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Default Excel 2007 vs 2003

I installed Excel 2007 on my home computer, but at work we use Excel 2003.
I believe it is 2003, since I can't confirm from home. Does anyone know if
I can work with my Excel 2003 files at home in Excel 2007 and continue to
save them as Excel 2003 files. I was hoping they wouldn't have any effect
on these files when I take them back to work and save them. Again I think
the version at work is 2003 or maybe 2005, if there was a 2005 version.
 
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