Declaring variables in Excel Cells

[Clippy]

Is it possible to declare variables in Excel cells and use them as parameters for formulas in other cells?

For example I would declare `var1=10` in one of the cells.
In another cell I would use `var1` for calculation like: `=var1*20`.

[Clippy]

You can name cells. This is done by clicking the Name Box (that thing next to the formula bar which says "A1" for example) and typing a name, such as, "myvar". Now you can use that name instead of the cell reference:

```
= myvar*25

```