Investopedia Return on Investment (ROI) page says
ROI can be used in conjunction with Rate of Return, which takes in account a project’s time frame
From this I understood Return on Investment and Rate of Return are different formula. they both are two different measures. But in Rate of Return – RoR Definition page, it says
This simple rate of return is sometimes called the basic growth rate, or alternatively, return on investment, or ROI.
The second quote I have given from Investopedia ROR page contradicts with first quote from ROI page. Moreover the word "return on investment" is linked to ROI page mentioned in first line
I am confusing. Can anybody confirm both are same ? If no What are the formula for these two measures and difference between them ?