what is the difference between a formula and a function in MS Excel?
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formulas are the certain symbols which we used to carry out some functions but functions are predefined formulas
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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.
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