Rate


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Related to Rate: bank rate, exchange rate, heart rate

Interest Rate

The percentage of the value of a balance or debt that one pays or is paid each time period. For example, if one holds a bond with a face value of $1,000 and a 3% interest rate payable each quarter, one receives $30 each quarter. The percentage of the interest rate remains constant (usually), but the amount one pays or is paid changes according to the amount of the balance or debt. For example, if one pays off part of the principal on a loan each month, the amount one pays in interest decreases even though the rate remains the same. See also: Time Value of Money.

Rate

See Interest Rate.

References in classic literature ?
Nearly one- quarter of its citizens would work in factories, while the others would be busy in six thousand exchanges, making it possible for the people of the United States to talk to one another at the rate of SEVEN THOUSAND MILLION CONVERSATIONS A YEAR.
Most people fancied that a telephone system was practically the same as a gas or electric light system, which can often be duplicated with the result of cheaper rates and better service.
First, therefore, let usury in general, be reduced to five in the hundred; and let that rate be proclaimed, to be free and current; and let the state shut itself out, to take any penalty for the same.
I should be glad if you could let me have one within half an hour, at any rate.
Some day, he consoled himself, they will be submitted at MY usual rate.
He anchored his faith to that, and was confident that the really first-class magazines would pay an unknown writer at least an equal rate, if not a better one.
China's population must be seven hundred millions, eight hundred millions, nobody knew how many millions, but at any rate it would soon be a billion.
There was talk of all countries putting bounties on children to increase the birth rate, but it was laughed to scorn by the arithmeticians, who pointed out that China was too far in the lead in that direction.
The easy and (as we then thought) the rapid rate of traveling had its invigorating effect on her nerves.
The elephant is reckoned to be the slowest breeder of all known animals, and I have taken some pains to estimate its probable minimum rate of natural increase: it will be under the mark to assume that it breeds when thirty years old, and goes on breeding till ninety years old, bringing forth three pair of young in this interval; if this be so, at the end of the fifth century there would be alive fifteen million elephants, descended from the first pair.
He leaves him for Barbara at any rate, and hopes she is better.
It consisted of a few perfectly harmless sentences concerning various rates of exchange.