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1

Floating point numbers are simply not suitable for storing exact but arbitrary numeric values; every floating point number is just an approximation of a numeric value. Sure, some numbers can be represented exactly as a floating point value but many cannot and then you will have an error that can vary a lot, so it's better to always treat them as an ...

3

Using single precision float for money is fatal. Float has only 24 bits of precision, so if you are using dollars, then anything above 2^18 dollars has a resolution worse than one cent. So anything above \$263,000 or so has big problems. Using double precision is much much less of a problem. If you have an amount of one trillion dollars in double precision, ...

3

You're right in being concerned about the use of floats for monetary amounts. Unless they are just used to calculate something which is then properly represented as a rounded scaled decimal (or an integral number of cents, which is equivalent,) they shouldn't be used to represent money. However, the damage that could possibly be caused is very dependent on ...

-3

To my gut feeling, double precision should be quite good for most practical cases. I don't risk to evaluate any numbers at the moment, but I think there is very good chance the errors would be negligible small for any decision making. What can be an issue is that there may be a few cents (or whatever your currency units) in an audited results, like ...

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