IPhone, Excel Spreadsheet Cell Formatting Incorrectly

I am opening a "Mortgage Rates" spreadsheet on my iPhone. The rates are showing up as numbers, instead of percentages. For example: a rate on the spreadsheet will be 4.00%. It translates that on the spreadsheet on my iPhone as 0.040%.
I did figure that if I format the cell on my PC as a "Number" instead of a "%", it then duplicated the humbers I'm seeing on the iPhone.
8gig 3GS, iOS 4.0.2
Thanks so much in advance.

Talking to Apple now. Anyone? Anyone at all? ha

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