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Dynamic parameters always begin with a $ sign, followed by a letter or letters. When you use them in an equation, they are automatically replaced by a number or string when the equation is rendered.
For example, you might type
If you have previously defined the parameters $p, $q and $r, this might be rendered as
In FX Equation, this might look like this
FX Equation has replaced the three parameters with the three numbers. So far, so good, but this is not very "dynamic". Things begin to get dynamic when we start using the different types of parameters.