query: What is the correct way to multiply between numeric types using Postgresql?

I am new using PostgreSQL, I want to know:

What is the best way to multiply between numerical types with precision two?
I did a trick but I'm sure you must have a solution correctly.
I have this example:

    UPDATE element
Amount of SET = 10.2 * 10.555 * 1.00
WHERE id = 1;

Thanks in advance