Definition
Exact value
An exact value gives the complete value without rounding, cutting off digits, or estimating.
What it means
Keep the form that says the value completely. A fraction can be exact even when its decimal goes on forever. A decimal can also be exact when that decimal is the value given; what matters is whether you changed the value by rounding or estimating.
Remember it
Exact means no information was shaved off to make the number easier to write.
Example
For 7 ÷ 3, the fraction 7/3 is exact. The decimal 2.33 is an approximation because the repeating decimal 2.333… was rounded or cut off.
Watch for
“Exact” does not mean “whole number” or “written as a decimal.” The context decides whether a written decimal is exact or rounded.
Common mix-up
An approximation can be very close to the exact value, but close is not the same as equal.
Exact meaning
An exact value is a number or expression that represents the value without rounding, truncation, or approximation.