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Excel might also show the #NUM! error when: 1  A formula uses a function that iterates, such as IRR or RATE, and it canât find a result. To fix this, change the number of times Excel iterates formulas: Click File > Options. 2  A formula results in a number thatâs too large or too small to be shown in Excel.
The second INDEX function example in cell E9 uses the named range fQTR for the array. The formula is =INDEX(fQTR,MONTH(E8),2). The row_number argument uses the MONTH function to pull out the number 11 from the Date in cell E8. The column_num argument is 2 and entered directly in the formula. The INDEX function returns 2 for the Fiscal Quarter, because the 11th month of the Date corresponds to the 11th row and the value in the 2nd column is 2.