Here's how it works:
* K: Represents "thousand". For example, $10K means $10,000.
* M: Represents "million". For example, $5M means $5,000,000.
Here are some examples:
* The company's annual revenue was $20M.
* The new car cost $35K.
* The house is valued at $750K.
When to use K and M:
* Informal settings: These abbreviations are commonly used in informal settings, like casual conversations or emails.
* Financial summaries: They are also used in financial summaries and reports where space is limited.
* Avoiding ambiguity: Using K and M can make large numbers more easily digestible and less prone to misunderstanding.
When to avoid K and M:
* Formal writing: In formal documents, such as contracts or financial statements, it's best to use the full number.
* Precise calculations: When dealing with precise calculations, using the full number is essential to maintain accuracy.
Remember, always use your best judgment when deciding whether or not to use these abbreviations. If there's any doubt, it's always better to err on the side of clarity and use the full numbers.