Add effects to just a part of a track?

I'd just like to add an effect to a part of a wav file, like a delay on the last word in a sentence. How do I do it? All I can figure out is how to add an effect to the whole file. Thanks for the help!

Split the word away and do this... ... and add your delay.

That is soooo cool! I have been drawing envelopes to do this.(which also works great) Bardo

That works, especially the part about splitting the track. Thanks a ton, it would have taken me forever (if not longer) to figure out how to do that myself!