Convert Minutes to Decimal, then Decimal to Money.
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Thread: Convert Minutes to Decimal, then Decimal to Money.

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    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.

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    MrExcel MVP Barrie Davidson's Avatar
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    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,
    Barrie Davidson

    "You're only given a little spark of madness. You mustn't lose it." - Robin Williams

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

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    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 ]

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