A hundredth of a dollar is exactly ONE PENNY.
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The number 65.76 is already rounded to the nearest hundredth.
A cent is one hundredth of a dollar (in fact, the word "cent" is from a Latin word meaning "hundred"). So no, one tenth of a penny is not one hundredth of a dollar. (It is actually one thousandth of a dollar.)
14.20
Well think about this, would you rather have one tenth of a dollar or one one hundredth of a dollar? In other words YES
The decimal $0.01 show's that one penny is one hundredth of a dollar.