To round the number 264.705 to the nearest hundredth, we focus on the third decimal place:
- The hundredths place is the second digit after the decimal, which is 0 in this case.
- The next digit (the thousandths place) is 5.
According to rounding rules, if the digit in the next place (thousandths) is 5 or greater, we round up the hundredths place by 1.
Since the thousandths digit is 5, we round up the hundredths place:
- The hundredths place (0) becomes 1.
Thus, rounding 264.705 to the nearest hundredth gives us 264.71.