On Wed, 21 Jun 2000 14:16:58 MST, the world broke into rejoicing as
Randolph Fritz <[EMAIL PROTECTED]> said:
> On Wed, Jun 21, 2000 at 01:08:50PM -0500, Bill Gribble wrote:
> >
> > Actually, that's the question. If every account has a minimum
> > transaction unit, we need to enumerate what they are for every type of
> > account that gnucash can deal with. I'll start: I hypothesize that
> > banks don't do transactions in US Dollars with units smaller than
> > $0.01. Now you tell me about the limits on resolution of the number
> > of shares in a mutual fund account.
> >
>
> I believe, historically at least, banks have used "mils," or $0.001.
> They may use finer divisions now. Currently stock exchanges use
> sixteenths (or is it eights?), but there is talk of going decimal.
I'm quite disappointed in the thought of "heading decimal;" the
fact of using 16ths is entirely compatible with the use of computers;
you can do _exact_ arithmetic with that using binary arithmetic.
In contrast, 0.1 must be represented as a binary continued fraction,
which is _exactly_ why round-off errors occur when you try to manipulate
decimal fractions .
--
[EMAIL PROTECTED] - <http://www.hex.net/~cbbrowne/linux.html>
They are called computers simply because computation is the only
significant job that has so far been given to them.
-- Louis Ridenour
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