In this example the fourth argument has been set to TRUE explicitly for clarity. This in-depth one-day Excel Pivot training course introduces ways to create and work with Pivot Tables to look, organize and summarizes, your data in a.
The default behavior is approximate match. VLOOKUP has two matching modes: exact match and approximate match, controlled by an optional fourth argument called "range_lookup". Because we are using using VLOOKUP in approximate match mode, lookup values must be sorted in ascending order. With this configuration, VLOOKUP scans the lookup values until it finds a value higher than the value in G4, then VLOOKUP "drops back" to the previous row and returns the tax rate in that row.