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Default User input in cell

Hi,
How do formulate or set up a cell to take the users info that they enter in
that cell and immediately calculate an answer based on their entry and then
show the answer in that exact cell?
eg. a cell is designated as a cost of an item, but what we want to show in
that cell isnt what they enter, but rather 2 X the cost +.99. is there any
way of doing this without having to use another cell?
 
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