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Default How to set up a cost estimate spreadsheet?

I want to set up a spreadsheet that calculates a cost estimate based on hour
many hours are inputted against each person (each person having a different
hourly rate)
eg.
Person 1 $100
Person 2 $200
Person 3 $300

Is there anyway I can set it up so that so that if I enter '12' (for 12
hours) next to Person 1, it automatically calculates that person's total as
$1,200 and so on?

Thanks
 
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