Learn to calculate times (meaning length of time) along with currency by multiplying formulas by factors of 24 and/or 60.
- [Instructor] When you work with time…and currency together, you'll sometimes have…to make some adjustments.…As we look at this worksheet called time currency,…in column A we've got various times worked,…and someone is being paid,…for example, $10 an hour, worked six hours.…We know the answer's going to be $60,…so why not just multiply the two?…And we'll do that.…But I think if you work with times,…you know it's not always going to be that simple.…So A2 times B2 equals 2.50?…That's not right.…
So what do we need to do?…When you're working with times…and currency together at different points…in the process you will need…to either multiply or in some cases divide by 24…and sometimes even 60.…So, we know that's not correct.…We know it should be 60…and maybe a little bit of math in your head…or you get out the calculator,…what are we missing here?…Do we need to multiply this by 24?…There are 24 hours in the day,…and those hours worked represent…in this case a fourth of the day.…So there we have a correct answer.…
A lot of times you'll forget exactly what to do…
- How Excel records and stores dates
- Using standard date/time entries and acceptable alternatives
- Formatting dates and times
- Creating standard date/time formats
- Working with dates and times in functions
- Calculating with dates and times
- Using dates/times with Excel commands
Skill Level Intermediate
1. Understanding the Excel Date/Time System
2. Creating Date/Time Entries
3. Formatting Dates and Times
4. Working with Dates and Times in Functions
5. Calculating with Dates and Times
6. Using Dates/Times with Excel Commands
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