Please Note: This article is written for users of the following Microsoft Excel versions: 2007, 2010, 2013, 2016, 2019, and Excel in Microsoft 365. If you are using an earlier version (Excel 2003 or earlier), this tip may not work for you. For a version of this tip written specifically for earlier versions of Excel, click here: Rounding to the Nearest Half Dollar.

Rounding to the Nearest Half Dollar

Written by Allen Wyatt (last updated December 21, 2019)
This tip applies to Excel 2007, 2010, 2013, 2016, 2019, and Excel in Microsoft 365


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When working with financial data, one common need is to round amounts to some specific point. For instance, you may need to round amounts to the nearest half dollar. The traditional way to perform such a rounding task is to use the ROUND function, with a formula like this:

=ROUND(E27/0.5,0)*0.5

The formula divides the value in E27 by 0.5 (half a dollar), and then rounds it to zero decimal places. The value is then multiplied by 0.5 to get it back to the form you need. If you prefer to not multiply and divide by decimal amounts, you can accomplish the same task in this manner:

=ROUND(E27*2,0)/2

Perhaps an even better approach is to use the MROUND function. This function will round a value to any multiple you specify. In this case, if you want to round the value in E27 to the nearest half dollar, you would use this formula:

=MROUND(E27,0.5)

ExcelTips is your source for cost-effective Microsoft Excel training. This tip (9664) applies to Microsoft Excel 2007, 2010, 2013, 2016, 2019, and Excel in Microsoft 365. You can find a version of this tip for the older menu interface of Excel here: Rounding to the Nearest Half Dollar.

Author Bio

Allen Wyatt

With more than 50 non-fiction books and numerous magazine articles to his credit, Allen Wyatt is an internationally recognized author. He is president of Sharon Parq Associates, a computer and publishing services company. ...

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What is nine minus 3?

2019-12-27 09:22:23

Peter Atherton

Russell
A good point, I didn't know that before. Mind you Allen's formula works correctly with exceptions in the article; and so does his modified Function.

Function cMROUND(Number, Multiple) As Variant
cMROUND = Application.Round(Number / Multiple, 0) * Multiple
End Function


2019-12-23 04:28:32

Russell Stainer

Something to be aware of ... from the Microsoft website - "When a decimal value is provided to the Multiple argument , the rounding direction is undefined for midpoint numbers. For example MROUND(6.05,0.1) returns 6.0 while MROUND(7.05,0.1) returns 7.1."
https://support.office.com/en-gb/article/mround-function-c299c3b0-15a5-426d-aa4b-d2d5b3baf427


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