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Million trapped by a frightful rate (6)

Ross

I believe the answer is:

admire

I'm a little stuck... Click here to teach me more about this clue!

'rate' is the definition.
Although both the answer and definition are verbs in their base form, I can't understand how they can define each other.

'million trapped by a frightful' is the wordplay.
'million' becomes 'm' (abbreviation).
'trapped by' is an insertion indicator.
'frightful' becomes 'dire' (I've seen this before).
'a'+'dire'='adire'
'm' going within 'adire' is 'ADMIRE'.

Can you help me to learn more?

(Other definitions for admire that I've seen before include "Respect greatly" , "Respect and approve of" , "Goggle at" , "Esteem, have high regard for" , "Regard approvingly" .)

I've seen this clue in The Independent.
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