Assuming that is a dollar amount ($1.1175), then the nearest cent is to 2 decimal places. If the 3rd decimal place is less than half way to the next cent, it rounds down otherwise it rounds up.
7 is not less than half way (10÷2 = 5) to the next cent so it rounds up:
⇒ $1.1175 → $1.12
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what is 2.857 to the nearest cent
You have asked to round the number to the nearest cent, but you have not said what the units are which that number represents. If it is 386.75 cents, then if we round it to the nearest cent, we get 387 cents. If, however, it is $386.75 then you can't round it to the nearest cent, you could only round it to the nearest dollar (in which case the answer would be $387).
Let's say you did a calculation and the answer was 15.56 cents. You would round up to the nearest cent so your answer would be 16 cents. If the answer were 15.2 cents you would round down to the nearest cent and the answer would be 15 cents. AT 15.5 you could round up or down.
0.26
1.24