Breaks an equation that runs off across the sheet into several lines, at the operators that separate its terms.
A spreadsheet formula can be very long, and a long equation drawn as a single line runs out
across columns that have nothing to do with it. Wrap breaks it at the
+, − and × that join its terms, so it
occupies a block rather than a strip.
The break is placed before the operator, so a continued line opens with the sign that continues it — which is how the same equation would be broken by hand.
Each setting is a number of characters a line may reach before the next operator becomes a place to break it.
The count is of what you see, not of what is written. LaTeX markup does not push a line over:
a fraction costs whatever is in its numerator and denominator, and nothing for the
\frac itself. A symbol does count — \alpha is one character,
because it draws one letter.
With Equate switched on, a wrapped equation is set out so its name and its lines sit in separate columns:
x = a + b + c + d + e
+ f + g + h + i
+ j + k + l
Without a name in front of it there is nothing to align to, so the lines are simply broken.
A break is only taken where it can be read as one. Nothing is broken inside a fraction, inside brackets, or inside a matrix: those are single objects, and a line ending halfway through one would be wrong rather than merely long. A matrix that sits inside a longer formula is wrapped around, never within.
Wrapping changes the equation itself rather than how it is drawn, so changing this setting redraws the equations on the sheet.