Term
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Definition
| If you invest P$ today for a promise of getting F$ in return at some future date, then F should be more than P. and vice versa. |
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Term
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Definition
| How much the money will increase from the amount you put in. |
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Term
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Definition
| the original money invested or borrowed. |
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Term
| Annual Percentage Rate (APR) |
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Definition
| yearly interest rate, standard way to handle interest. |
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Term
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Definition
| only the principal generates interest over time. |
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Term
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Definition
| the principal generates interest, then the principal plus the interest generates more interest and so on. |
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Term
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Definition
| the interest rate that applies to each compounding period. Divide APR by number of times money is compounded in a year. |
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Term
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Definition
| (effective rate) the % of profit that the investment generates in a one year period. |
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Term
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Definition
| payments are made so as to produce a lump-sum payout at a later date, as in a college trust fund. |
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Term
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Definition
| opposite of DA, lump sum first as in a car loan. |
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Term
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Definition
| the candidate with the most first place votes wins. |
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Term
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Definition
| each place on the ballot is assigned points, the points are tallied, and the player with the most wins. This is the Borda winner. |
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Term
| Plurality with Elimination Method |
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Definition
| count first place votes, if you have a majority it is the winner. If not, eliminate the fewest votes player. Recount and keep going until you get a majority candidate. |
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Term
| Pair-Wise Comparison Method |
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Definition
| (Copeland’s Method) every candidate goes head-head with each other. Every vote is assigned to either X/Y depending who is higher on the ballot. Winner is the player with the most points after all the pc are done. |
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Term
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Definition
| If candidate X has a majority of the first-place votes, then candidate X should win. |
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Term
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Definition
| If candidate X is preferred by the voters over each of the other candidates in a head-head comparison, then he wins. |
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Term
| The Monotonicity Criterion |
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Definition
| Candidate X wins, and in a recount, the only changes favor X, he should still win. |
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Term
| The Independence of Irrelevant Alternatives Criterion |
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Definition
| If candidate X is a winner of an election and in a recount one of the non-winning candidates leaves then X should still win. |
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Term
| Arrow's Impossibility Theorum |
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Definition
| mathematically impossible for a democratic voting method to satisfy all of the fairness criteria. |
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Term
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Definition
| any formal voting arrangement in which voters are not necessarily equal in terms of the number of votes they control. Yes-no votes. |
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Term
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Definition
the player’s weight is bigger than or equal to the quota
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Term
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Definition
| player who has no say in the outcome of the election. |
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Term
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Definition
| not a dictator, but has veto power if motion cannot pass unless that player votes in favor of the motion. Can force a motion to fail but not to pass. |
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Term
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Definition
| coalitions that have enough votes to win. Total number of votes is at least as big as quota. |
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