CHOOSE is a great tool for financial modeling. It allows Excel users to build various scenarios, which can be critical when dealing with an uncertain environment and building a dynamic model. The formula works in the following way. We need to select an index number as the first argument. The “Index” cell is important as it allows us to choose from a set of values. The other arguments of the formula are the actual values from which we will choose based on the index number.

Some other related topics you might be interested to explore are VLOOKUP, INDEX&MATCH, and XLOOKUP.

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