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Calculate Billing for Different Services?

I'm working on calculating an amount to be billed to a client, which is different based on the service:


CASE(Payment_Terms__c, "Hourly Rate",(Billable_Hours__c*Amount), "50% on Contract, 50% on Completion", (0.5*Amount), "Monthly Reoccurring Rate", Amount,0)


Picklist: Payment_Terms__c

Picklist Options: Hourly Rate, 50% on Contract, 50% on Completion, Monthly Reoccurring Rate


Each is calculated differently:

Hourly Rate = Billable_Hours__c multiplied by Amount

50% on Contract, 50% on Completion = Amount multiplied by 0.5

Monthly Reoccurring Rate = Amount 


Any thoughts?  Thanks!