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LET
The LET function allows you to define named variables, assign the variables values/calculated results and reference them in an expression.
LET(name, value, name…, value…, calculation-or-name)
name: The name to give to the first variable to define.
value: The value assigned to the variable.
name…:Optionally include another variable to define.
value…: The value assigned to any other optional variables.
calculation-or-name: A name to give another variable to define or a calculation that uses names in the LET function. Must be the last argument.
Notes
At least one name/value pair must be defined, but LET supports up to 126 pairs.
LET allows you to define variable names that are represented as formula tokens. After they are defined, they can appear in type-ahead and be referenced elsewhere in the function.
Examples |
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Suppose an expense charges a £10 daily rate and you want to calculate the cost of that expense over a week. In the example below, Rate is the variable name, 10 is the value that’s assigned to that variable and Rate*7 calculates the weekly cost. =LET(Rate,10,Rate*7) returns 70. To separately calculate and compare the cost of that expense over a typical week, month and year, you can assign a variable to each period of time. In the examples below, the variable x and a value of 7 represent a week, the variable y and a value of 30 represent a month, and the variable z and a value of 365 represent a year. =LET(Rate, 10, x, 7, y, 30, z, 365, Rate*x) returns 70, the cost for the week. =LET(Rate, 10, x, 7, y, 30, z, 365, Rate*y) returns 300, the cost for the month. =LET(Rate, 10, x, 7, y, 30, z, 365, Rate*z) returns 3650, the cost for the year. To calculate the cost of that daily expense over a specific time frame — for example 2 years, 2 months and 2 weeks — the expression would read: =LET(Rate, 10, x, 7, y, 30, z, 365, Rate*2*x + Rate*2*y + Rate*2*z). |