Tagged: costs

The value of Time - Time is Money 0

The Value of Time

A British university professor has proved the old adage “time is money” in a 2002 article by CNN by creating the following mathematical formula: V=(W((100-t)/100))/C V  = value of an hour W = person’s hourly wage t = tax rate C = local cost of living Ian Walker, economic professor of central England’s Warwick University, calculated this formula to show people that time actually IS money.  This formula shows that day-to-day activities can be calculated monetarily to help you understand the value and costs of time.  Consider the following. Brushing your teeth for three minutes = costs 45 cents Washing...

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