The SUBSTITUTE function substitutes new_text for old_text in a text string. Use SUBSTITUTE when you want to replace specific text in a text string; use REPLACE when you want to replace any text that occurs in a specific location in a text string.

SUBSTITUTE takes 3 required arguments and 1 optional argument:

Syntax: SUBSTITUTE(text, old_text, new_text, [instance_num])

#1)
Using the SUBSTITUTE function:
#2)
The arguments for the SUBSTITUTE function are:
Argument Required? Description
text Required The text or the reference to a cell containing text for which you want to substitute characters.
old_text Required The text you want to replace.
new_text Required The text you want to replace old_text with.
instance_num Optional Specifies which occurrence of old_text you want to replace with new_text. If you specify instance_num, only that instance of old_text is replaced. Otherwise, every occurrence of old_text in text is changed to new_text.

Summary

The SUBSTITUTE function substitutes new_text for old_text in a text string.
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