What a formatted document that contains placeholder text?

That is basically the description of a template.Note that a template need not contain both of these; it might ONLY have formatting (for example, style definitions, that describe how to format commonly used styles, such as headings, etc.), or it may ONLY contain placeholder texts, to help you quickly write documents you need frequently. Of course, it may also contain both.

A template may also contain additional things, such as macros.