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bpeltzer
 
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Default how to multiply time by money

There's no inherent meaning in the product of time and currency. Is $10
times 1 hour equal to 10? Or 1 minute? 1 day?
If, for your purposes, the answer is hours, then you just need to adjust for
the means by which Excel stores time. To Excel, a day is equal to a value of
1. Thus, an hour is equal to 1/24, a week equals 7, etc. (To see this, just
change the formate from date/time to the comma style). So if you want
hour-dollars, just multiply the date/time value times 24 and then multiply
that by the currency amount: =b3*24*b4.
--Bruce

"chriscadstud" wrote:

Cell b2 is subtracting from b1 to give me a calculation on the amount of time
for that day in b3. But when I try to get cell b4 (which is a dollar
amount) to multiply by b3 (time amount) the answer is wrong. Example, 1:00
(hour) * $10.00. Exel keeps telling me the answer is $0.42, insted of
$10.00. Help!