To round to the nearest cent, nearest penny, or nearest hundredth, you will need to locate the hundredths place. Then look at the digit to the right. If it is 5 or above, the number in the hundredths place will be increased by 1 and all the rest of the numbers after it are dropped. If the number is 4 or below, you leave the digit in the hundredths place alone and drop all the rest of the numbers after.
Just remember, if the problem asks you to round to the nearest hundredth, make the end result look like money, meaning only two digits after the decimal point!