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A named range gives a cell or range a readable name, so =B2*(1+TaxRate) replaces =B2*(1+$F$2). Names are absolute automatically, so formulas that use them fill down without $. To create one, select the cells, click the Name Box (left of the formula bar), type a name and press Enter. Names cannot contain spaces or look like a cell address (TAX1 is fine, A1 is not).
Syntax
=SUM(Sales) · =B2*(1+TaxRate)
Example: Select F2, type TaxRate in the Name Box and press Enter. Now =B2*(1+TaxRate) works in any row.
Common mistakes
Read the lesson, then try it yourself in a live spreadsheet.