Calculate time entry with different hourly rate

Hi,

How do I generate a formula that will calculate a time entry for individuals with different hourly rates.

For example in this sheet,

ABC's rate is 100, DEF's rate is 200,a nd GHI's rate is 300

Screenshot 2021-05-13 120606.png

How do I generate a value based on the specific rate of an individual? Like if I enter ABC in B2 and the time 0.2, it will calculate the amount in E2?

Is there an If function that I can use that will pull ABC's rate somewhere if I just enter ABC in B2, instead of entering 100*B2 for every line. Because it will be very time consuming if I enter specific rates per individual per line.

Thank you