Calculating Time into $$
Posted by ycram1 on June 21, 2001 9:09 AM
I have a cell containg a formula that is calculating how many hours are between 6:30am and 3:10pm. The answer is obviously 8 hours and 40 minutes. Ok, I am trying to take that 8 hours and 40 minutes and multiply it by $2.00 looking for an answer of $16.80. End result being, a person is being compensated $2.00 per hour for a job worked in 8 hours and 40 minutes. However, the answer to 8:40 * $2.00 comes back as 0.72. How can I correct this problem?
Posted by Mark W. on June 21, 2001 9:25 AM
Here we go again...
> I am trying to take that 8 hours and 40 minutes and multiply it by $2.00 looking for an answer of $16.80.
The answer is not $16.80 -- it's $17.33! If your
rate is $2.00/hr then you must convert your time
difference, 8:40, to fractional hours by multiply-
ing 8:40 by 24. ="8:40"*24 is 8.6667 hours --
NOT 8.4 hours. And, =8.667*2 is 17.33
