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?
Syntaxt and Arguments
|Time: the time that you want to convert to money.|
|Rate: pay rate every hour.|
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:
Press Enter key and drag fill handle over cell D7.
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.
You can calculate the total reward by working minutes or seconds if it is paid by minute or second.
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