Why do most calculators round to the nearest cent?

Most calculators round to the nearest cent when because monetary amounts are generally depicted with only two decimal places. For example, $4.236 is an acceptable dollar amount but $4.24 is much easier to work with and more widely accepted.

To round a number to the nearest cent, round the number to the nearest hundredth. First, identify the digit in the hundredth location. For example, in $4.236, the number 3 is in the hundredth location. Next, pick out the next smallest number value. If the number is greater than or equal to five, round the number in the hundredth location up. If its less than five, round it down.