What kind of money do North America have?

Answer 1

America uses the American dollar and Canada uses the Canadian dollar. The American dollar is based mainly on multiples or divisors of ten, much like the decimal system. The smallest coin in circulation is the cent or penny, which is worth 1/100th of a dollar. There is then the five-cent coin, called a nickel, which is worth five cents or 1/20th of a dollar. The ten-cent coin, called a dime, is worth ten cents or 1/10th of a dollar. The twenty-five cent coin is called a quarter because it is worth 1/4 of a dollar. Though not widely in circulation, there is half-dollar or 50-cent coin, worth 1/2 of a dollar. The dollar itself comes in both coin and paper forms, though the paper form is used nearly exclusively.

Starting with one-dollar we get into paper money or what we refer to as "bills." There is a two-dollar bill, but not widely in circulation. From there we go up to a five-dollar bill, a ten-dollar bill, a twenty-dollar bill, a fifty-dollar bill and a one- hundred dollar bill. There are larger denominations of bills, but again they are not widely circulated.

As an example, if something cost 7 dollars and 69 cents ($7.69) and you paid for it with a ten-dollar bill ($10.00), you would receive 2 one-dollar bills, a quarter, a nickel and one penny ($2.31) in return.

I'm not sure if the Canadian dollar works the same.