If you're dealing with money or a financial problem and need your answer to be rounded to the nearest penny, this calculator is the tool you need.
Don't worry if you don't know what we're talking about; the following article explains:
- What does rounding to the nearest penny means; and
- How to round to the nearest penny.
What does it mean to round to the nearest penny?
Rounding to the nearest penny simply means approximating an amount of money (represented by a number) to two decimals (its pennies). It is the same as we do in our round to the nearest hundredth calculator but applied to finance. In the following table, you can look at some rounding to the nearest penny examples:
Amount | Approximation |
|---|---|
$0.0798 | $0.08 |
$0.5741 | $0.57 |
$-0.6056 | $-0.61 |
$0.2591 | $0.26 |
$-0.5962 | $-0.60 |
$-0.9971 | $-1.00 |
In the FAQ section, we briefly explain how to round to the nearest penny, a procedure you can use to obtain the results of the previous table. In that procedure and the examples, the rounding to the nearest penny uses the half up rounding mode, the most common in math. Even so, there are other less commonly used rounding modes. You can learn more about those modes in our rounding calculator article and enable the calculator to use them by switching to its advanced mode.
💡 If the money amount has fewer than two decimal digits, you don't need rounding, as there are no pennies! However, you can pad the number with trailing zeros: they will not change its value!
Round to the nearest penny in your answer is not the only thing we can do at Omni. The following calculators can round with other precisions:
- Round to the nearest hundred calculator;
- Round to the nearest thousandth calculator](calc:6132);
- Round to the nearest ten calculator;
- Round to the nearest tenth calculator;
- Round to the nearest cent calculator;
- Round to the nearest dollar calculator; and
- Round to the nearest integer calculator.
FAQ
How to round to the nearest penny?
Rounding to the nearest penny implies approximating a number to two decimals, applying these rules:
- If the third decimal is lower than 5, we leave the second decimal as it is. E.g., $1.234 ≈ $1.23; or
- If the third decimal is 5 or greater, we increase the second decimal by one unit. E.g., $1.237 ≈ $1.24. Additionally, when the third decimal is 5 or greater, other rules can apply:
- If the second decimal is 9, we change it to zero and increase the first decimal by one unit. E.g., $1.297 ≈ $1.30; and
- If the first decimal is also 9, we also change it to zero and increase the number to the left of it. E.g., $1.997 ≈ $2.00.
What is $129.207 rounded to the nearest penny?
$129.207 rounded to the nearest penny is $129.21, as rounding to the nearest penny implies keeping a two-decimals precision while increasing the second decimal by one unit if the third one is five or more.
