Step by step calculation:
1. Number of pennies: 50,000
2. Value of 1 penny: $0.01
3. Total value: 50,000 pennies × $0.01/penny = $500.00
Alternatively, you can also convert pennies to dollars by dividing by 100:
50,000 pennies ÷ 100 pennies/dollar = 500 dollars
Either way, the result is the same: 50,000 pennies is equal to $500.
