K & MM: Abbreviations for Thousand and Million, Simplifying Numerical Representation

This post is part of a series sponsored by Old Republic Surety.

If you find yourself perplexed by the letter abbreviations representing thousands and millions, you’re not alone. This common confusion has deep roots in our cultural history and traditions. Let’s explore the origins of these abbreviations and how to navigate them.

Unraveling the Mystery of “mm”

The use of “M” for thousands and “MM” for millions traces back to Roman numerals, where “M” symbolizes a thousand and “MM” is used to represent a million. However, if we were to consult an ancient Roman, we’d discover that technically “MM” stands for two thousand, with “MMM” indicating three thousand. This historical discrepancy adds a touch of humor to the tradition, much like the tale of an ancient Roman ordering “Five beers, please” with a peace sign gesture.

Decoding the Letter “K”

The letter “K” stands for a thousand, deriving from the Greek word “kilo.” Similarly, the Greeks used “M” for million (meaning Mega). While consistency between Greek and Roman abbreviations would suggest using “G” for billion, it is more common in modern language to see “B” representing billion. This inconsistency even extends to headlines, where “B” for billion is often used casually.

When it comes to writing, guidelines like the 2021 Associated Press Stylebook recommend using figures for amounts less than a million and spelling out “million,” “billion,” and “trillion” for numbers equal to or greater than a million. In headlines, millions are often abbreviated as “M” and billions as “B” for brevity.

For agents and contractors, interacting with surety bond rates and commissions often involves using “M” for thousands and “MM” for millions, as seen in various financial scenarios. Understanding these conventions can help clarify communication in the financial realm.

Need Further Clarity? We’re Here to Assist!

At Old Republic Surety, we prioritize transparency and clear communication. If you encounter confusing abbreviations or have questions, don’t hesitate to reach out to us for clarification. Whether it’s about commercial surety bonds, contract bonds, or any other service we offer, we’re here to help you navigate the intricacies of financial abbreviations.

This blog was originally featured on the Old Republic Surety website and is shared here with permission.