Remember that a cent is equal to $0.01. So, you have to round to the nearest 0.0X in 0.4625
In 0.4625, the 0.0X place (the hundredth's place) is the 6. The number after it is a 2, so it stays as 6 and does not go up to 7.
Therefore, $0.4625 rounded to the nearest cent is $0.46