To round a number to the nearest cent, follow these steps:

1. Identify the hundredths place (second digit after the decimal).
2. Check the thousandths place (third digit after the decimal).
   • If the thousandths place is 5 or more, round the hundredths place up by 1.
   • If the thousandths place is less than 5, keep the hundredths place the same.

Example:

Let's round 12.346 to the nearest cent:

1. The hundredths place is 4.
2. The thousandths place is 6, which is greater than 5, so we round the hundredths place up to 5.

The answer is 12.35.

Would you like further details or have any questions?

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1. How do I round to the nearest tenth instead?
2. What if I want to round to the nearest dollar?
3. How does rounding apply in percentages?
4. How do rounding rules change for negative numbers?
5. How do you round up or down in scientific notation?

Tip: When rounding to two decimal places, always focus on the third decimal place to determine rounding direction.