The Great Baptism Formula Debate: Matthew 28:19 or Acts 2:38

Here is an image of an Elder baptizing in a church pool:

Sola Scriptura! We know that Jesus commanded His church to practice baptism:

Therefore, go and make disciples of all the nations, baptizing them in the name of the Father and the Son and the Holy Spirit (NLT)

Go, then, to all peoples everywhere and make them my disciples: baptize them in the name of the Father, the Son, and the Holy Spirit. (GNT)

If you listen to ministers, you will hear something like this:

I Baptize you in the name of the Father, and the Son, and the Holy Spirit….I baptize you in Jesus name…I baptize you in Christ’s name

Is this a formula? And if it is a formula, what if these exact words are not used?