Pro rata calculations are also used to determine the amount of interest that will be earned on an investment. The pro rata amount earned for a shorter period is calculated by dividing the total amount of interest by the number of months in a year and multiplying by the number of months in...
Pro-rata: This term describes a proportionate allocation. Used for dividend payments, insurance premiums, and interest rates, pro rata calculations determine the fractional payment from the whole. For example, in dividend payments each investor is paid according to their number of shares and based ...
How to Prorate a Number Let’s look at an example. Susan is supposed to earn $30 per hour, paid to the nearest minute. She works 47 minutes. What is her proratedcompensation? To calculate the answer, follow the steps below: Take her hourly rate of $30 and divide it by 60 to find...
In cell F5, in the Amount column, insert the following formula: =E5*$C$13 Where, E5 = the fraction amount of the working days C13 = The annual salary Press ENTER to get the pro rata share for that employee. AutoFill the rest to finish the pro rata share calculation. Example 2 –...
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