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Rounding of currency correctly

Rounding of currency correctly

Rounding of currency correctly


I have a form that calculates a tax rate. I need the final number to be fixed to 2 decimals exactly.

I have a textbox called txtTaxCalc, which is set as currency to 2 decimals.

In txtTaxCalc control source i have the following: = 90.9/100*5

This will give an answer of £4.545 (initially it will display £4.54, but when I click into it the number expands to £4.545.

The correct answer for my onward calculation should be £4.55.

I have then tried = Round(90.9/100*5,2) but this gives and answer of £4.54

I'm a bit stuck - please could someone help me to get to the correct answer - i.e. £4.55 without any further decimals.

Many thanks Mark

RE: Rounding of currency correctly

From site Rounding in Access:

Bankers rounding

The Round() function in Access uses a bankers rounding. When the last significant digit is a 5, it rounds to the nearest even number. So, 0.125 rounds to 0.12 (2 is even), whereas 0.135 rounds to 0.14 (4 is even.)

The core idea here is fairness: 1,2,3, and 4 get rounded down. 6,7,8, and 9 get rounded up. 0 does not need rounding. So if the 5 were always rounded up, you would get biased results - 4 digits being rounded down, and 5 being rounded up. To avoid this, the odd one out (the 5) is rounded according to the previous digit, which evens things up.

(I hope this will help you...)

---- Andy

There is a great need for a sarcasm font.

RE: Rounding of currency correctly

Many thanks - makes sense :)

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