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Topic	What if America got rid of Cents?
Naysaspace 03/10/24 4:40:37 AM #14:	Canada did this in 2012. Now, if you pay cash, anything up to 0.02 is rounded down, but 0.03 and up is rounded up. To the nearest nickel. Some businesses run a scam where everything is always rounded up. They gained 3-4 cents, every-other transaction, on this. Back in the day companies could make 1-2 thousand bucks a year on this, just based on volume (assuming 300ish transactions a day). Nowadays, far fewer people use cash, so i imagine its a hundred dollar scam at best. but i did run into one in the wild just last week and thought "hmmm, haven't seen that in a while". --- AMD is the best company in the history of computing! <cite>Naysaspace posted [p:979289095] in What if Am... [t:80717646]...</cite> <quote>Canada did this in 2012. Now, if you pay cash, anything up to 0.02 is rounded down, but 0.03 and up is rounded up. To the nearest nickel.Some businesses run a scam where everything is always rounded up. They gained 3-4 cents, every-other transaction, on this. Back in the day companies could make 1-2 thousand bucks a year on this, just based on volume (assuming 300ish transactions a day). Nowadays, far fewer people use cash, so i imagine its a hundred dollar scam at best. but i did run into one in the wild just last week and thought "hmmm, haven't seen that in a while". --- AMD is the best company in the history of computing!</quote> ... Copied to Clipboard!
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