Yesterday we discussed the limit of the process of compounding interest. As we move through even shorter periods, from semi-annual to quarterly to monthly compounding and so forth, and as we approach an infinity of infinitesimal periods, i,e. continuous compounding, we find the number 2.71828 arises to stare us in the face as a limit. This was Jacob Bernoulli's result. So why is the number called Euler's number, and sometimes just e? Did Euler name it for himself? And, if so, isn't that an injustice? Shouldn't it be called b? Well, Bernoulli found 2.71828... but he neglected to name it. Gottfried Leibniz, the man recognized as THE founder of calculus in the German speaking world, seems to have called it "b" in letters he wrote in 1690 and 1691. Perhaps this was a recognition of Bernoulli's role. More important, though, Bernoulli neglected to explore the properties of this number outside of banking. It was Euler (pictured above) who defined it as the...