What is the prorated price?

If you use something for less time than scheduled, you may be charged only for the time you used it. This is called a prorated price. Proration means dividing something proportionally, usually based on a unit of time. For example, if a service costs $50 a month but you only used it for half a month, the charge would be $25. You pay the service provider for the amount of time the service was used compared to the cost for the entire time.

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