Travel Stipend Calculator
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The Travel Stipend Calculator is useful for determining the reimbursement amount for travel expenses based on the distance traveled and the rate per mile. This can be particularly valuable for companies or organizations providing travel allowances for employees or contractors.
Explanation
- Distance (miles): Enter the total number of miles traveled.
- Rate per Mile ($): Input the rate reimbursed per mile.
- Total Stipend ($): This is the final stipend calculated based on the distance and rate.
Formula
The stipend is calculated using this formula:
\[
\text{Total Stipend} = \text{Distance} \times \text{Rate per Mile}
\]
Example Calculation
If you travel 150 miles and the reimbursement rate is $0.50 per mile, the calculation would be:
\[
150 \times 0.50 = 75 \text{ dollars}
\]
This tool helps streamline financial calculations related to travel reimbursements.