Euler's number (e) is approximately equal to 2.71828. Named after Swiss mathematician Leonhard Euler. Used in exponential growth and decay calculations. Cannot be expressed as simple fraction or root of polynomial
Interest is the cost of borrowing money from a lender. Interest can be earned through direct or indirect lending. Monthly payments first cover interest, then principal repayment
Daily compound interest calculates interest on principal and previously accrued interest. More frequent compounding leads to higher interest earnings. Continuous compounding yields highest interest, followed by daily, monthly, quarterly, semiannually, and annually
Exponential growth shows sharper increases over time. Formula: V = S × (1+R)T, where S is starting value and R is interest rate. Contrasts with linear (additive) and geometric (power-raised) growth
Euler's number (e) is the base of natural logarithm with value 2.71828. It is an irrational number that never repeats. Represented by letter e and used in exponential growth calculations
Compound interest adds accumulated interest back to principal. Formula: A = P(1+r/n)^nt, where A is future value, P is principal. Effective annual rate (APY) shows actual interest after compounding