Final answer:
The panel in InDesign used to create, name, and apply styles to text within a paragraph is the Paragraph Styles panel.
Step-by-step explanation:
The panel in InDesign that can be used to create, name, and apply styles to text within a paragraph is the Paragraph Styles panel.
This panel allows you to define various text styles such as font, size, alignment, spacing, and more. You can create a new style, give it a name, and then apply it to any paragraph in your document.
By using Paragraph Styles, you can easily make consistent formatting changes to multiple paragraphs throughout your document with just a few clicks.