An object moves in a circular path with constant speed. Is the object's velocity constant? Is its acceleration constant? Please explain.

Question

From what I've learned in my 8th grade science class, when velocity changes is when the direction or speed changes. So if it is moving in a circular path, it is constantly changing direction, so I imagine that the velocity is not constant. As for acceleration, the formula is acceleration=mass*velocity (correct me plz if I'm wrong), and the velocity is constantly changing, so there is no definite "velocity" you can put in the problem. So I think the acceleration would not be constant, either. I am not sure if this is right, it's been awhile since I've done acceleration and velocity problems. Hope this kinda helps! :-)