The actual credit one receives in making a partial payment is calculated by taking the partial payment and dividing by (1 + the discount rate).

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The actual credit one receives in making a partial payment is typically calculated by applying the partial payment directly to the principal amount owed, not by dividing the partial payment by (1 + the discount rate). The discount rate is more commonly used in the context of present value calculations and discounting future cash flows, not for calculating credits for partial payments on debts.

The Actual Credit One Receives in Making a Partial Payment