Answer
$\approx$ 0.862
Work Step by Step
When it comes to place value names to the right of the decimal point, they are (in order from left to right): tenths, hundredths, thousandths.
To round to the thousandths place, we must first identify the number that is in the thousandths place. As the thousandths place is the third place from the decimal point, we can see that the number in the thousandths place is 2:
0.8623
To round, we must therefore look to the next number to its right: 3. As this digit is less than five, we do not need to round up the number in this thousandths place. Therefore, 0.8623 rounds to $\approx$ 0.862.
