Need assistance or suggestion as to how to figure discount that is based on 1/10th of a penny.
The discount is 1/10th of a penny. So how do I come about finding out what that discount is for $390,936.47? Do I multiple $390,936.47 by .001 to obtain the discount? Or is there are different number other than .001 that I should be using. I was provided with the amount as $867.12 as the discount for 1/10th of a penny of $390,936.47. Not sure how they came up with $867.12. Can anyone assist with this?
If you are dealing with a maths problem that has $'s and fractions of a penny and you need to check the sum. You will need to convert the amounts to one currency. Or have you called the smaller amount a penny when you mean a cent?
The only way I can think of working it out is - if you are talking about USA dollars and UK sterling metric currency - find the current exchange rate convert one amount to the currency then work it out from there.
Here is a currency converter - the rates will change day to day.