Microsoft Office Tutorials and References

In Depth Information

**Understanding the Secret about Names**

When Excel evaluates this formula, it first evaluates the formula named InterestRate (which exists

only in memory, not in a cell). Excel 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 rather than the name:

=Sheet1!$B$4*1.05