Multiplying by cells vs. raw numbers

[retcol]

I am trying to calculate a salary increase for an employee. The hourly salary is $26.15. If I multiple that by 2080 hours (full time employee) I get $54,392.00.

Then I checked it by calculating by gross salary times the rate of increase. In that case, I get $54,397.50. Does anyone have any ideas why they came out different?

[MrShorty]

My guess is that something (probably the hourly rate?) is not exactly what you show. Assuming that the hourly rate is subject to a rounding error, I can divide 54397.5/2080 and get 26.15264... (which would display as 26.15 rounded to 2 decimal places) -- suggesting to me that the hourly rate is not exactly 26.15, but something slightly larger than 26.15.

Is that a possibility or is the hourly rate exactly 26.150000000000?