Tolerance within formula for currency not working

[FatalLordes]

Ok, I'm no Excel expert - very basic but I use google to work out things and I generally work things out myself. But I'm stumped on this formula which uses IF statement and ABS for tolerance:

=IF(ABS(B7-B4)<=0.05,"OK",IF(B7>B4,"Over",IF(B7<B4,"Under")))

Both B7 and B4 are currency cells (formatted $0.00). I'm trying to have a tolerance of 0.05. Assuming B4 is $41.66, it works saying "Ok" if B7 is $41.61, or says "Under" if B7 is $41.60 BUT it fails if B7 is $41.71 because it says "Over" when it should say "Ok" as within the +/- $0.05c range. If B7 is $41.70 it works and says "Ok", however, but not when $41.71?? Why is this? And how do I fix it?

 

[FatalLordes]

I worked it out! I needed to add in the ROUND function.

=IF(ROUND(ABS(B7-B4),2)<=0.05,"OK",IF(B7>B4,"Over","Under"))

 

[bebo021999]

It called "Floating point"
In fact, if in any cell you type = B7-B4 with B7=41.715, B4 = 41.66, then hit F9 (evaluate formula) you can see actual result is 0.50000043
Beside round function as your solution you could try:

=IF(ABS(B7-B4)<=0.05001,"OK",IF(B7>B4,"Over",IF(B7<B4,"Under")))

or

=INDEX({"UNDER","OK","OVER"},MATCH(TRUE,B7<=B4+{-0.05001,0.05001,1000000},0))

 

[MARK858]

@FatalLordes The link below explains the issue

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www.microsoft.com

then hit F9 (evaluate formula) you can see actual result is 0.50000043

I think you meant 0.500000000000043