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Default Formulas do not work in Excel 2007

I am use to typing a formula and having it show the results. Now the cell
just shows the formula.

I have clicked "show formula" and this does not help. Also when I copy
(what I think is) a formula it does not update the cells. In other words it
treats copy as text.

I entered these formulas through the function library and on the popup
window the result is shown.

UGH - I am need to do something simple and this is taking all day.
 
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