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From the book, Chapter 13. The design studio: $200,000 to $360,000 in three years is 80% in all and a CAGR of 21.6% a year, not the 26.7% simple average of its yearly rates. A 20% fall needs a 25% rise to recover; 5% a month compounds to 79.6% a year; 6% growth with 4% price rises is 1.9% real growth.
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