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LET names the pieces of a calculation inside one formula. Define a name and its value, as many pairs as you like, then a final calculation that uses them. The formula reads like a sentence, and a repeated piece (like a lookup) is written once. Names only exist inside that formula.
Syntax
LET(name1, value1, [name2, value2], …, calculation)
Example: =LET(total,SUM(C2:C10),bonus,total*5%,total+bonus)
Common mistakes
Read the lesson, then try it yourself in a live spreadsheet.