, terminating decimal. The repeating decimal is a way to represent the fraction that results from the division in a concise form.
All rational fractions - one integer divided by a non-zero integer - give rise to repeating or terminating decimals. If, for the fraction in its simplest form, the denominator can be expressed as a product of powers of only 2 and 5 then the decimal will terminate. If the denominator has any prime factor other than 2 or 5 the decimal will be recurring. All non-rational fractions will have infinite, non-recurring decimal representations.
A non-terminating repeating number must be rational. When its fractional part is in its simplest form, the denominator must have a prime factor other than 2 or 5.