What alternative functions or methods can be used in PHP to handle precision and rounding issues when working with floating point numbers?

When working with floating point numbers in PHP, precision and rounding issues may arise due to the way computers represent these numbers internally. To handle these issues, PHP provides functions like round(), ceil(), floor(), number_format(), and round() with precision specified.

// Example of using number_format() to handle precision and rounding issues
$number = 10.555;
$roundedNumber = number_format($number, 2);
echo $roundedNumber; // Output: 10.56