How do you round to the nearest penny?
Understand the Problem
The question is asking how to round monetary values to the nearest penny. This involves understanding the basic rules of rounding numbers, specifically for currency.
Answer
To round to the nearest penny, use two decimal places and apply rounding rules based on the third decimal.
To round to the nearest penny: If the digit in the third decimal place is less than 5, do not change the second decimal place. If the digit in the third decimal place is 5 or more, increase the second decimal place by one.
Answer for screen readers
To round to the nearest penny: If the digit in the third decimal place is less than 5, do not change the second decimal place. If the digit in the third decimal place is 5 or more, increase the second decimal place by one.
More Information
Rounding to the nearest penny is essential in financial transactions to ensure consistency and accuracy.
Tips
A common mistake is neglecting to check the third decimal place, which can lead to incorrect rounding.
Sources
- Omni Calculator - Round to the Nearest Penny - omnicalculator.com
- Round to the Nearest Cent Calculator - Inch Calculator - inchcalculator.com
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