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Default Is there a function that will evaluate a text string in a cell?

Depending of the data in the spreadsheet, I need to change the formula in a
cell. I'm trying to find an excel function that will evaluate the resulting
text in a cell sort of like the INDIRECT() function does but one that will
work on formulas. I'm trying to use a formula in a cell to create a text
string that I then want evaluated. I.e.; a formula in cell A1 creates a text
string with a formula "=B2*C2". I'm looking for a function that will evaluate
that string. I thought this function was in excel but I can't find it.
 
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