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Understanding Logarithms and Their Properties

Logarithms simplify computations and have useful applications in rate of return estimation. Learn about logarithmic properties and calculations for products, quotients, and powers. Discover the significance of natural logarithms and the base "e."

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Understanding Logarithms and Their Properties

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  1. By Cheng Few Lee Joseph Finnerty John Lee Alice C Lee Donald Wort Appendix 3A:Logarithms and their Properties

  2. Appendix 3A:Logarithms and their Properties Logarithms were originally developed to simplify computations. Today calculators and computers make this use of logarithms obsolete; nevertheless, they still have useful properties for application in rate of return estimation. If M and N are positive numbers and b is a positive number that is a base, then: From these relations we have

  3. Appendix 3A:Logarithms and their Properties • Using these relations, some useful properties can be discussed. • The logarithm of a product is the sum of the logarithms of the components: • The logarithm of a quotient is the logarithm of the numerator minus the logarithm of the denominator. • The logarithm of a number raised to a power equals the power times the logarithm of the number. • The natural logarithm is in terms of the base e, where e is a number equal to 2.71828. As it turns out, the limit of (1+l/n) = e as n approaches infinity.

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