How do I calculate total pay from [h]:mm times pay rate per hour?

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Guest

Instead of multplying, say, 7.5 (for 7 and 1/2 hours) times an hourly pay
rate of, say, $12.50 to arrive at a total pay of $93.75 - How would I do
the same calculation using 7:30 (for 7 and 1/2 hours in the hh:mm format) to
get the proper result in the total pay cell?
 
Thanks. Sorry I asked this question twice (again in another group). Didn't
know where I was at.
 
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