How to Round to the Nearest Half-dollar with Excel

When you are working with data that involves money and finances, you often need to round amounts to a specific point such as a dollar or perhaps even a half dollar.

The tried and true method has always been to use the ROUND function with a formula like the one below:

=ROUND(A26/0.5,0)*0.5

The formula divides the value in A26 by half a dollar (0.5) and then rounds it to zero decimal places. The value is then multiplied by 0.5 to get it back to the form you want. If you prefer not to multiply and divide by decimal amounts, you can use the method below:

=ROUND(A26*2,0)/2

But, an even better method would be to use the MROUND function. This function will round a value to any multiple that you specify.

In the case at hand, if you would like to round the value in A26 to the nearest half dollar, you would use this formula:

=MROUND(A26, 0.5)

That was easy!

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