How to Use e in Excel Using the EXP Function? 2 Easy Examples
Note: This tutorial on how to use the Euler’s number e in Excel is suitable for all Excel versions including Office 365.
If you have ever wondered how to work with Euler’s number (denoted by ‘e’) in Excel, this is the guide for you.
Here, you’ll learn about Euler’s number and how to use it in Excel the easy way.
I’ll Cover:
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What is Euler’s Number?
The Euler’s number is a mathematical constant denoted by the symbol ‘e’. It is an irrational number approximately equal to 2.71828. Since it is an irrational number, it is always denoted by ‘e’ instead of its approximate value.
Technically, it is the limit of ‘n’ as it approaches infinity in the following equation.
It can also be calculated as the sum of the following infinite series.
Without getting into mathematical jargon, a variety of natural processes involving compound or continuous growth can be expressed using Euler’s number.
For example, it has some very practical applications in statistical analysis (growth models) and financial modelling (compound interest). In fact, Euler’s number was stumbled upon by the famous mathematician Jacob Bernoulli while examining how compound interest works.
In a nutshell, it signifies exponential growth and its inverse signifies exponential decay.
Euler’s number has immense mathematical importance alongside. Like, e is also irrational and cannot be expressed in decimal or fractional notation.
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How to Use e in Excel?
Excel has a built-in function called Exp() dedicated to calculations involving Euler’s number. Simply put the EXP(x) function returns the value of e raised to the power of ‘x’. Here, ‘x’ can be a simple number like 5 or 9 or even a complex formula like y+5.
Syntax
=EXP(number)Where ‘number’ is any direct or indirect numerical value.
So, in order to return the value of Euler’s number, simply use EXP(1). This will return the value e raised to the power of 1, which is simply e.
You can visualize the EXP function in the form e^(number), where e ≈ 2.718.
=EXP(0) // will return a value of 1
=EXP(1) // will return a value of 2.718
=EXP(2) // will return a value of 7.389
If you want to calculate the value of e(x^3-1), you can use =EXP(F1^3-1).
Exponential in Excel – Example 1
In the above example, the formula EXP(A2) calculates for e^2 and returns the value 1.
Similarly, the formulas EXP(A3) and EXP(A4) calculate for e^1 and e^2 respectively.
In the last formula, EXP(A5^2-1) calculates for e^(3^2-1)and returns for 2980.958.
Exponential in Excel – Example 2
In this example, we are given the 2020 population figures of 5 major cities. We are asked to estimate their population in the year 2030, assuming an average growth rate of 2 per cent.
To do this, you can use the following population growth formula
| P = P0*ert |
where,
| P0 is the initial population |
| r is the rate of growth |
| t is the time ( in Years) |
We can directly implement this formula using the EXP function as shown below.
Important Notes About the EXP Function in Excel
- Use EXP(1) to return the value of e in Excel
- e is named after famed mathematician Leonhard Euler.
- EXP signifies exponential growth and is the inverse of exponential decay represented by the LN function.
- The EXP function takes only numerical values as arguments.
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FAQs
How do I calculate ‘e’ in Excel?
Use the EXP function to calculate the value of e in Excel. For example, using the formula EXP(1) will return the value of e raised to the power of 1.
What is the formula to calculate Exponential in excel
The EXP formula in Excel calculates the values of the exponential constant (e, also known as Euler’s constant) raised to any power.
Closing Thoughts
In this guide, I have explained what is meant by ‘e’ in Excel. I walked you through how to use Euler’s number using the EXP function with the help of various illustrations.
If you have any questions or doubts regarding this, please let us know in the comments section.
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Adam Lacey
Adam Lacey is an Excel enthusiast and online learning expert. He combines these two passions at Simon Sez IT where he wears a number of different hats.When Adam isn't fretting about site traffic or Pivot Tables, you'll find him on the tennis court or in the kitchen cooking up a storm.
