A formula is something that you might see on one side of an equation such as the examples above. A function, on the other hand, can be seen as a shortcut for a formula. That works fine. But say we had a list of all fifty states. That would be one long formula.
Arguments are the values upon which functions act.
If there is a row or column of values, it automatically includes them into its function as arguments. All you have to do is tell Lotus that you accept the values. Click on the summate button on the tool bar. Press the Enter key. Either press the F1 key for help in identifying the functions and what it means.