Format value using UDF based on format type

I encountered a situation where I had to return formatted value to the front end site based on the format type passed. Format type can be dollar ($), number (#) or percentage (%). I am not sure if this is good way to format value based on type passed, but worked for me perfectly –

IF EXISTS (SELECT * FROM sys.objects WHERE object_id = OBJECT_ID(N'[DW].[fnGetFormattedValue]') AND type in (N'FN', N'IF', N'TF', N'FS', N'FT'))
DROP FUNCTION [DW].[fnGetFormattedValue]
GO

CREATE FUNCTION [DW].[fnGetFormattedValue](
    @Value FLOAT,
    @FormatType Varchar(50)
)

RETURNS VARCHAR(50) 
AS

BEGIN

    DECLARE @ReturnValue VARCHAR(100)
    DECLARE @TempValue DECIMAL(10, 2)

    SET @TempValue = CONVERT (DECIMAL(10, 2), ROUND(@Value, 2))
    SET @ReturnValue =
    
    CASE @FormatType WHEN '$' THEN '$' + CAST (@TempValue AS VARCHAR)
    WHEN '%' THEN CAST (@TempValue AS VARCHAR) + '%'
    WHEN '#' THEN CAST (@TempValue AS VARCHAR)
    ELSE CAST (@TempValue AS VARCHAR)
    END

    RETURN @ReturnValue

END
GO