The Annual Percentage Rate (APR) is the total amount of interest you would pay (or receive) in a year.
Using the standardised terminology 'APR' makes it easier to compare competing rates offered by...
A rate is a ratio that compares two different units. ex: 300 miles\ 6 hours. you can't convert miles into hours.A unit rate is a rate comparing a number to 1 unit to another. ex: 50 miles\1 hourA...
Total income tax as a percentage of total taxable income is the average tax rate, whereas total income tax as a percentage of total economic income is the effective tax rate.
A rate compares two different units, like 60 Kilometers an hour (60 km/hour) while a ratio compares two things, like 2 apples:3 oranges (: means to, so 2:3 actually mean 2 To 3).Hope this helps :)