PHP Convert Numbers to K / M / B

function convert_number($n, $precision = 1) {
    if ($n < 1000000) {
        $n_format = number_format($n / 1000, $precision) . 'K';
    } else if ($n < 1000000000) {
        $n_format = number_format($n / 1000000, $precision) . 'M';
    } else {
        $n_format = number_format($n / 1000000000, $precision) . 'B';
    }
    return $n_format;
}