Advanced Calculus means different things in different context. But in general there are only two different meanings.
i) Multivariable and Vector Calculus, where instead of looking at just the boring and trivial real line, we move up to look into functions over real vector spaces Rn, where functions are not as nice, but much more practical in Physics, Engineering etc. (Space is R3, Space-Times os R4 with a weirdly defined dot product)
ii) "Real Math" Calculus, or more accurately, rigorous Calculus or Modern Calculus where we don't just take what the professor tells us to be the absolute truth, but rather using logic, axioms and tools such as mathematical induction, symbolic logic, and other type of mathematical proofs to come to our own conclusion of what is true (and more importantly why) and what is false. It is "advanced" as there is no direct reason of doing so in Engineering, Physic, or any field of Science. It is a way for people going into research in Mathematics to be prepared as it is how modern Math is really done.
I am in Advanced Calculus myself where it is the second meaning. Clearly, the second case involves discussions and theorem proving for the first case.
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No, not really. Calculus uses algebra to solve equations, but calculus is a branch of mathematics all its own.
No. College Algebra and Precalculus (or Trigonometry) are enough preparation to take Calculus.
Calculus is commonly taken as a first year course in college, but can be taken as an advanced course late in high school through programs like AP Calculus.
Differential equations, Linear Algebra, Abstract Algebra, Real and Complex Analysis, Advanced Calculus, and lots of other fun stuff.
Most of the time, you don't use calculus or other types of advanced math in your daily life, unless "daily life" specifically involves working in some engineering branch, teaching advanced math, or something similar.