distinguish between formulas and function
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a formula is any calculation in Excel, but a function is a pre-defined calculation. =MAX(A1:B20) is a formula containing a function. Mastering the use of functions in formulas is a key skill in learning financial modelling.
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6
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So in summary, a formula is any calculation in Excel, but a function is a pre-defined calculation.
For example:
=A1/A2 is just a formula
=MAX(A1:B20) is a formula containing a function.
hope this helps you stay blessed ❣️
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