One thousandth of a cent. [One percent of a dollar is one cent.]
A cent is one hundredth of a dollar (in fact, the word "cent" is from a Latin word meaning "hundred"). So no, one tenth of a penny is not one hundredth of a dollar. (It is actually one thousandth of a dollar.)
What is one thousandth
The prefix meaning "one thousandth" is milli-. For example, a thousandth of a metre is a millimetre. A thousandth of a gram is called a milligram.
The prefix for "one thousandth" is milli. Therefore, one thousandth of a second is a millisecond.
One thousandth of a cent. [One percent of a dollar is one cent.]
That's called a "millage tax" or simply a "millage", because one thousandth is one mil .
mill
Mill
Same difference!
Mill
A fee levied on property at one thousandth of a dollar is usually property taxes. Different types of property taxes are assessed on realty depending on the location of the property.
A cent is one hundredth of a dollar (in fact, the word "cent" is from a Latin word meaning "hundred"). So no, one tenth of a penny is not one hundredth of a dollar. (It is actually one thousandth of a dollar.)
What is one thousandth
Our 22nd and 24th President Grover Cleveland appeared on the 1000 dollar bill
Property tax in the US is calculated in mils, which is 1/1000 of a dollar (1/10 of a cent.)
Oh, dude, there are 10 ten-thousandths in one thousandth. It's like breaking down a dollar into pennies, but way more decimal places. So, if you're ever in a situation where you need to know that, you're welcome.