One tenth of a cent.
It is also referred to as a "Basis Point." This term is often used to express the change or spread on mortgage and other lending rates that trade fractionally higher or lower on any given day.
Chat with our AI personalities
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.