in the 18thC, Leonhard Euler gave the current definition of the irrational number constant e, the base of the natural logarithm, still known as Euler's number and introduced the use of the exponential function and logarithms in analytic proofs
e = lim (n ⇒ ∞) (1 + 1/n)n = 2.171828….
ie. a compound interest calculation for 1 time period with an interest rate per time period of 1, and the answer gets very close to the actual value e when you make n = 1,000,000
NB. principal + compound interest after t time periods = principal x (1 + r/n)nt where r is the interest rate per time period and n is the number of times it is compounded during that time period
ex is NOT defined as being equal to e multiplied by itself x times as is the case in usual terminology of 2x although for x as a Real Number, it does equate to this, but does not if x is a complex number
INSTEAD it refers to a different infinite polynomial function, often called exp(x) where x can be a real number, complex number, matrix or a quantum operator
exp(x) = 1 + x + (x)2/2 + (x)3/6 + ….+ (x)N/N! = sum( (x)N/N! ) for N = 0 to however much you want to get to, eg. 100, remembering that for N= 0, 0! = 1 which is the 1st term in our equation, and N=1 gives x, the 2nd term in our equation.
ie. exp(0) = e0 = 1
ie. exp(1) = e1 = e = 1 + 1 + (1)2/2 + (1)3/6 + ….+ (1)N/N! = 2.71828…
ex is unique in that its differential is also ex
exp(a+b) = e(a+b) = ea x eb
when e is used as the base for a logarithm, it is called the “natural logarithm” and denoted by ln instead of log
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