Money & Finance

Money and Banking

Many business transactions done in the United States require knowledge of commerce and banking. You must be 18 years of age to establish an account, or else a parent or guardian will have to complete the necessary forms on your behalf.

The US Monetary System is a decimal system, with one dollar equal to one hundred cents. One dollar is written as $1 or $1.00. One cent is written as 1¢. One dollar and twenty-five cents would be written as $1.25. Dollar amounts are written with a comma every three digits, so one thousand dollars would be written as $1,000.00.Paper currency is used for amounts of $1 or more, and coins are used for amounts under $1.

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