Meaning of percentage rate | Babel Free
Definitions
- A measure to show a change or relationship between two numbers as a fraction of 100, over a certain time.
- A coefficient, expressed as a fraction of 100, of the quotient of two numbers over a specified period of time, where the denominator has the same units as the numerator but is adjusted by a unit of time. This measure indicates the proportion of a part in relation to a whole and is commonly used to describe rates of interest, growth, or change in financial and economic contexts, expressed in percentage points.
Examples
“the annual percentage rate on the mortgage loan is 4.5%, indicating the cost of borrowing money on an annual basis, including interest and fees.”
CEFR level
B2
Upper Intermediate
This word is part of the CEFR B2 vocabulary — upper intermediate level.
This word is part of the CEFR B2 vocabulary — upper intermediate level.