What is data type for money?
Unlike the DECIMAL data type, the MONEY data type is always treated as a fixed-point decimal number. The database server defines the data type MONEY(p) as DECIMAL(p,2). If the precision and scale are not specified, the database server defines a MONEY column as DECIMAL(16,2).
What kind of data is money?
The money data type is an abstract data type. Money values are stored significant to two decimal places. These values are rounded to their amounts in dollars and cents or other currency units on input and output, and arithmetic operations on the money data type retain two-decimal-place precision.
Should I use float or double for money?
Float and double are bad for financial (even for military use) world, never use them for monetary calculations. If precision is one of your requirements, use BigDecimal instead.
What data type should be used for money Python?
Python’s float type is a natural first step to represent monetary amounts in the code. Almost all platforms map Python floats to IEEE-754 “double precision”.
How is money stored in a database?
The first important rule is, always store values as fractional units. It can be tempting to store a value such as $10 as 10.00 in your database. However, storing monetary values with a decimal point can cause a lot of issues. Instead, you should always store monetary values in their minor unit form.
What are 4 types of data?
4 Types of Data: Nominal, Ordinal, Discrete, Continuous