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Hi William, I think both terms are referring to situations like the compound interest that Stephen mentions above, that is an exponential rate of growth. In his example the investment yields 10% annually. I would say the growth rate is 10% and the growth factor is 1.10. The growth rate is a percentage and the growth factor is a multiplying factor. For example look at http://www.eckstein.seattleschools.org/rmohashi/DailySummary2.html Harley
 


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