👉 In mathematics and finance, prorata is a term used to describe dividing a number into equal parts or amounts. In specific terms, it refers to the division of one amount (the numerator) by another amount (the denominator), which results in a quotient (the divisor) that is approximately equal to the original amount divided by its own value. This concept can be useful when comparing different amounts or fractions of something, such as the cost of goods sold divided by the total sales revenue. For example
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What is the definition of Proratable? 🙋
👉 The term "proratable" in the context of employee benefits refers to a system where employees' contributions towards their company's pension, health insurance, and other related benefits are based on an employee's age or years of service. This means that each year, the company pays out more money to those who have worked longer or contributed more than others, while those who have been with the company for less time receive less. For example, if a 40-year-old employee is contributing $1
