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Annual Award Amount Rounding: The recompute formula applies a 9 percent reduction to the calculated award. The following provides guidance concerning the rounding of MAP awards once the calculated award is reduced by 9 percent.
The regular annual award amount is calculated using the recompute formula, then is reduced by 9 percent (i.e., multiplied by .91) and rounded to the nearest whole dollar (rounding upward from .500 and downward from .499).
Example:
Step 1) Calculate Regular Annual Award Amount = $4,968.00
Step 2) Apply Reduction Factor = $4,968.00 x 0.91 = $4,520.88
Step 3) Round to Nearest Whole Dollar = Round $4,520.88 to $4,521.00
Reduced Annual Award Amount = $4,521.00
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