Round to two decimal places

How does one write the formula for Excel to do the following:

12.896X.60=7.738 and then round to the nearest cent, as in this example I want 7.738 to appear as 7.74

Thanks!!!

=round(a1*b1, 2)

There are two other things you can choose if you incase need it in a scenario

Roundup(a1*b1,2) will always round up to the next integer
Rounddown(a1*b1,2) will always ignores any decimal value and retains the number to the resulted integer