You still have the arguments wrong.
The FIRST argument of Hyperlink is the filename you want to link to.
The second argument is what appears in the cell.

=HYPERLINK("C:\Temp\MyFile.doc", "My File") will show My File in the
cell, in hyperlink format, and will link to the file specified when you
click the cell.

Bill Manville
MVP - Microsoft Excel, Oxford, England
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