The first function in the formula and each of its arguments are displayed in the palette. You can edit the first function or edit another function in the same formula by clicking in the formula bar anywhere within the function. Using Functions to Calculate Values Functions are predefined formulas that perform calculations by using specific values, called arguments, in a particular order, called the syntax. For example, the SUM function adds values or ranges of cells, and the PMT function calculates the loan payments based on an interest rate, the length of the loan, and the principal amount of the loan. The argument you designate must produce a valid value for that argument.
Arguments can also be constants, formulas, or other functions.
The syntax of a function begins with the function name, followed by an opening parenthesis, the arguments for the function separated by commas, and a closing parenthesis. As you create a formula that contains a function, the Formula Palette will assist you . When you create a formula that contains a function, the Formula Palette helps you enter worksheet functions. As you enter a function into the formula, the Formula Palette displays the name of the function, each of its arguments, a description of the function and each argument, the current result of the function, and the current result of the entire formula. An alternative way to start the Formula Palette, from the Insert Menu, choose Function.