a rate is a comparison of something. A percentage is always a comparison to 100.
When you see a comparison rate, usual the comparison rate they show you includes all fees and extras. So the comparison rate of 10 pa, is the actual amount you pay for the loan. The 8.99 pa is the "interest rate" ONLY, not including fees and extras. They call it "Comparison Rate" , because its the best way to "Compare" it to other loans from other lenders. (Hence the name)
It is a unit rate.
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Average rate.
.98%
Ratio
A comparison rate in Australia must be quoted by lenders who offer home loans and personal loans. The comparison rate is handy for consumers because it allows consumers to see the total "real" interest rate as it must include fees and other charges that would not normally be included within an interest rate.
Rate is a comparison based on division.
Ratio
Measurement and the comparison of total growth per unit time is called absolute growth rate whereas the identification of speed of plant growth is called absolute growth rate.