And even fewer realize that a 2.1% growth rate is itself exponentially faster than a 2% growth rate.
If something grows by 2% per day, vs 2.1% per day, after a year the second one is >20x bigger.
If something grows by 2% per day, vs 2.1% per day, after a year the second one is >20x bigger.
>>> 1.02**365
1377.4082919660768
>>> 1.021**365
1969.6808462403098
>>>Apparently I don't understand exponential growth either cause I assumed a 5% difference scales linearly (as in the difference between 20% vs 21% growth rates for a given period should be the same as between 2% and 2.1%).
Silly me.