Answer 1

The limits of the float are not defined by the number of decimals, but by the memory space reserved for a float number.
 Since computers are binary they store floating point numbers as an integer and then divide it by a power of two so 13.95 will be represented in a similar fashion to 125650429603636838/(2**53). Double precision numbers have 53 bits (16 digits) of precision and regular floats have 24 bits (8 digits) of precision. The floating point in python uses double precision to store the values.