CFI-Excel-eBook

The Corporate Finance Institute Excel
In order to fix the above error, we can use the IFERROR Function. The new
formula would be:
{=SUM(IFERROR($B$2:$B$5/$C$2:$C$5,0))}
What the formula did here was that it divided the value in column B by a value
in column C in each row (50000/10, 50000/100, 50000/20 and 0/0) and return
an array of results {5000; 500; 2500; & #DIV/0!}. Thus, IFERROR function
identified all #DIV/0! errors and replaced them with zeros. The SUM function
then adds up the values in the resulting array {5,000; 500; 2,500; 0} and gives
the final result (8000).
Things to remember about the IFERROR Function
1. The IFERROR Function was introduced in Excel 2007 and is available in all
subsequent Excel versions.
2. If the value argument is a blank cell, it is treated as an empty string (”’) and
not an error.
3. If value is an array formula, IFERROR returns an array of results for each
cell in the range specified in value.
Click here to download the sample Excel file.
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