Rate (noun)
Definition
Rate is a noun that refers to a measure, quantity, or frequency of something about another unit of measurement. As a verb, rate means to assign a value, estimate, or rank to something based on its perceived quality, worth, or performance.
Etymology
The word rate comes from the Old French word rate, which is derived from the Latin word rata, meaning reckoning or calculation.
Synonyms
- speed
- pace
- frequency
- ratio
- proportion
Antonyms
- standstill
- cessation
Example
The interest rate on the loan was quite high, causing the borrower to carefully consider the total cost of repayment.
FAQs (Frequently Asked Questions)
How is the rate used in the context of finance and economics?
In finance and economics, it often refers to the percentage or proportion used to calculate interest, inflation, exchange rates, and economic growth.
How do interest rates affect borrowing and saving?
Interest rates directly impact the cost of borrowing and the return on savings. Lower interest rates make borrowing cheaper but may reduce the return on savings, while higher interest rates have the opposite effect.
What is the difference between rate and ratio?
It usually involves a comparison between two different units of measurement, such as miles per hour or cost per item. Ratio, on the other hand, compares two quantities of the same unit, expressing a relationship between the two.
Can rate also refer to the speed of something?
Yes, it can refer to the speed or pace at which something occurs or moves. For example, the rate of a moving vehicle is the speed at which it is traveling.
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