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Default Converting 1-60 minutes to quarter minutes in a formula

I am working on a timesheet that adds our time up, but I would like on the
total sum of each day to change to quarter time. Is that possible? For
example, an employee enters in at 8:30, out at 12:00, in at 12:30, out at
5:30, the total for that is 8 hours 30 minutes, it shows 08:30. I want to
change that total to read 8.5 instead of 30 minutes. Maybe a formula to
change 01 min thru 15 minutes to .25 and so on. Any help? Thanks.
 
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