The word for the number $76 is spelled out as "seventy-six". It is composed of two words - "seventy" and "six". "Seventy" refers to the number 70, while "six" refers to the number 6. When combined, the two words form the numeral 76. It is important to spell out numbers in words for clarity, especially in situations where there may be confusion about the intended meaning or value of a numerical amount. Additionally, spelling out numbers in words can be beneficial for educational purposes, as it helps individuals become more familiar with the English language and its conventions.