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To have the date update every time the worksheet is opened, use the TODAY function.
The message about updating may be because you have links in the spreadsheet (the message will refer to updating links).
The Time Value function converts a string to a time serial number.
The time's serial number is a number between 0 and 1.
For example, noon (halfway through the day) is represented as 0.5.
This page lists the built-in Excel Date and Time Functions.
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