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Leonhard Euler was a leading Mathematician and Physicist during the Age of Enlightenment. Born in Switzerland in 1707 and working in St. Petersburg, Russia and later Berlin, Prussia, he was prolific, producing numerous theorems and formulas. One of his more famous equations simply called the Euler Formula or Euler Identity is:

Where
The following is a derivation of this formula using series expansions.
Using the Taylor Series Expansion Formula for infinitely differentiable functions,
we get,
Keeping in mind that,
and and and and etc.,
We get,
Notice above the equation is in the form;
,
where
is the real part and is the imaginary part of Z.
Thus the Cosine is referred to as the real part and the Sine is the imaginary part.
Thanks for the help Wikipedia.
Also I want to recognize a kindred spirit. I came across the Fermats Last Theorem Blog while preparing this entry for my own blog. The blog offers a derivation of the Euler Formula as well as other formulas, please give it a look, it's really well done.
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