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Tomfoolery posted:I felt bad for my pedantry and looked it up. Some industries such as underwriters use M for thousands, based on the roman numeral. Those sources use MM to be thousand thousand = million which is dumb because the roman numeral MM is 2k. But I guess it means that M is ambiguous while MM isn't. k for thousand and m for million is Greek (kilo and mega). It's an old useage, from before SI units were defined / widespread. Like how (in the US at least) property taxes are determined by the millage or mill rate, which is: quote:Mill rate is also known as the millage rate. The term "millage" is derived from a Latin word millesimum, meaning thousandth, with 1 mill being equal to 1/1000th of a currency unit. As used in relation to property tax, 1 mill is equal to $1 in property tax, which is levied per $1,000 of a property's determined taxable value. So in pre-SI finance, M was thousand and MM was (as noted) million, via thousand-thousand. And a lot of finance and law is of the mind that if something worked in 1750, then it works just fine now.
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Apr 14, 2024 17:20
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