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Jetzt kostenlos anmeldenIf you invest $1000 at 5% interest compounded continuously, how long will it take for you to be a millionaire? Here we will look at:
the definition of the natural logarithmic function and its relation to the natural exponential function,
how to graph the natural logarithmic function, and
how to convert a logarithmic function to a natural logarithmic function.
Remember that e is the base used in the exponential growth and decay function . For more details see Exponential Growth and Decay. In addition, you know that exponential functions and logarithms are inverses of each other, so the inverse of the exponential growth function is . However, this natural logarithm gets used so much that it has a shorthand:
The natural logarithm function is the inverse of the exponential function , and it is written . This is read as "f of x is the natural log of x".
The graph below shows the natural log is the reflection of the exponential growth function over the line.
In intuitive terms, the exponential function tells you how much something has grown given an amount of time, and the natural log gives you the amount of time it takes to reach a certain amount of growth. You can think of it as
Suppose you have invested your money into chocolate, with an interest rate of 100% (because who doesn't want to buy chocolate), growing continuously. If you want to see 20 times your initial investment, how long do you need to wait?
Answer:
The natural logarithm gives you the amount of time. Since , you would only need to wait about 3 years to see 20 times your initial investment. That is the power of continuous compounding!
Because the natural logarithmic function is just a logarithm base e, it has the same properties as the regular logarithmic function.
Properties of the natural logarithmic function:
Why is ?
Answer:
One reason is that the natural log and the exponential function are inverses of each other, so
But the more intuitive reason is that the natural log tells you how long it takes to reach a certain amount of growth. So asking you to find is the same as asking you to find the amount of time it takes to reach "e" growth. But from the exponential function you know that it takes 1 unit of time for the function to reach the value "e", so .
It can be helpful to change the base of logarithmic functions to see how they compare to each other. To do this use the Proportion Rule for logarithms,
Since you want to convert to , use to get
So is equivalent to .
Convert the functions and to base , then graph them all in the same picture.
Answer:
Remember that when a base isn't mentioned that it is assumed to be base 10. So using the Proportion Rule you get
and
So they are just constant multiples of the natural logarithmic function.
The derivative of the natural logarithmic function is
For more information on the derivative of the natural logarithmic function see Derivative of the Logarithmic Function.
The integral of the natural logarithmic function is
For more information on the integral of the natural logarithmic function see Integrals Involving Logarithmic Functions.
The natural logarithm is a logarithmic function with a base of e, where e is Euler's number.
The most intuitive way to graph the natural log function is to think of it as the inverse of the exponential function.
Because f(x) = ex is the natural growth function, and the natural logarithm is the inverse of the natural growth function.
You don't solve natural logarithmic functions, you solve natural logarithmic equations.
Use the Proportion Rule for logarithms.
If the exponential growth function tells you how much growth there is in a given amount of time, what does the natural logarithm function tell you?
The natural logarithm function tells you how long it takes to reach a certain amount of growth.
True or False: The natural logarithmic function and a logarithmic function base b are actually just multiples of each other.
True. You can change from one to the other using the Proportion Rule for logarithms.
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