MMW– Final Examination
Instructor: Catura, Savier Liron L.
1 Identification
1. What method can I use to calculate my outstanding balance if I know the number of payments
I have made?
2. This is a process of fairly assigning identical indivisible objects among individuals entitled to
shares that may be unequal.
3. Which interest type only applies the interest rate to the Principal amount?
4. Criteria that must be met by voting methods to be considered fair.
5. The total value comprising of the sum of the Principal and Interest garnered.
6. The rule of apportionment that says that the assigned seats must come from either the upper
quota or the lower quota.
7. Which of the voting methods was made with the Majority Criteria in mind?
8. The name of a fund which will exactly repay the loan in one lump sum at the end of a specified
period of time.
9. In terms of voting, this means ”more than 50% of the votes”
10. This is an account into which, or out of which, a sequence of scheduled payments is made.
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MMW Final Examination
2 Multiple Choice
(For Items 1-3) If I take a loan this year for Php 5,000 on May 12 under simple interest, at 10%
per year, and I repay the whole amount by September 30, how much would my interest be if they
counted the days using
1. Exact Interest
(a) 193.74
(b) 192.62
(c) 191.67
(d) 195.83
2. Ordinary Interest
(a) 193.74
(b) 192.62
(c) 191.67
(d) 195.83
3. Banker’s/ Merchant’s Rule
(a) 193.74
(b) 192.62
(c) 191.67
(d) 195.83
(For items 4-6) Given the following apportionment table, answer the following questions
Seats to be Assigned: 40, Standard Divisor= 30
District 1 2 3 4
Population 325 400 200 275
Standard
10.83 13.33 6.67 9.17
Quota
Lower
10 13 6 9
Quota
Upper
11 14 7 10
Quota
4. Using Jefferson’s Method, how many assigned seats will District 1 have initially?
(a) 10
(b) 11
(c) 13
(d) 14
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MMW Final Examination
5. Using Webster’s Method, how many assigned seats will District 3 have initially?
(a) 6
(b) 7
(c) 9
(d) 10
6. Using Hunting-Hill Method, how many assigned seats will District 4 have initially?
(a) 9
(b) 10
(c) 11
(d) 12
7. Which fairness criteria can the voting method pairwise comparison violate?
(a) Head-to-head comparison
(b) Irrelevant Alternatives
(c) Monotonicity
(d) Majority
8. Which fairness criteria is checked when a reelection happens?
(a) Head-to-head comparison
(b) Majority
(c) Monotonicity
(d) Irrelevant Alternatives
9. When a candidate has the majority of first place voters but does not win the voting method,
which fairness criteria is violated?
(a) Head-to-head comparison
(b) Majority
(c) Monotonicity
(d) Irrelevant Alternatives
10. This is what we calculate if we want to know how much we need to invest right now to be able
to accumulate a specific future value
(a) Present Value
(b) Interest
(c) Outstanding Balance
(d) Annuity
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MMW Final Examination
3 Word Problems
1. Jack decided to take a business loan of Php 100,000 for a small food cart. This will be payable
over 5 months, with an interest of 5% per month. The method of payment will be under a
regular amortization.
(a) Make an amortization schedule based on the conditions.
(b) Later on, after he paid the 4th monthly payment, he asked for a restructuring of the
schedule due to an emergency. The loaning agency agrees, modifying the schedule to have
an additional two months. Using the same conditions as before, how will the modified
schedule look for payments 5-7? (Hint: You will still use the first 4 payment periods as
what you calculated in the previous question.)
2. You and a group of friends want to watch a movie. Once there, you find 4 options: Action,
Biography, Comedy, Drama. To be diplomatic about it, you decide to hold a mini election to
choose.
You are given the following preference table.
(A=Action, B=Biography, C=Comedy, D=Drama)
Votes 6 5 2 3
1st A C B D
2nd B A C C
3rd C B D B
4th D D A A
(a) Using each voting method, find out who wins for:
Plurality Method
Borda Count Method
Plurality with Elimination Method
Pairwise Comparison Method
(b) If you wanted Action to win, which voting method should you use? (If there is no method
that chooses that, write ”Cannot be chosen”)
3. In a community, it was decided to have a council, with 20 seats to be assigned as its council
members. This community is made of 4 Districts, with the given population.
District 1 2 3 4
Population 348 289 1250 113
(a) Using Hunting-Hill method, what will be the apportionment of seats? (Hint: The modified
divisor that will give the proper number of assigned seats is just within 1 unit of the
standard divisor. For example, IF the standard divisor is 20, then the modified divisor
you’re looking for will be within 19-21)
(b) Does this method follow the Quota Rule? Why or why not?
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MMW Final Examination
4 Essay
Our Philippine Elections uses the Plurality voting method to elect officials. If you were to choose,
which voting method would you prefer the Philippines adopt? Why? Talk about its advantages
and disadvantages.
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MMW Final Examination
5 Formulas
r nt
A=P 1+
n
r −nt
P =A 1+
n
(1 + r)n − 1
A=R
r
1 − (1 + r)−n
P =R
r
L
R=
1−(1+r)−n
r
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