Convert Minutes to Decimal, then Decimal to Money.

[tvschumann]

I am trying to convert minutes to a decimal, then take that decimal and convert it to money. If I take 00:56 and convert it to a decimal with the formula:

=(HOUR(A1)+INT((A1))*24+MINUTE(A1)/60)

I get 0.93. Then I take that Cell and multiply by the pay rate of $21.00 with the formula of : =B2*21 I get $16.60!!

0.93 x 21 = 19.53

I seems that only every third minute is correct, the others are off by .07 cents.

Any help with this problem would be greatly appreciated.

[Barrie Davidson]

On 2002-04-17 06:12, tvschumann wrote:
I am trying to convert minutes to a decimal, then take that decimal and convert it to money. If I take 00:56 and convert it to a decimal with the formula:

=(HOUR(A1)+INT((A1))*24+MINUTE(A1)/60)

I get 0.93. Then I take that Cell and multiply by the pay rate of $21.00 with the formula of : =B2*21 I get $16.60!!

0.93 x 21 = 19.53

I seems that only every third minute is correct, the others are off by .07 cents.

Any help with this problem would be greatly appreciated.

Try this formula instead.

=A1*24*21

and if you want it rounded to 2 decimal places use:

=ROUND(A1*24*21,2)

Regards,

[tvschumann]

That is a much easier formula, but still only every third minute is correct.

[Dave Patton]

0:30 10.50
0:56 19.60
0:57 19.95
0:58 20.30
0:59 20.65
1:00 21.00

The formula =A1*24*21 gives the correct result.

0:56 56 minutes is .9333333 not .93



[ This Message was edited by: Dave Patton on 2002-04-17 08:00 ]