is there an app for the iPad equal to a word or excel

Yes, Pages and Numbers both by Apple, You can also take a look at Documents to Go, and QuickOffice.

Have a look at the following (in my order of preference)

http://itunes.apple.com/sg/app/quickoffice-pro-hd-edit-office/id376212724?mt=8&l s=1

http://itunes.apple.com/sg/app/documents-to-go-premium-office/id317107309?mt=8&l s=1

http://itunes.apple.com/sg/app/office2-hd/id364361728?mt=8&ls=1

You can use the iPad SkyDrive web based access via Safari and use the web version of Microsoft Word, Excel, etc.

More information here...

http://windows.microsoft.com/en-us/skydrive/work-together-office#1TC=t1

FWIW here is an example of the web based free MSFT Word app on SkyDrive...

http://sdrv.ms/16dJgKL

You can set permissions so only you can see and modify the document, others can view the document or others can see and modify the document.

The downside to skydrive - or any cloud based programs - you must have internet access to use them. Which can be an issue.

I have and use Documents to go and find that it works quite well. The part that I really like about it is that it has a separate desktop sync program so you can keep documents in sync without going through iTunes.

It shouyld be noted, however, that another app or apps will be required to manage the files from the iPad. Safari is unable to download the files for local use. (File Manager intergrates with SkyDrive and there is a Microsoft app for Skydrive).

I'm not sure about your situations where you'll use word/excel on your ipad, but you might want to take a look at Splashtop 2 - Desktop Remote in the itunes app store. It will work with your mac or pc desktop/laptop.

There are two versions and one depends on cellular (or mobile hotspot device) for internet service (to connect to home computet) and an anywhere access connection (and you're charged for usage with your cell phone provider.)

Please be sure to read the users' reviews and if you google it, you'll get many tech pro reviews.

Hope this helps.

Oh I agree about the cloud and internet access...

With that said for the casual user, like I am, the web based Word works very well. If on the other hand your using your iPad at work or school or similar then that certainly could be an issue.

Its too bad the OP did not specify her/his exact usage requirements...

Pages is one option for a iPad-Based document editor, and Numbers is one option for an Excel-like app on ipad. There are many more, but both of these apps are made by Apple, and are very well designed for the simple user.