Discuss the differences between formulas and functions

Discuss the differences between formulas and functions. Pick a function in Excel and discuss how that function is used to calculate results in your worksheets. Review your classmates posts to make sure that you’re not duplicating formulas/functions already discussed. Using the following scenarios, discuss how you would apply the Excel functions or create a formula to solve the scenario. Be specific!

• You wish to calculate the commission on sales. The commission is 6% on all sales that are at least 20% above cost.
• You wish to calculate the total pay for an employee who receives regular time for 40 hours, time and a half for 40-50 hours, and double time for hours over 50.
• You have a list of contracts and due dates for annual maintenance fees. You wish to determine when you have a contract due in the next 45 days and provide a note that warns you that the payment is due.