round to the nearest dollar example

by Reyes Lynch Published 4 years ago Updated 2 years ago

Round down for a dollar amount that has 0 to 49 cents. For example, $89.27 rounds down to $89. Round up for dollar amounts that have 50 to 99 cents. For example, $53.52 rounds up to $54.

Full Answer

Do I round up or down to the nearest dollar?

The IRS requires that numbers are rounded to the nearest dollar. .51 cents or more, round up. IRS generally just chops off the change off the end, they don't round. Turbo tax will do the rounding for you.

What does it mean to round to the nearest dollar?

round to the nearest dollar means round the number up or down to reach the nearest whole number/dollar. for example: round $5.49 to the nearest dollar. you would round it to $5.00. round $5.50 to the nearest dollar.

How do you round decimals to the nearest dollar?

Use the following steps as a guide to round decimal values quickly and easily:

Determine the place value of the last digit in the number To round a decimal value, look at the last place value of the number with which you're working. ...
Identify the place value to which you need to round Figure out to which place value you want to round your decimal. ...
Use the rounding rule to estimate the new value

How do you round to the nearest whole dollar?

Rounding to the Nearest Whole

Step 1. : Locate the ones place.
Step 2. The 8 tells us to round up the 6 to a 7.
Step 3. : Rewrite the answer ending in the ones place. ...
28.9995. First, let's use common sense. ...
Step 1. :Locate the ones place.
28.9995
Step 2. : Use the number to the right to determine if you round up or stay the same.
28.9995. ...
Step 3. ...
57.221. ...

More items...

What is round to the nearest dollar?

Answer: Round to the nearest dollar means approx value or round off value to given dollar rate. In other words, round to the nearest dollar defines converting a dollar to its nearest whole number value. Explanation: If the calculated cents are less than 50, the cents are left out of the rounded number.

What is $5.25 rounded to the nearest dollar?

The rounding rule for dollars is as follows: If it is 50 or more cents, you add to the dollar amount. Otherwise, you simply delete the cents. In $5.25, 25 cents is less than 50, so you simply delete the cents.

How do you round cents to the nearest dollar?

Rounding Money AmountsRounding to the nearest cent: Round down for a dollar amount that has 0 to 49 cents. ... Rounding to the nearest cent: Look at the number to the right of the full cents, if the number is five or more, increase the cents by 1. If the number is four or less, keep the cents the same.

How do you round to the nearest 10 dollars?

For example, if you want to round to the nearest ten you'd look at the ones place. If the digit in the next smallest place value is less than five (0, 1, 2, 3, or 4), you leave the digit you want to round to as-is.

1. How do you Round to the Nearest Dollar?

Check for the tenths place in the given amount and if it is >=5 increase the value in the dollar's one place by 1 and remove all the digits after t...

2. How to use Round to the Nearest Dollar Calculator?

Simply provide the input number in the respective input provision and hit on the calculate button to get the number rounded to the nearest dollar.

3. Where do I get a detailed procedure for rounding to the nearest dollar?

You can get a detailed procedure for rounding to the nearest dollar on our page.

4. What is $9.14 rounded to the nearest dollar?

$9.14 rounded to the nearest dollar is $ 9.

1. How do you Round to the Nearest Dollar?

Check for the tenths place in the given amount and if it is >=5 increase the value in the dollar's one place by 1 and remove all the digits after t...

2. How to use Round to the Nearest Dollar Calculator?

Simply provide the input number in the respective input provision and hit on the calculate button to get the number rounded to the nearest dollar.

3. Where do I get a detailed procedure for rounding to the nearest dollar?

You can get a detailed procedure for rounding to the nearest dollar on our page.

4. What is $9.14 rounded to the nearest dollar?

$9.14 rounded to the nearest dollar is $ 9.

Separate the price into dollars and cents

In the hypothetical price of $18.75, the dollars portion is 18 and the cents portion is 75.

Analyze the cents portion of the price

In a price rounded to the nearest dollar, the number of cents is always 0. When there are 50 to 99 cents in the pre-rounded price, round up. When there are fewer than 50 cents in the pre-rounded price, round down.

Add one to the dollars if necessary

Increase the number of dollars in the rounded price by one when rounding up. Do not change the number of dollars when rounding down. The example price of $18.75 rounds up to $19. To illustrate the rounding process more fully, $18.50, $18.90 and $18.99 all round up to $19. On the other hand, $18.01, $18.25 and $18.49 all round down to $18.

Rounding to the nearest dollar

Round down for a dollar amount that has 0 to 49 cents. For example, $89.27 rounds down to $89.

Rounding to the nearest cent

Look at the number to the right of the full cents, if the number is five or more, increase the cents by 1. If the number is four or less, keep the cents the same.

How to use the ROUND Function in Excel?

To understand the uses of the ROUND function, let’s consider a few examples:

Additional resources

Thanks for reading CFI’s guide to the Excel ROUND function. By taking the time to learn and master these Excel functions, you’ll significantly speed up your financial analysis. To learn more, check out these additional CFI resources:

Round Price to Nearest Dollar

There are several rounding functions that you can use to round prices. We will walk through each function below, but they will all take the same num_digits = 0 input to round to the nearest dollar.

Round Price to Nearest Cent

By setting the num_digits input to 2 we can round to the nearest cent.

Round Price to end in 99

By subtracting .01 from any of the above formulas, we can round a price to end in 99 cents.

Round Price to Nearest Dollar or Cent in Google Sheets

All of the above examples work exactly the same in Google Sheets as in Excel.

Calculator Use

Rounding calculator to round numbers up or down to any decimal place. Choose ones to round a number to the nearest dollar. Choose hundredths to round an amount to the nearest cent.

Rounding Numbers

Say you wanted to round the number 838.274. Depending on which place value you'll round to, the final result will vary. Rounding 838.274:

Basic Rules of Rounding

When you "round to the nearest _____" regardless of what goes in the blank the steps are nearly always the same:

Related Calculators

To learn how to round a number to the nearest multiple see our Round to Nearest Multiple Calculator. Round to multiples of whole numbers or decimals such as tenths, hundredths, thousandths, etc.

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