Professor proves that Time is Money
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Do you know that while brushing your teeth for 3 minutes, it will use up 45 cents in “lost†time and washing a car by hands has a hidden cost of $4.50!!
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I heard that Time is money before but I never imagine that there is a formula to let you calculate what it will cost you every minute. Economics professor Ian Walker just invents a formula that helps us calculate what is the cost of our “1 hourâ€Â.ÂÂ
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The Formula is : V=(W((100-t)/100)/C
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V is the value of an hour, W is a person’s hourly wage and t is the tax rate and C is local cost of living.
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This formula was announced in year 2002 (Sorry for the late info, hehe). However this is a nice invention as now we can calculate our cost for every action. Sound like our life becomes a business where every action involved some cost, hehe.
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Source : CNN
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