Microsoft Office Tutorials and References

In Depth Information

**Appendix: Create and Apply Names in Excel 2003 and Mac Excel 2011**

FIGURE 15.6
Formulas with Names

rename the cell

—

as we did before

—

and then apply the name to reflect this renaming.

This is the way to do it:

Create the names by selecting B3:C20 and using Formulas

.

Create from

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Selection.

Select B3:C20 again and under the Formulas ribbon, click on the drop-down

menu next to Define Name and select Apply Names. When you click OK in the

dialog box, your model will automatically apply all these cells

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’

names and show

them in the formulas. See Figure 15.5.

You can see the final results in Figure 15.6. Now the model makes muchmore sense.

Any reader can understand what functions are at play, and what is being analyzed.

We are going to use these two examples in the following chapters.

APPENDIX: CREATE AND APPLY NAMES IN EXCEL 2003

AND MAC EXCEL 2011

Excel 2003

In the example shown in Figure 15.7, you can see the same example of a car loan. The

example is in the Car Loan sheet of the Chapter 15 Excel file. If you read the for-

mulas and functions on the model, it is not clear at all what was meant when the

functions or the formulas were created. The formulas are revealed on the right. I used

CTRL

to show the formulas.

What you really want to see are functions or formulas that convey the infor-

mation to the analyst or to any other potential audience.

To change the names in the cells in column B, apply the following procedure:

þ’

or CTRL

þ
B

Select the two columns with the model A1:B9 on the sheet named Car Loan.

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.

.

Use Insert

Name

Create.

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In the Create Names window, select Left column.

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