Final answer:
To calculate 131% of $531.21, multiply 1.31 by $531.21 to get $695.6851 and then round to the nearest cent, resulting in $695.69.
Step-by-step explanation:
Completing the statement 131% of $531.21 equals: To find this, convert 131% to a decimal by dividing by 100, giving us 1.31. Then, multiply 1.31 by $531.21 to get the calculator answer which is $695.6851. Since we need to round to the nearest cent, we look at the third decimal place (thousandths place). If it is 5 or greater, we round up. Since the digit in the thousandths place is an 8, we round up to $695.69.