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What is #$26.025# rounded to an exact number of cents?

Answer 1

It depends...

Since #$26.025# lies exactly halfway between #$26.02# and #$26.03# we might round either way.

In algebra, we round up, so the answer would be #$26.03#.

In accountancy, there's something called "banker's round" which chooses to round such half-way quantities towards the even value. So using a banker's round the answer would be #$26.02#. The advantage of the banker's round is that on average rounding errors will tend to cancel out.

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Answer from HIX Tutor

When evaluating a one-sided limit, you need to be careful when a quantity is approaching zero since its sign is different depending on which way it is approaching zero from. Let us look at some examples.

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