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In this video tutorial, the presenter discusses how to fix Excel formulas that are not updating. They explain that there are five possible reasons for formulas not updating, such as the calculation option set as manual. To fix this, go to the formula tab and select automatic calculation. Another reason could be the format of the cell set as text instead of general. To solve this, select the row or column and change the format to general. Keep watching for more tips on fixing Excel formula update issues.