What are some best practices for converting numerical values to a specific format for output in PHP, such as percentages in the given scenario?

When converting numerical values to a specific format for output in PHP, such as percentages, it is important to ensure that the formatting is consistent and accurate. One common approach is to use the number_format() function in PHP to format the numerical value as a percentage with a specified number of decimal places.

// Convert numerical value to percentage format with 2 decimal places
$value = 0.75;
$percentage = number_format($value * 100, 2) . '%';

echo $percentage; // Output: 75.00%