The equivalent decimal of $\frac{1}{8}$ is:

$\frac{1}{8} = 0.125$

Would you like to know more details about how to perform such conversions? Here are related questions to expand your understanding:

1. How do you convert fractions to decimals in general?
2. What are some examples of other fractions and their decimal equivalents?
3. What is the relationship between decimals and percentages?
4. How is $\frac{1}{8}$ represented as a percentage?
5. Why are some fractions converted to repeating decimals instead of terminating decimals?

Tip: A fraction converts to a terminating decimal if its denominator (in simplest form) has only $2$ and/or $5$ as prime factors.