It is often called a formula.
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an equation that expresses a relationship between two or more quantities
A math sentence stating two quantities or expressions are equal is called an equation. Equations typically contain an equal sign (=) to show the relationship between the two sides of the equation. Solving an equation involves finding the value of the variable that makes the equation true.
An equation with more than one variable is called a multivariate equation.
Multivariable equation
A function is an equation (a relation) which has only one y-value for every x-value. If a single x-value has more than one y-value, the equation is no longer called a function.