Why are these limits important?
They are the building blocks for trigonometric and exponential-type limits; many problems reduce to them by substitution.
How is the second limit related to e?
e is defined as lim(x→∞)(1+1/x)^x ≈ 2.71828, the base of the natural logarithm.
Why isn’t my result exactly e for large x?
It is a finite approximation of (1+1/x)^x; the larger x the closer to e. At x=100000 it is accurate to about 5 digits.
Can I just set sinx/x = 1?
Only in the limiting sense x→0; never at a finite x.
Does the first limit generalize?
Yes. If u→0 then sinu/u→1; e.g. sin(2x)/(2x)→1 as x→0.