In this tutorial, I will show you how to use ‘e’ in Excel (where ‘e’ is the Euler’s number)
What is e and What Does it Mean?
The symbol, e is also known as the Euler’s number. It is a mathematical constant that is approximately equal to 2.71828. Being an irrational number, it cannot be written as a simple fraction.
Its usefulness in a number of applications stems from the fact that a number of natural processes can be described mathematically using this number.
That is why the logarithm that uses this number as its base is called a Natural logarithm.
The value of e applies well to areas where the impact of the compound and continuous growth needs to be taken into consideration.
As such, it has a lot of interesting applications, especially in the areas of finance and statistics. For example, it is often used in growth problems like population models.
How to Use e in Excel
The value of e is mostly used in combination with a rate and a time period, often having the value of e raised to the power of some variable(s).
Owing to its application in numerous areas Excel has the handy EXP function in its stash of statistical tools. This function lets you use the value of e very easily, without having to memorize its value.
The EXP function lets you use the value of e and raise it to any power to get the result.
The syntax for the EXP function is quite simple:
Here, EXP returns the value of constant e raised to the power of the given value.
For example, the function =EXP(5) will return the value of e5.
Similarly, even if you want to find the value of e raised to a more complex formula, for example, 2x+5, you simply need to type: =EXP(2x+5). This will give the same value as e2x+5.
It goes without saying that if you want to simply get the value of e, you only need to find the value of e1. In other words, you need to use the formula:
Let us see a few small examples to understand how the EXP function works:
- The first formula calculates the value of e0. This returns the value 1, since any value raised to the power of 0 returns 1.
- The second formula calculates the value of e1. This is a great way to get the value of e, if you want to combine it with some other formula or function. So, for example, if you want to find the value of 2e, you only need to type the formula: =2*EXP(1).
- The third and fourth formulae calculate the values of e2 and e3 respectively. As such, you can find the value of e raised to any power in the same way.
- The fifth formula shows that you can also use formulas and functions within the EXP function. For example, you can find the value of e2xby using the formula: =EXP(2*x), where x can be any number or a reference to a cell containing a number.
In this tutorial, we showed you how you can use the EXP function to either get the value of the Euler’s number or perform calculations that involve this constant.
We hope our simple examples and explanations have made it easy for you to understand how to use ‘e’ in Excel.
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