Base Rate for Dummies
noun
pronunciation: beɪs_reɪtWhat does Base Rate really mean?
Hey there! So, "base rate" is like the starting point for something. It's the basic rate or the standard that's used as a reference for calculating other things. It's kind of like the foundation of a building – it's the starting point on which everything else is built.
For example, let's say you're trying to figure out the cost of something, like a phone plan. The base rate might be the monthly fee that you have to pay before adding any extra charges. Or in the case of a bank, the base rate is the interest rate that’s set by the central bank, and that other banks use as a benchmark for setting their own interest rates.
So, "base rate" is like the original starting point from which other things are determined. It's like the first ingredient in a recipe – everything else is added on to it. Does that make sense to you?
For example, let's say you're trying to figure out the cost of something, like a phone plan. The base rate might be the monthly fee that you have to pay before adding any extra charges. Or in the case of a bank, the base rate is the interest rate that’s set by the central bank, and that other banks use as a benchmark for setting their own interest rates.
So, "base rate" is like the original starting point from which other things are determined. It's like the first ingredient in a recipe – everything else is added on to it. Does that make sense to you?
Revised and Fact checked by John Smith on 2023-11-15 23:07:48
Base Rate In a sentece
Learn how to use Base Rate inside a sentece
- The base rate for a savings account is 2%, which means if you deposit $100, you will earn $2 in interest each year.
- The base rate for a taxi ride is $3, and then it increases by $1 per mile you travel.
- The base rate for a music streaming service is $10 per month, and then you can add on extra features for an additional cost.
- The base rate for a hotel room is $100 per night, but it may increase on weekends or during holidays.
- The base rate for a pizza is $10, and then you can add extra toppings for an additional fee.
Base Rate Hypernyms
Words that are more generic than the original word.
Base Rate Regions
Regions where the word is used.