Question: 1. In this example of a nested IF Statement, breakout and explain each part of formula to determine how the commission rates will be calculated:IF(B2>=150,

1. In this example of a nested IF Statement, breakout and explain each part of formula to determine how the commission rates will be calculated:IF(B2>=150, 10%, IF(B2>=101, 7%, IF(B2>=51, 5%, IF(B2>=1, 3%,"")))).

2.Why would you use a Vlookup function as oppose to a Nested If statement?

3.Give a real life scenario in which you may have used or can implement the Nested If or Vlookup functions in your daily or weekly tasks.

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