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This video shows how to use Excel functions to remove a designated number of characters from the right of a cell. The process involves using the VALUE function to get an integer output, followed by the LEFT function with the LEN function to specify the number of characters to remove. In this case, we remove 4 characters "CAD" to get a value of 28.31. By filling down the formula to adjacent cells in column I, we can successfully derive the correct output values.