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A calculated merge field is typically used when you need to add a new field to a document that is based on a calculation of existing fields. For example if you have designed a workflow for a property settlement you may need to calculate the rates apportionment on settlement day by dividing the amount already paid by how many days the new buyer will benefit from those rates after settlement day.  This amount usually gets added to the final amount payable at settlement.  This is easily achieved with a calculated merge field.

For information on how to set these up you can either see the below video or the text beneath the video.

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Creating a new calculated merge field