The sentence can be completed as You can use predesigned, formatted files called templates to create new worksheets quickly.
In the context of word processing software, the term template refers to an example document that already has certain features in place; these can be done by hand or by an automated iterative process, such as using a software assistant.
The templates are predesigned and prepared files that allow you to work on a new file without thinking about which format to use.
Templates are available for PowerPoint presentations, Excel spreadsheets, and even for producing a photo, videos, or other creative work. This sort of template exists just to save time.
Hence, the sentence can be completed as You can use predesigned, formatted files called templates to create new worksheets quickly.
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