Homonym: Rates (Scores)
Rates refer to the amount charged or paid for a service or product, often expressed as a ratio or percentage. Common examples include interest rates, which indicate the cost of borrowing money, and exchange rates, which show how much one currency is worth in relation to another. Rates can fluctuate based on market conditions, economic factors, and government policies.
In finance, rates play a crucial role in determining the cost of loans, investments, and savings. For instance, a higher interest rate typically means higher borrowing costs for individuals and businesses. Understanding rates helps consumers make informed decisions about spending, saving, and investing.