Cost or level of a fee, often on a per-hour or percentage basis (i.e. $100 per hour or 10% interest).
Rate cap
Maximum interest rate charge allowed on the monthly payment of an adjustable rate mortgage during an adjustment period.
Rate lock
Lender's commitment to borrower to guarantee a specific interest rate for a certain period of time.
Rate of return on investment (roi)
Income divided by the total amount invested.
Rate schedule
A mechanism used by electric utilities to determine prices for electricity; typically defines rates according to amounts of power demanded/consumed during specific time periods.
Rate type
Rate type determines how payments adjust over the loan term. Rate types include fixed-rate (does not change), balloon and adjustable rate.
Rate-improvement mortgage
Loan that entitles a borrower to a one-time interest rate cut without refinancing.
Rated horsepower
Rated horsepower is a motor's running torque at its rated running speed. The motor can be run continuously at its rated horsepower without overheating. If the motor is required to give an extra spurt of effort while running, the motor is overloaded and develops extra horsepower to compensate. The most horsepower that can be drawn from a motor to handle this extra effort is its maximum developed horsepower.
Rated life
The length of time that a product or appliance is expected to meet a certain level of performance under nominal operating conditions; in a luminaire, the period after which the lumen depreciation and lamp failure is at 70% of its initial value.
Rated power
The power output of a device under specific or nominal operating conditions.
