Practical example
- Input
- Calculation: Find hourly pay
- Gross pay for the period: 2400
- Hours in the period: 160
- Additional minutes: 0
- Currency: USD
- Result
- $15.00
Calculation steps
Substitute the example values into the formula.
Hourly rate = gross pay / (hours + minutes/60). Gross pay = hourly rate × (hours + minutes/60).