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A formula (also
known as an equation) is something that the user defines, and can use/refer to
4down various functions in it. A formula starts with an = sign, such as =(D1+D2)/A$3.
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They are similar in that both return a result based on the calculations that each
performs. The difference is that a function is a built-in calculation, while a formula
is a user-defined calculation. A formula could just use a single function.
For example, if you enter =AVERAGE(A1:A56), that is a formula, using the
AVERAGE function. If you enter =SUM(G4+A5) - 25 * MIN(B3:B6), that is a formula
which uses both the SUM function and the MIN function, as well as standard
mathematical operators