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In this Excel tips video, the presenter, So Myth Pencil, demonstrates how to calculate age in Excel using the DATEDIF function. By entering the date of birth and the current date (obtained using the TODAY function), users can calculate the age in years, months, and days. Despite not appearing in Excel's function list, DATEDIF is a legacy function maintained for compatibility with Lotus 1-2-3. With three arguments - start date, end date, and a string indicating the desired output (years, months, or days) - users can easily determine age in Excel.