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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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Q: How would you round 1.1175 to the nearest cent?
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