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Default Need Help in Creating Excel Formula

I need step by step instructions on how to build a formula. Example:
Column "C", row 3.1 has $100 in it and I want a tax amount of .05 percent of
that $100 (which would be $5) to appear in Column "D" of that same line.
I've gone bonkers in trying to get this done. ANY NICE PERSON OUT THERE
WILLING TO HELP?

 
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