{"id":36,"date":"2018-03-19T15:51:23","date_gmt":"2018-03-19T15:51:23","guid":{"rendered":"https:\/\/courses.lumenlearning.com\/wm-accountingformanagers\/?post_type=chapter&#038;p=36"},"modified":"2024-04-26T22:01:54","modified_gmt":"2024-04-26T22:01:54","slug":"introduction-to-decimal-calculations","status":"publish","type":"chapter","link":"https:\/\/courses.lumenlearning.com\/wm-accountingformanagers\/chapter\/introduction-to-decimal-calculations\/","title":{"raw":"Introduction to Decimal Calculations","rendered":"Introduction to Decimal Calculations"},"content":{"raw":"<img class=\"aligncenter wp-image-862\" src=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/2985\/2018\/03\/08162448\/US-20-LT-1880-Fr-145-300x259.jpg\" alt=\"An image of very old US currency bills, the front and back of a $20 bill\" width=\"565\" height=\"488\" \/>\r\n\r\n&nbsp;\r\n\r\nIn [latex]1784[\/latex],\u00a0Thomas Jefferson\u00a0proposed a decimal currency system for the United States based on the\u00a0Spanish dollar, with coins for [latex]10[\/latex] dollars, [latex]1[\/latex] dollar, 1\u204410 dollar, and\u00a0 1\u2044100\u00a0dollar. One argument he advanced in favor of this system was that the 1\u2044100-dollar coin would be similar in value to existing copper coins. The initial currency of the\u00a0United States\u00a0was minted in [latex]1792[\/latex] with the\u00a0dollar\u00a0being equal to [latex]100[\/latex] cents. Working with decimals is essential when calculating or analyzing most currency data, whether it be from historical or modern times!","rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-862\" src=\"https:\/\/s3-us-west-2.amazonaws.com\/courses-images\/wp-content\/uploads\/sites\/2985\/2018\/03\/08162448\/US-20-LT-1880-Fr-145-300x259.jpg\" alt=\"An image of very old US currency bills, the front and back of a $20 bill\" width=\"565\" height=\"488\" \/><\/p>\n<p>&nbsp;<\/p>\n<p>In [latex]1784[\/latex],\u00a0Thomas Jefferson\u00a0proposed a decimal currency system for the United States based on the\u00a0Spanish dollar, with coins for [latex]10[\/latex] dollars, [latex]1[\/latex] dollar, 1\u204410 dollar, and\u00a0 1\u2044100\u00a0dollar. One argument he advanced in favor of this system was that the 1\u2044100-dollar coin would be similar in value to existing copper coins. The initial currency of the\u00a0United States\u00a0was minted in [latex]1792[\/latex] with the\u00a0dollar\u00a0being equal to [latex]100[\/latex] cents. Working with decimals is essential when calculating or analyzing most currency data, whether it be from historical or modern times!<\/p>\n\n\t\t\t <section class=\"citations-section\" role=\"contentinfo\">\n\t\t\t <h3>Candela Citations<\/h3>\n\t\t\t\t\t <div>\n\t\t\t\t\t\t <div id=\"citation-list-36\">\n\t\t\t\t\t\t\t <div class=\"licensing\"><div class=\"license-attribution-dropdown-subheading\">CC licensed content, Original<\/div><ul class=\"citation-list\"><li>Introduction to Decimal Calculations. <strong>Provided by<\/strong>: Lumen Learning. <strong>License<\/strong>: <em><a target=\"_blank\" rel=\"license\" href=\"https:\/\/creativecommons.org\/licenses\/by\/4.0\/\">CC BY: Attribution<\/a><\/em><\/li><\/ul><div class=\"license-attribution-dropdown-subheading\">CC licensed content, Shared previously<\/div><ul class=\"citation-list\"><li>Decimalisation of currency. <strong>Located at<\/strong>: <a target=\"_blank\" href=\"https:\/\/en.wikipedia.org\/wiki\/Decimalisation\">https:\/\/en.wikipedia.org\/wiki\/Decimalisation<\/a>. <strong>License<\/strong>: <em><a target=\"_blank\" rel=\"license\" href=\"https:\/\/creativecommons.org\/licenses\/by-sa\/4.0\/\">CC BY-SA: Attribution-ShareAlike<\/a><\/em><\/li><\/ul><div class=\"license-attribution-dropdown-subheading\">Public domain content<\/div><ul class=\"citation-list\"><li>Old US $20 Bill. <strong>Located at<\/strong>: <a target=\"_blank\" href=\"https:\/\/commons.wikimedia.org\/wiki\/File:US-$20-LT-1880-Fr-145.jpg\">https:\/\/commons.wikimedia.org\/wiki\/File:US-$20-LT-1880-Fr-145.jpg<\/a>. <strong>License<\/strong>: <em><a target=\"_blank\" rel=\"license\" href=\"https:\/\/creativecommons.org\/about\/pdm\">Public Domain: No Known Copyright<\/a><\/em><\/li><\/ul><\/div>\n\t\t\t\t\t\t <\/div>\n\t\t\t\t\t <\/div>\n\t\t\t <\/section>","protected":false},"author":17533,"menu_order":10,"template":"","meta":{"_candela_citation":"[{\"type\":\"original\",\"description\":\"Introduction to Decimal Calculations\",\"author\":\"\",\"organization\":\"Lumen Learning\",\"url\":\"\",\"project\":\"\",\"license\":\"cc-by\",\"license_terms\":\"\"},{\"type\":\"cc\",\"description\":\"Decimalisation of currency\",\"author\":\"\",\"organization\":\"\",\"url\":\"https:\/\/en.wikipedia.org\/wiki\/Decimalisation\",\"project\":\"\",\"license\":\"cc-by-sa\",\"license_terms\":\"\"},{\"type\":\"pd\",\"description\":\"Old US $20 Bill\",\"author\":\"\",\"organization\":\"\",\"url\":\"https:\/\/commons.wikimedia.org\/wiki\/File:US-$20-LT-1880-Fr-145.jpg\",\"project\":\"\",\"license\":\"pd\",\"license_terms\":\"\"}]","CANDELA_OUTCOMES_GUID":"01e6499a-37ac-4c1c-b810-3012ec1008d9","pb_show_title":"on","pb_short_title":"","pb_subtitle":"","pb_authors":[],"pb_section_license":""},"chapter-type":[],"contributor":[],"license":[],"class_list":["post-36","chapter","type-chapter","status-publish","hentry"],"part":22,"_links":{"self":[{"href":"https:\/\/courses.lumenlearning.com\/wm-accountingformanagers\/wp-json\/pressbooks\/v2\/chapters\/36","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/courses.lumenlearning.com\/wm-accountingformanagers\/wp-json\/pressbooks\/v2\/chapters"}],"about":[{"href":"https:\/\/courses.lumenlearning.com\/wm-accountingformanagers\/wp-json\/wp\/v2\/types\/chapter"}],"author":[{"embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/wm-accountingformanagers\/wp-json\/wp\/v2\/users\/17533"}],"version-history":[{"count":7,"href":"https:\/\/courses.lumenlearning.com\/wm-accountingformanagers\/wp-json\/pressbooks\/v2\/chapters\/36\/revisions"}],"predecessor-version":[{"id":1971,"href":"https:\/\/courses.lumenlearning.com\/wm-accountingformanagers\/wp-json\/pressbooks\/v2\/chapters\/36\/revisions\/1971"}],"part":[{"href":"https:\/\/courses.lumenlearning.com\/wm-accountingformanagers\/wp-json\/pressbooks\/v2\/parts\/22"}],"metadata":[{"href":"https:\/\/courses.lumenlearning.com\/wm-accountingformanagers\/wp-json\/pressbooks\/v2\/chapters\/36\/metadata\/"}],"wp:attachment":[{"href":"https:\/\/courses.lumenlearning.com\/wm-accountingformanagers\/wp-json\/wp\/v2\/media?parent=36"}],"wp:term":[{"taxonomy":"chapter-type","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/wm-accountingformanagers\/wp-json\/pressbooks\/v2\/chapter-type?post=36"},{"taxonomy":"contributor","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/wm-accountingformanagers\/wp-json\/wp\/v2\/contributor?post=36"},{"taxonomy":"license","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/wm-accountingformanagers\/wp-json\/wp\/v2\/license?post=36"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}