Question

Long answer type questions:

Explain the difference between a Formula and a Function with the help of an example.

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Answer 1

Answer:

ur answer is below

Explanation:

So in summary, 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. Happy formula-writing!

Answer 2

A Formula is an equation designed by a user in Excel, while a Function is a predefined calculation in the spreadsheet application. This guide will walk you through Formula vs Function in Excel so you know exactly what the similarities and differences are.

Excel enables users to perform simple calculations such as finding totals for a row or column of numbers. Formulas and functions can be useful in more complex situations, including calculating mortgage payments, solving engineering or math problems, and creating financial models.

Examples of a Formula

When a user types an equals sign in a cell, they are starting to create a formula.

= 4+3

= A3+C9

= B7+B8-(4*2)+1

Examples of a Function

When a user types an equals sign followed by a predefined set of letters (or clicks on the Fx button in the formula bar), a function begins to be implemented.

= SUM(A3:A27)

= AVERAGE(F4:F8)

= NPV(0.12,A5:G5)