trying to calculate months with hourly rates

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Im trying to create a calculation field based on two field. First field would be Months and second field will be hourly rates. Is there any way to write formula which converts months to days – hours? I tried all I know but I keep on getting formula errors. Im stuck on writing formula for this.. any help will be appreciated.

 

Exanple:

FIELD 1 : 5 (Months)

FIELD 2: $ 15.50 (Per Hour)

FIELD 3: (ANSWER WOULD BE DISPLAYED) (FORMAULA FIELD)

 

Answer to the above example would be $13433.35

 

Thanks in advance

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Y

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Posted 3 years ago

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Can you show your math for how you calculated the $13,433.35?  Also some months have 28 days, or 29 or 30 or 31 days.  How big is a month?  Which months are in the span of months?
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for $13433.35 i used payroll cycle.. but in this case i am trying to use 30 day for all months(regardless of actual days in month). i am just trying to get an estimated cost for employee if i hire them for certain months.
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Sorry, and how many hours do they work per day and do they work all 30 days in a month?
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it will be 5 days a week, 40 hours week, and 8 hours a day.

Thanks,
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How many work days are there in a month? even in a standard 30 day month, there can be different number of non-weekend days.
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you are right there are different working day each month but the average is about 22 working days. i think 22 days per month would be good.

Thanks,
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So the formula  for [Field 3] would be



[Field 1] * 22 * 8 * [Field 2]



[Field 1] would be a numeric field type.