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Besides allowing you to define a name that refers to a cell or cell range, Excel allows you to define names that refer to formulas or constant values. For instance, suppose you have a constant you will be using in your worksheet quite a bit--the standard commission rate for staff sales people, which is 8.5%. To define a name for this constant, follow these steps:
Figure 1. The Define Name dialog box.
The constant is now available for use in your worksheet. You can then use it in formulas just as you would any other defined name.
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