Microsoft Office Tutorials and References
In Depth Information
Figure 3-17: Technically, the name InterestRate is a named formula, not a named cell.
When Excel evaluates this formula, it first evaluates the formula named InterestRate (which exists only in
memory, not in a cell). It then multiplies the result of this named formula by 1.05 and displays the result. This
cell formula, of course, is equivalent to the following formula, which uses the actual cell reference instead of
the name:
At this point, you may be wondering whether it's possible to create a named formula that doesn't contain any
cell references. The answer comes in the next section.
Naming constants
Consider a worksheet that generates an invoice and calculates sales tax for a sales amount. The common ap-
proach is to insert the sales tax rate value into a cell and then use this cell reference in your formulas. To make
things easier, you probably would name this cell something like SalesTax.
You can handle this situation another way. Figure 3-18 demonstrates the following steps:
1. Choose Formulas Defined Names Define Name to bring up the New Name dialog box.
2. Type the name (in this case, SalesTax ) into the Name field.
3. Click in the Refers To field, delete its contents, and replace it with a simple formula, such as =.075 .
4. Click OK to close the New Name dialog box.
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