Naive approach to finding table size in SQL Developer?

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Given a table containing n rows and k bytes per row, can I estimate the size of a table in GB by finding (n x k)/(1024)^3?

For example, I have a table with 21,097,698 rows and the following columns:

ALWAMT  NUMBER(11,2)
ALWUNT  NUMBER
CLAIMNO VARCHAR2(22 BYTE)
DIAGN1  VARCHAR2(8 BYTE)
DIAGN2  VARCHAR2(8 BYTE)
DIAGN3  VARCHAR2(8 BYTE)
DIAGN4  VARCHAR2(8 BYTE)
MEMAGE  NUMBER(20,0)
MEMBNO  VARCHAR2(15 BYTE)
PARENT  VARCHAR2(4 BYTE)
SEXCOD  VARCHAR2(1 BYTE)
SVCDAT  NUMBER(20,0)
NAMCOD  VARCHAR2(50 BYTE)
NAMKEY  VARCHAR2(30 BYTE)
DIAGNOSISCAT    VARCHAR2(80 BYTE)
LOC_DESC    VARCHAR2(40 BYTE)
SVCCOD_DESC VARCHAR2(50 BYTE)
ALWAMT_CATG VARCHAR2(20 BYTE)

The table does not contain an index nor is it partitioned.

The above formula yields a table size of 7.78 GB. Is this an accurate estimate (knowing it's an estimate of the maximum size since most fields will only be partially filled or may be null)?

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