Home → EstiMate Version 1 → Financials: Hard Numbers Etc. → Why is EstiMate rounding down?

2.37. Why is EstiMate rounding down?

My estimate calulates sales tax and at 5 reverts to second lower order digit and instead of rounding up.

Example: 25.00 x 6.5% =1.625

rounds down to 1.62 instead of rounding up to 1.63

Why is this happening?

EstiMate uses Banker's Rounding, which always rounds to the nearest even
decimal. Therefore 1.625 rounds to 1.62 and 1.635 rounds to 1.64.

The reason for this is to eliminate a creeping bias that will affect
many numbers added together that have all been rounded up.