Using Office 2003

Since it's much easier and more practical to use Excel to perform
calculations as opposed to using Word, I was wondering how to go about doing
something. I want to create a small spreadsheet in Excel - including
formulas. Then link the range of cells from Excel to a Word document. How
do I go about doing this? I recall that it is possible; I just do not know
how to do it. Also, is this the best route to take?

ANY help would be greatly appreciated, Karen