Performs sprintf-like conversion, ie. puts the values in a template.
DO NOT use it instead of built-in conversions in simple cases such as
'Cost: %.2f' as it would introduce unneccessary latency oposed to
'Cost: ' + cost.toFixed(2).
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Chooses which conversion function to call based on type conversion
specifier.
Arguments:
Returns: string
Formatted parameter.
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