mulitiplying hours X dollars

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I would like to know how to multiply an hour by a dollar amount in excel? This would be to calculate an amount when you know the number of hour and the hourly rate.

Example:

cell contains time amount, i.e. 3:00
how do you mulitiple this cell by the rate per hour, i.e. 18 and get a result of 54?

Thanks
Don Brohm

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Don,

you probablky have the right answer but the wrong formatting.

Format your target cell as currency.

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Thanks for reply, formating the cell with the results as currency did not provide correct answer for me, but, the answer from LegareColeman worked!

If the time is in A1, and the rate is in A2, then the following formula should give you what you want:
=A1*24*A2

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Don: Date/Time in Excell are kept as the number of days since 12am 1/1/1900. Therefore, time is kept at the fractional part of one day (24 hours. Twelve hours = .5, six hours = .25, 3 hours = .125, etc. Therefore, you need to multiply the time by 24 to get the number of hours. If the time is in A1, and the rate is in A2, then the following formula should give you what you want:

=A1*24*A2

Make sure that the cell containing the time does not also contain a date. If it does, then you will need to use one of several methods to extract just the time that you want.

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Thanks much, your formual worked!

Don

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