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TEXT() function to format a number/date

After posting a laundry list of what I believe are simple ideas that I thought had already been requested, it was suggested that I post them individually on this idea board. While I think this idea is out there, I am unable to find it. My apologies if this is a repeat:

Function that converts a value to text in a specified number format. We have the ability to set the display formatting for a column and the VALUE() function can transform text into a number, WHY NOT a TEXT() function that converts a number or date into text using a desired number format?

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