Rounding Money

Front

What is rounding in mathematics?

Back

Rounding is the process of adjusting the digits of a number to make it simpler or to make it easier to work with, typically by increasing or decreasing the number to the nearest specified place value.

Front

What does it mean to round to the nearest dollar?

Back

Rounding to the nearest dollar means adjusting a monetary amount to the closest whole number, where amounts of 0.50 or higher are rounded up, and amounts below 0.50 are rounded down.

Front

How do you round $12.78 to the nearest dollar?

Back

$12.78 rounds to $13.00 because the decimal part (0.78) is greater than 0.50.

Front

How do you round $98.99 to the nearest dollar?

Back

$98.99 rounds to $99.00 because the decimal part (0.99) is greater than 0.50.

Front

What is the rule for rounding numbers?

Back

The rule for rounding numbers is: if the digit after the rounding place is 5 or greater, round up; if it is less than 5, round down.

Front

Round $123.45 to the nearest dollar.

Back

$123.45 rounds to $123.00 because the decimal part (0.45) is less than 0.50.

Front

Round $890.50 to the nearest dollar.

Back

$890.50 rounds to $891.00 because the decimal part (0.50) is equal to 0.50, which means you round up.

Front

Round $281.90 to the nearest dollar.

Back

$281.90 rounds to $282.00 because the decimal part (0.90) is greater than 0.50.

Front

What is the significance of rounding in financial transactions?

Back

Rounding is significant in financial transactions to ensure accuracy in billing, accounting, and reporting, making it easier to handle currency.

Front

Can you give an example of rounding a number down?

Back

An example of rounding down is $45.49, which rounds to $45.00 because the decimal part (0.49) is less than 0.50.