Christopher Browne writes:
> 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:
>
> > 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 .
Australia, at least, has used decimal stock prices for at least as
long as I've had a casual interest in the stock market. So do at
least some other world markets, I believe.
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Robert Merkel [EMAIL PROTECTED]
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