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How do I multiply dollars by time?
I am creating a spreadsheet that calculates hours and minutes worked and want to multiply the result by the hourly rate expressed in dollars. Judging by the result I get using the standard time and currency formats, the two format types are not compatible.
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#2
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How do I multiply dollars by time?
Hi Mike R.,
Mike R. wrote: I am creating a spreadsheet that calculates hours and minutes worked and want to multiply the result by the hourly rate expressed in dollars. Judging by the result I get using the standard time and currency formats, the two format types are not compatible. If you entered the values as actual times (eg, 8:30 for 8 hours and 30 minutes), then the values are being stored as fractional parts of days. So if you put in 8:00, which is 1/3 of a day, the approximate value stored in the cell is .3333. It's just that the cell is formatted to look like a time. So, in order to get to the number of hours, you need to multiply by 24. If your times are in column A and your hourly rates are in column B, you can do this: =A2 * B2 * 24 Just format it as currency and you should be all set. -- Regards, Jake Marx MS MVP - Excel www.longhead.com [please keep replies in the newsgroup - email address unmonitored] |
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