Reduce All Fractions to Their Simplest Forms

question 1

Short Answer

Reduce all fractions to their simplest forms. Convert all improper fractions to mixed numbers. Provide answers in the following format:
Fraction: 3/4
Mixed number: 1 5/8
-How many 1 1/4" long pieces can be cut from a 36' long piece of angle iron? Allow 1/8" waste for each cut.

---

Definitions:

Annual Rates

Interest rates or financial charges that are applied over a one-year period.

Compound Rate

The rate of interest used in calculating compound interest, typically applied over multiple compounding periods.

Investment

The allocation of resources, usually money, in the expectation of generating an income or profit.

Compounded Semiannually

Interest that is computed and appended to the original amount semi-annually.