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You will receive a message stating that your rate card gets created and receive a message when done. Afterward check your newly created rate card and update the rates, most easily done by using

Modify Ad Prices

An easy way of updating your prices is to use views. In Classic or lightning Salesforce allows mass editing when you are selecting on record type. Therefore create a view with a filter that shows the Ad Prices you like to modify and then change and save.

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Or even mass update by checking the update x selected items checkbox:

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Alternatively you can use the 3.3.3 Create and Update Rates Wizard.