One of the benefits of Excel is the ability to use formulas

One of the benefits of Excel is the ability to use formulas and functions. 1. 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 or functions already discussed. Using the following scenarios, discuss how you would apply the Excel function:s or create a formula to solve the scenario. Be specific! o You wish to calculate the commission on sales. The commission is 6% on all sales that are at least 20% above cost. o 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. o 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.

Solution

A formula is statement written by the user to be calculated. Formulas can be as simple or as complex as the user wants. A formula can contain values, references to cells, defined names, and functions.

All formulas must start with the equals sign. =1+2+3

A function is a piece of code designed to calculate specific values and are used inside formulas. Functions to sum values, calculate a trigonometric cosine, and to calculate the current time are built into excel. Additional functions can be defined using Visual Basic.

Functions are typed alongside parenthesizes, where in the arguments if any are listed in between. To use functions in a formula, for example

=COS(3.14) will return the calculated cosine. =NOW() returns the current time. =SUM(1+2+3) *2 will multiply the sum by 2

Formula:

1.

IF(sales>=1.2*cost,6%*sales,0)

2.

Function:

3.

Formula:

2. Function:

IF hours =< 40 then , pay = hours*regularpay

IF hours >40 and <50, then pay=hours*1.5*regularpay

IF hours>50, pay then pay = hours*2*regularpay