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Default Converting time formats into actual time(minutes)

Hi there, I was wondering if anyone has any suggestions on how to convert a
time format (e.g. hh:mm:ss - 00:16:50) into time in actual minutes (which in
this example would be a total of 16.8 minutes). I have an incredible amount
of data to convert, so any suggestions would be greatly appreciated!
Many thanks!
 
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