Excel Formula: Convert Time to Money

Sometimes, you may need to convert time to money. For example, working one hour gets 10 dollars reward, two hours 20 dollars, how to calculate the total rewards based on working hours?

Generic formula:

 (time*24)*rate

Syntaxt and Arguments

 Time: the time that you want to convert to money. Rate: pay rate every hour.

Return Value

It returns a numeric value.

How this formula work

In column B3:B7 are working hours, and in column C3:C7 are the different rates, please use below formula in cell D3:

 =(B3*24)*C3

Press Enter key and drag fill handle over cell D7.

Explanation

In Excel, time is stored as number, 24 hours is 1, in other words, 1 hour is equal to 1/24. The working hour multiplies by 24 to get the number of hours, then multiply by the rate to get the real reward.

Remark

You can calculate the total reward by working minutes or seconds if it is paid by minute or second.

Minute

 (minute*1440)*rate

Second

 (second*86400)*rate

The Best Office Productivity Tools

Kutools for Excel - Helps You To Stand Out From Crowd

 🤖 Kutools AI Aide: Revolutionize data analysis based on: Intelligent Execution   |  Generate Code  |  Create Custom Formulas  |  Analyze Data and Generate Charts  |  Invoke Kutools Functions… Popular Features: Find, Highlight or Identify Duplicates  |  Delete Blank Rows  |  Combine Columns or Cells without Losing Data  |  Round without Formula ... Super VLookup: Multiple Criteria  |  Multiple Value  |  Across Multi-Sheets  |  Fuzzy Lookup... Adv. Drop-down List: Easy Drop Down List  |  Dependent Drop Down List  |  Multi-select Drop Down List... Column Manager: Add a Specific Number of Columns  |  Move Columns  |  Toggle Visibility Status of Hidden Columns  |  Compare Columns to Select Same & Different Cells ... Featured Features: Grid Focus  |  Design View  |  Big Formula Bar  |  Workbook & Sheet Manager | Resource Library (Auto Text)  |  Date Picker  |  Combine Worksheets  |  Encrypt/Decrypt Cells  |  Send Emails by List  |  Super Filter  |  Special Filter (filter bold/italic/strikethrough...) ... Top 15 Toolsets:  12 Text Tools (Add Text, Remove Characters ...)  |  50+ Chart Types (Gantt Chart ...)  |  40+ Practical Formulas (Calculate age based on birthday ...)  |  19 Insertion Tools (Insert QR Code, Insert Picture from Path ...)  |  12 Conversion Tools (Numbers to Words, Currency Conversion ...)  |  7 Merge & Split Tools (Advanced Combine Rows, Split Excel Cells ...)  |  ... and more

Kutools for Excel Boasts Over 300 Features, Ensuring That What You Need is Just A Click Away...

Office Tab - Enable Tabbed Reading and Editing in Microsoft Office (include Excel)

• One second to switch between dozens of open documents!
• Reduce hundreds of mouse clicks for you every day, say goodbye to mouse hand.
• Increases your productivity by 50% when viewing and editing multiple documents.
• Brings Efficient Tabs to Office (include Excel), Just Like Chrome, Edge and Firefox.