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question 89

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Definitions:

Principal Portion

The part of a loan payment that goes toward reducing the original loan amount, as opposed to the interest portion.

Interest Portion

The part of a payment that covers the interest on borrowed money.

Harmonized Sales Tax

A combined tax that merges a country's or region's general sales tax with its value-added tax, designed to simplify the taxation system.

Retailer

A business or individual that sells goods directly to consumers, acting as the final link in the supply chain between manufacturers and consumers.

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