Basically your problem is that string variables don't have formatting. Can you give and example of what you are actually trying to do?
As you are new to VBA now is a good time to think about your style and develop good habits. Declare all variables and give your variables meaningful names. You might not adapt my style but I use lng for longs e.g., lngIndex and o for objects e.g., oRng.
Maybe something like this:
Sub ScratchMacro()
'A basic Word macro coded by Greg Maxey
Dim lngIndex As Long
Dim oRng As Range
For lngIndex = 1 To ActiveDocument.Paragraphs.Count
Set oRng = ActiveDocument.Paragraphs(lngIndex).Range
Set oRng = fcnChangePrefix(oRng, "Old Prefix", "New Prefix")
Next lngIndex
lbl_Exit:
Exit Sub
End Sub
Function fcnChangePrefix(oRng As Range, _
strOldPrefix As String, _
strNewPrefix As String) As Range
With oRng.Find
.Text = strOld
.Replacement.Text = strNew
.Execute Replace:=wdReplaceOne
End With
End Function