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Plus Magazine

March 2001
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C. J. Budd and C. J. Sangwin show us how to create mazes, and explain why mazes and networks have much in common. In fact the study of mazes and labyrinths takes us into the dark territory of murder, suicide, adultery, passion, intrigue, religion and conquest...

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Where does e come from and what does it do?

January 2001

Suppose you put \pounds 1 in a bank. The bank pays 4\% interest a year, and this is credited to your account at the end of a year. A little thought shows that at the end of five years an amount of money equal to \pounds(1+0.04)5 will sit in the bank (this bank charges no fees). \par However, if the interest (still at an annual rate of 4\%) was "compounded" every quarter, then the amount at the end of five years would be \pounds(1+0.04/4)4×5.

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Basic page

Where does e come from and what does it do?

January 2001

Suppose you put \pounds 1 in a bank. The bank pays 4\% interest a year, and this is credited to your account at the end of a year. A little thought shows that at the end of five years an amount of money equal to \pounds(1+0.04)5 will sit in the bank (this bank charges no fees). \par However, if the interest (still at an annual rate of 4\%) was "compounded" every quarter, then the amount at the end of five years would be \pounds(1+0.04/4)4×5.

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