1.1: Introduction to Decimal Calculations

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An image of very old US currency bills, the front and back of a $20 bill

In $1784$ , Thomas Jefferson proposed a decimal currency system for the United States based on the Spanish dollar, with coins for $10$ dollars, $1$ dollar, 1⁄10 dollar, and 1⁄100 dollar. One argument he advanced in favor of this system was that the 1⁄100-dollar coin would be similar in value to existing copper coins. The initial currency of the United States was minted in $1792$ with the dollar being equal to $100$ cents. Working with decimals is essential when calculating or analyzing most currency data, whether it be from historical or modern times!