Let $(a_n)$ be a sequence and $L$ be a real number. We say $\lim(a_n)=L$ if
$\forall\epsilon>0\exists N\in\mathbb{N} (n\geq N \Rightarrow |a_n-L|<\epsilon)$
I understand that n is the index of the sequence and L is the limit of the sequence and $\epsilon$ is the arbitrary / infinity small value +/- that we use to get close to L (?) but what is N?
If somebody could walk me though the definition so I could understand this better, I would appreciate it.
In words the definition says that for every $\epsilon>0$ you can find a natural number $N$ large enough such that $|a_n -L| <\epsilon \ \forall\ n \geq N$. This means that after a finite number of terms, the sequence gets very close to $L$.
For example, let $a_n=\frac1n$ and $\epsilon >0$ be given. Choose $N \in \mathbb{N}$ such that $N > \frac1\epsilon$.
Then $|a_n-0|=\frac1n \leq\frac1N< \epsilon \ \forall \ n\geq N.$