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Understanding Functions

Not all calculations are simple. Fortunately, with Excel's many functions, the program can handle just about anything you might throw its way.

Functions are built-in formulas that perform complex math for you. You enter the function name and any arguments (extra information) the function requires, and Excel performs the calculations. You saw the SUM function in action in Chapter 10, "Constructing Excel Formulas," and it's a simple, straightforward function that doesn't require any further elaboration. PMT (figures payments on a fixed-rate loan) and VLOOKUP (looks up a value in a table) are examples of common but more complex functions that I show you how to use in this chapter.


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