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Exhibit 16-4
-Refer to the graph in the exhibit.Suppose Canadian tastes for British goods increase.How will the graph change?
Accrued Interest
Interest that has been earned but not yet received or paid. It accumulates from one payment period to the next.
Commission
A fee paid to an agent or employee for facilitating a sale or transaction, which is often a percentage of the sale price.
Accrued Interest
Interest that has been incurred but not yet paid, often referring to bonds or loans.
Interest Rate
The percentage charged on a loan or paid on savings over a period of time, typically expressed annually.
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