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Value, measure, or degree; a charge, payment, or price determined through the application of a mathematical formula or based upon a scale or standard.
For example, an interest rate is determined by the ratio between the principal and interest.
Rate is also used synonymously with tax.
RATE. A public valuation or assessment of every man's estate; or the ascertaining how much tax every one shall pay. Vide Pow. Mortg. Index, h.t.; Harr. Dig. h.t.; 1 Hopk. C. R. 87.