Rate definition configuration for 70% payment rate

Summary:

Has anyone successfully configured a rate definition with a payment rate % (example 70%)?

This rate definition would then be used in a fast formula to return different % payment rates based on service year logic.

Content (required):

Please share details of how the rate definition was configured

Version (include the version you are using, if applicable):

Code Snippet (add any code snippets that support your topic, if applicable):