Enter the value of the contract ($) and the number of hours needed for the contract (hrs) into the Contract Rate Calculator. The calculator will evaluate the Contract Rate.

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## Contract Rate Formula

The following two example problems outline the steps and information needed to calculate the Contract Rate.

CONR = VC / T

- Where CONR is the Contract Rate ($/hr)
- VC is the value of the contract ($)
- T is the number of hours needed for the contract (hrs)

To calculate the contract rate, divide the value of the contract by the hours needed for the contract.

## How to Calculate Contract Rate?

The following example problems outline how to calculate Contract Rate.

Example Problem #1:

- First, determine the value of the contract ($).
- The value of the contract ($) is given as: 5,000.

- Next, determine the number of hours needed for the contract (hrs).
- The number of hours needed for the contract (hrs) is provided as: 10.

- Finally, calculate the Contract Rate using the equation above:

CONR = VC / T

The values provided above are inserted into the equation below and computed.

CONR = 5000 / 10 = 500 ($/hr)

Example Problem #2:** **

For this problem, the variables required are provided below:

value of the contract ($) = 6,000

number of hours needed for the contract (hrs) = 20

Test your knowledge using the equation and check your answer with the calculator..

CONR = VC / T** = ?**