To calculate the payment based on the worked hours & rate, we have to multiply each time value by its matching numerical rate.
Let us take an example:
In this example, we will show you how to calculate the number of working hours say 22 hours, & do a simple multiplication with hourly rate to get the payment.
In this tip, Hours x Rate will be multiplied by 24 because Excel treats time formats quite differently than regular numbers.
One day = one whole time unit, therefore one hour = 1/24th of a whole unit, and we must multiply hours by 24 to achieve whole units of time.
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