ANEXO MANUAL DIDAC

IN

SERIES UNIFORMES SERIES VARIABLES

Anualidades vencida Gradiente aritmtico

Anualidades anticipada Gradiente aritmtico diferido
Anualidad diferida Gradiente geomtrico
Anualidad perpetua Gradiente geomtrico diferido
UAL DIDACTICO DE MATEMATICAS FINA
INDICE TEMATICO

CONVERSION DE TASAS

Tasa nominal
Tasa efectiva anual
DE MATEMATICAS FINANCIERAS
TEMATICO

SISTEMAS DE AMORTIZACION INDICADORES DE CONVENIENC

Cuota fija VPN

Cuotas extraordinarias TIR
Anualidad diferida TIRM
Gradiente aritmtico CAUE
Gradiente geomtrico B/C
AS

S DE CONVENIENCIA
 Valor Presente de una serie uniforme
con anualidad vencida
Sintaxis
(P/A, i%, n)
Tasa Per. Nper ANUALIDAD VP
9.00% 12 500,000 3,580,363

Valor Futuro de una serie uniforme

con anualidad vencida
Sintaxis
(F/A, i%, n)
Tasa Per. Nper ANUALIDAD VF
2.50% 24 100,000 3,234,904

Valor de la anualidad vencida

conociendo el valor presente
Sintaxis
(A/P, i%, n)
Tasa Per. Nper VP ANUALIDAD
1.00% 60 30,000,000 667,333

Valor de la anualidad vencida

conociendo el valor futuro
Sintaxis
(A/F, i%, n)
Tasa Per. Nper VF ANUALIDAD
6.50% 8 10,000,000 992,373

Valor Presente de una serie uniforme

con anualidad anticipada
Sintaxis
(P/A, i%, n)
Tasa Per. Nper ANUALIDAD VP
4.00% 6 750,000 4,088,867

Valor Futuro de una serie uniforme

con anualidad anticipada
Sintaxis
(F/A, i%, n)
Tasa Per. Nper ANUALIDAD VF
 1.00% 9 380,000 3,595,641

Valor de la anualidad anticipada

conociendo el valor presente
Sintaxis
(A/P, i%, n)
Tasa Per. Nper VP ANUALIDAD
2.50% 12 24,000,000 2,282,625

Valor de la anualidad anticipada

conociendo el valor futuro
Sintaxis
(A/F, i%, n)
Tasa Per. Nper VF ANUALIDAD
7.00% 12 5,000,000 261,224
 ANUALIDAD DIFERIDA

Valor Presente
Con perodo de gracia (r) y perodo de pagos (s)
Sintaxis
P=(P/A , i%, r, s)
Tasa Per. r s ANUALIDAD VP
0.50% 23 36 1,000,000 29,308,508

Valor de la anualidad vencida diferida

conociendo el valor presente
con perodo de gracia (r) y perodo de pagos (s)
Sintaxis
A=(A/P , i%, r, s)
Tasa Per. r s VP ANUALIDAD
0.75% 20 28 50,000,000 2,306,618
 ANUALIDAD PERPETUA
Valor Presente de una anualidad perpetua
Sintaxis
(P/A, i%)
Tasa Per. ANUALIDAD VP
1.39% 750,000 53,956,835
 GRADIENTE ARITMETICO

Valor Presente
Gradiente Aritmtico Vencido Creciente
Sintaxis
P=A(P/A ,i%, n) + G(P/G, i%, n)
Tasa Per. Nper Pago Gradiente VP
0.75% 180 350,000 3,000 55,185,497

Valor Presente
Gradiente Aritmtico Vencido Decreciente
Sintaxis
P=A(P/A ,i%, n) + G(P/G, i%, n)
Tasa Per. Nper Pago Gradiente VP
0.75% 180 350,000 -3,000 13,829,889

Valor Presente
Gradiente Aritmtico Anticipado Creciente
Sintaxis
P=A(P/A ,i%, n) + G(P/G, i%, n)
Tasa Per. Nper Pago Gradiente VP
1.31% 36 120,000 10,000 8,129,035

Valor Presente
Gradiente Aritmtico Anticipado Decreciente
Sintaxis
P=A(P/A ,i%, n) + G(P/G, i%, n)
Tasa Per. Nper Pago Gradiente VP
1.37% 36 120,000 -1,000 2,979,164

Valor Futuro
Gradiente Aritmtico Vencido Creciente
Sintaxis
F=A(F/G ,i%, n) + G(F/G, i%, n)
Tasa Per. Nper Pago Gradiente VF
1.00% 12 250,000 20,000 4,535,632

Valor Futuro
Gradiente Aritmtico Vencido Decreciente
Sintaxis
F=A(F/G ,i%, n) + G(F/G, i%, n)
Tasa Per. Nper Pago Gradiente VF
1.00% 12 250,000 -20,000 1,805,620

Valor Futuro
Gradiente Aritmtico Anticipado Creciente
Sintaxis
F=A(F/G ,i%, n) + G(F/G, i%, n)
Tasa Per. Nper Pago Gradiente VF
1.00% 12 250,000 20,000 4,580,988

Valor Futuro
Gradiente Aritmtico Anticipado Decreciente
Sintaxis
F=A(F/G ,i%, n) + G(F/G, i%, n)
Tasa Per. Nper Pago Gradiente VF
1.00% 12 250,000 -20,000 1,823,676

Valor de la primera cuota

Gradiente Aritmtico Vencido Creciente dado VP
Sintaxis
(A/P, G ,i%, n)
Tasa Per. Nper VP Gradiente CUOTA
1.02% 180 224,000,000 5,000 2,411,677

Valor de la primera cuota

Gradiente Aritmtico Vencido Decreciente dado VP
Sintaxis
(A/P, G ,i%, n)
Tasa Per. Nper VP Gradiente CUOTA
1.02% 180 224,000,000 -5,000 3,046,042

Valor de la primera cuota

Gradiente Aritmtico Vencido Creciente dado VF
Sintaxis
F=A(F/G ,i%, n) + G(F/G, i%, n)
Tasa Per. Nper VF Gradiente CUOTA
4.00% 12 100,000,000 500,000 4,138,043

Valor de la primera cuota

Gradiente Aritmtico Vencido Decreciente dado VF
Sintaxis
F=A(F/G ,i%, n) + G(F/G, i%, n)
Tasa Per. Nper VF Gradiente CUOTA
4.00% 12 100,000,000 -500,000 9,172,391

Valor de la primera cuota

Gradiente Aritmtico Anticipado Creciente dado VP
Sintaxis
(A/P, G ,i%, n)
 Tasa Per. Nper VP Gradiente CUOTA
1.02% 180 224,000,000 5,000 2,384,034

Valor de la primera cuota

Gradiente Aritmtico Anticipado Decreciente dado VP
Sintaxis
(A/P, G ,i%, n)
Tasa Per. Nper VP Gradiente CUOTA
1.02% 180 224,000,000 -5,000 3,018,399

Valor de la primera cuota

Gradiente Aritmtico Anticipado Creciente dado VF
Sintaxis
F=A(F/G ,i%, n) + G(F/G, i%, n)
Tasa Per. Nper VF Gradiente CUOTA
4.00% 12 100,000,000 500,000 3,882,073

Valor de la primera cuota

Gradiente Aritmtico Anticipado Decreciente dado VF
Sintaxis
F=A(F/G ,i%, n) + G(F/G, i%, n)
Tasa Per. Nper VF Gradiente CUOTA
4.00% 12 100,000,000 -500,000 8,916,421

Valor Presente
Gradiente Aritmtico Diferido
Sintaxis
P=(P/G ,i%, r,s)
Tasa Per. Nper r s CUOTA G
2.50% 42 6 36 250,000 75,000

Valor de la primera cuota

Gradiente Aritmtico Diferido
Sintaxis
A=(A/P ,i%, r,s)
ir is n r s G
3.00% 4.00% 19 4 15 800,000
 VP
27,731,203

do

VP CUOTA
105,000,000 5,611,428
 GRADIENTE GEOMETRICO
Valor Presente de una serie
Gradiente Geomtrico Vencido Creciente
Sintaxis
(P/G, A, i%, n)
Tasa Per. Nper Pago Gradiente VP
1.50% 5 300,000 10% 1,746,962

Valor Presente de una serie

Gradiente Geomtrico Vencido Decreciente
Sintaxis
(P/G, A, i%, n)
Tasa Per. Nper Pago Gradiente VP
0.50% 7 120,000 -5% 710,450

Valor Presente de una serie

Gradiente Geomtrico Anticipado Creciente
Sintaxis
(P/G, A, i%, n)
Tasa Per. Nper Pago Gradiente VP
1.00% 12 1,250,000 5% 18,739,644

Valor Presente de una serie

Gradiente Geomtrico Anticipado Decreciente
Sintaxis
(P/G, A, i%, n)
Tasa Per. Nper Pago Gradiente VP
3.02% 28 1,500,000 -1% 25,828,735

Valor Futuro de una serie

Gradiente Geomtrico Vencido Creciente
Sintaxis
(F/G, A, i%, n)
Tasa Per. Nper Pago Gradiente VF
2.36% 12 80,000 1% 1,153,823

Valor Futuro de una serie

Gradiente Geomtrico Vencido Decreciente
Sintaxis
(F/G, A, i%, n)
Tasa Per. Nper Pago Gradiente VF
2.36% 12 80,000 -1% 1,039,388
 Valor Futuro de una serie
Gradiente Geomtrico Anticipado Creciente
Sintaxis
(F/G, A, i%, n)
Tasa Per. Nper Pago Gradiente VF
1.00% 12 1,250,000 5% 21,116,300

Valor Futuro de una serie

Gradiente Geomtrico Anticipado Decreciente
Sintaxis
(F/G, A, i%, n)
Tasa Per. Nper Pago Gradiente VF
1.00% 12 1,250,000 -5% 12,340,200

Valor de la primera cuota

Gradiente Geomtico Vencido Creciente dado VP
Sintaxis
(A/G, P ,i%, n)
Tasa Per. Nper VP Gradiente CUOTA
1.00% 15 3,000,000 5% 151,767

Valor de la primera cuota

Gradiente Geomtico Vencido Decreciente dado VP
Sintaxis
(A/G, P ,i%, n)
Tasa Per. Nper VP Gradiente CUOTA
1.00% 15 3,000,000 -5% 299,529

Valor de la primera cuota

Gradiente Geomtico Anticipado Creciente dado VP
Sintaxis
(A/G, P ,i%, n)
Tasa Per. Nper VP Gradiente CUOTA
1.00% 15 3,000,000 5% 150,265

Valor de la primera cuota

Gradiente Geomtico Anticipado Decreciente dado VP
Sintaxis
(A/G, P ,i%, n)
Tasa Per. Nper VP Gradiente CUOTA
1.00% 15 3,000,000 -5% 296,563

Valor de la primera cuota

Gradiente Geomtico Vencido Creciente dado VF
Sintaxis
(A/G, F ,i%, n)
Tasa Per. Nper VF Gradiente CUOTA
3.33% 8 20,000,000 10% 1,580,599

Valor de la primera cuota

Gradiente Geomtico Vencido Decreciente dado VF
Sintaxis
(A/G, F ,i%, n)
Tasa Per. Nper VF Gradiente CUOTA
3.33% 8 20,000,000 -10% 3,067,407

Valor de la primera cuota

Gradiente Geomtico Anticipado Creciente dado VF
Sintaxis
(A/G, F ,i%, n)
Tasa Per. Nper VF Gradiente CUOTA
3.33% 8 20,000,000 10% 1,529,662

Valor de la primera cuota

Gradiente Geomtico Anticipado Decreciente dado VF
Sintaxis
(A/G, F ,i%, n)
Tasa Per. Nper VF Gradiente CUOTA
3.33% 8 20,000,000 -10% 2,968,554

Valor Presente
Gradiente Geomtrico Diferido
Sintaxis
P=(P/k ,A, i%, r,s)
Tasa Per. Nper r s CUOTA
2.50% 21 3 18 800,000

Valor de la primera cuota

Gradiente Geomtrico Diferido
Sintaxis
A=(A/k ,P,i%, r,s)
Tasa Per. Nper r s k
10% 12 2 10 8%
ferido

k VP
2.0% 12,518,589

ota
ferido

VP CUOTA
30,000,000 4,330,684
MODELO CONVERSION DE TASAS

CALCULO TASA NOMINAL

Ingreso de datos
Tasa Efectiva Anual 20.0%
Perodo capitalizacin Semestre

RESULTADOS
Tasa Nominal Anual vencida 19.09%
Tasa peridica vencida 9.54%
Tasa peridica anticipada 8.71%
Tasa Nominal Anual anticipada 17.43%
 19.09%

EA RESULTADO
0.00% 19.09%
20.00% 0.00%
0.00% 0.00%
0.00% 0.00%
20.00%
TEA 19.09%
PERIODO (n) 1

PERIODO
 PERIODO No.
TASA TIPO CAPITALIZA PERIODOS
CION EN UN AO
Nominal Vencido Da 365
Efectiva Anticipado Mes 12
Bimestre 6
FUENTE Trimestre 4
0.00% Semestre 2
20.00% Anual 1
0.00%
0.00%

Anual
MODELO CONVERSION DE TASAS

CALCULO TASA EFECTIVA ANUA

Ingreso de datos
Tasa Nominal
Perodo capitalizacin
TIPO

RESULTADO
Tasa Efectiva Anual

PERIODO
CAPITALIZACION

Da
Mes
Bimestre
Trimestre
Semestre
Anual
SION DE TASAS

FECTIVA ANUAL
e datos
15.00%
Mes
Vencido

TADO
16.08%

TASA TIPO
Nominal Vencido
Efectiva Anticipado
No.
PERIODOS
EN UN AO
365
12
6
4
2
1
 SISTEMA DE AMORTIZACION CUOTA FIJA
ANUALIDAD
VR.CREDITO Tasa Per. Nper
FORMULA EXCEL
15,000,000 2.00% MV 12 Meses 1,418,394 1,418,394

Tabla de amortizacin
Cuota N Cuota Inters Capital Saldo Capital
0 15,000,000
1 1,418,394 300,000 1,118,394 13,881,606
2 1,418,394 277,632 1,140,762 12,740,844
3 1,418,394 254,817 1,163,577 11,577,267
4 1,418,394 231,545 1,186,849 10,390,419
5 1,418,394 207,808 1,210,586 9,179,833
6 1,418,394 183,597 1,234,797 7,945,036
7 1,418,394 158,901 1,259,493 6,685,542
8 1,418,394 133,711 1,284,683 5,400,859
9 1,418,394 108,017 1,310,377 4,090,483
10 1,418,394 81,810 1,336,584 2,753,898
11 1,418,394 55,078 1,363,316 1,390,582
12 1,418,394 27,812 1,390,582 0
Capital
 SISTEMA DE AMORTIZACION CUOTAS EXTRAORDINARIAS

VR.CREDITO Tasa Per. Nper

70,000,000 2.00% MV 36 Meses

C. Extras Tasa Per. Nper

4,000,000 26.82% EA 3 Aos

PRIMERO
Hallar el valor presente de las cuotas extras

VP
Tasa Per. Nper ANUALIDAD
FORMULA
26.82% 3 Aos 4,000,000 7,601,751

SEGUNDO
Hallar el valor a diferir

VR.DIFERIR

62,398,249

TERCERO
Construir tabla de amortizacin cuotas mensuales y cuotas anuales

ANUALIDAD
VR.CREDITO Tasa Per. Nper
FORMULA
62,398,249 2.00% MV 36 Meses 2,448,061

Tabla de amortizacin cuotas mensuales

Cuota N Cuota Inters Capital
0
1 2,448,061 1,247,965 1,200,096
2 2,448,061 1,223,963 1,224,098
3 2,448,061 1,199,481 1,248,580
4 2,448,061 1,174,509 1,273,552
5 2,448,061 1,149,038 1,299,023
6 2,448,061 1,123,058 1,325,003
7 2,448,061 1,096,558 1,351,503
8 2,448,061 1,069,528 1,378,533
9 2,448,061 1,041,957 1,406,104
10 2,448,061 1,013,835 1,434,226
11 2,448,061 985,151 1,462,911
12 2,448,061 955,892 1,492,169
13 2,448,061 926,049 1,522,012
14 2,448,061 895,609 1,552,453
 15 2,448,061 864,560 1,583,502
16 2,448,061 832,890 1,615,172
17 2,448,061 800,586 1,647,475
18 2,448,061 767,637 1,680,425
19 2,448,061 734,028 1,714,033
20 2,448,061 699,748 1,748,314
21 2,448,061 664,781 1,783,280
22 2,448,061 629,116 1,818,946
23 2,448,061 592,737 1,855,325
24 2,448,061 555,630 1,892,431
25 2,448,061 517,782 1,930,280
26 2,448,061 479,176 1,968,885
27 2,448,061 439,798 2,008,263
28 2,448,061 399,633 2,048,428
29 2,448,061 358,665 2,089,397
30 2,448,061 316,877 2,131,185
31 2,448,061 274,253 2,173,808
32 2,448,061 230,777 2,217,285
33 2,448,061 186,431 2,261,630
34 2,448,061 141,198 2,306,863
35 2,448,061 95,061 2,353,000
36 2,448,061 48,001 2,400,060

CUARTO
Construir tabla de amortizacin total (cuotas mensuales + cuotas anuales)

Tabla de amortizacin total

Cuota N Cuota Inters Capital
0
1 2,448,061 1,400,000 1,200,096
2 2,448,061 1,375,998 1,224,098
3 2,448,061 1,351,516 1,248,580
4 2,448,061 1,326,545 1,273,552
5 2,448,061 1,301,073 1,299,023
6 2,448,061 1,275,093 1,325,003
7 2,448,061 1,248,593 1,351,503
8 2,448,061 1,221,563 1,378,533
9 2,448,061 1,193,992 1,406,104
10 2,448,061 1,165,870 1,434,226
11 2,448,061 1,137,186 1,462,911
12 6,448,061 1,107,927 3,453,062
13 2,448,061 1,038,866 1,522,012
14 2,448,061 1,008,426 1,552,453
15 2,448,061 977,377 1,583,502
16 2,448,061 945,707 1,615,172
17 2,448,061 913,403 1,647,475
18 2,448,061 880,454 1,680,425
19 2,448,061 846,845 1,714,033
20 2,448,061 812,565 1,748,314
21 2,448,061 777,598 1,783,280
22 2,448,061 741,933 1,818,946
23 2,448,061 705,554 1,855,325
24 6,448,061 668,447 4,379,317
25 2,448,061 580,861 1,930,280
26 2,448,061 542,256 1,968,885
27 2,448,061 502,878 2,008,263
28 2,448,061 462,713 2,048,428
29 2,448,061 421,744 2,089,397
30 2,448,061 379,956 2,131,185
31 2,448,061 337,332 2,173,808
32 2,448,061 293,856 2,217,285
33 2,448,061 249,511 2,261,630
34 2,448,061 204,278 2,306,863
35 2,448,061 158,141 2,353,000
36 6,448,061 111,081 5,554,033
XTRAORDINARIAS

VP
EXCEL
7,601,751

cuotas anuales

ANUALIDAD
Tasa Per. Nper ANUALIDAD
EXCEL
2,448,061 26.82% 3 Aos 4,000,000

uales Tabla de amortizacin cuotas anuales

Saldo Capital Cuota N Cuota Inters
62,398,249 0
61,198,152 1
59,974,054 2
58,725,474 3
57,451,922 4
56,152,899 5
54,827,896 6
53,476,393 7
52,097,859 8
50,691,755 9
49,257,529 10
47,794,618 11
46,302,449 12 4,000,000 2,039,107
44,780,437 13
43,227,984 14
 41,644,483 15
40,029,311 16
38,381,836 17
36,701,411 18
34,987,378 19
33,239,065 20
31,455,785 21
29,636,839 22
27,781,515 23
25,889,084 24 4,000,000 1,513,114
23,958,804 25
21,989,919 26
19,981,656 27
17,933,228 28
15,843,831 29
13,712,646 30
11,538,838 31
9,321,553 32
7,059,923 33
4,753,060 34
2,400,060 35
0 36 4,000,000 846,027

ales + cuotas anuales)

Saldo Capital
70,000,000
68,799,904
67,575,805
66,327,225
65,053,673
63,754,651
62,429,647
61,078,144
59,699,610
58,293,506
56,859,280
55,396,369
51,943,308
50,421,296
48,868,843
47,285,341
45,670,170
44,022,695
42,342,270
40,628,237
38,879,923
37,096,643
35,277,698
33,422,373
29,043,056
27,112,777
25,143,891
23,135,628
21,087,200
18,997,804
16,866,619
14,692,810
12,475,526
10,213,896
7,907,033
5,554,033
0
in cuotas anuales
Capital Saldo Capital
7,601,751
7,601,751
7,601,751
7,601,751
7,601,751
7,601,751
7,601,751
7,601,751
7,601,751
7,601,751
7,601,751
7,601,751
1,960,893 5,640,859
5,640,859
5,640,859
 5,640,859
5,640,859
5,640,859
5,640,859
5,640,859
5,640,859
5,640,859
5,640,859
5,640,859
2,486,886 3,153,973
3,153,973
3,153,973
3,153,973
3,153,973
3,153,973
3,153,973
3,153,973
3,153,973
3,153,973
3,153,973
3,153,973
3,153,973 0
 SISTEMA DE AMORTIZACION ANUALIDAD DIFERIDA

Vr. Prstamo 12,000,000

Plazo total 36 MESES
Periodo gracia 12 MESES
Nmero pagos 24 MESES
Tasa nominal 21% NMV
TPM 1.8% MV

METODO 1
Hallar el valor de la anualidad por frmula

Valor de la anualidad vencida diferida

conociendo el valor presente
con perodo de gracia (r) y perodo de pagos (s)
Tasa Per. r s VP ANUALIDAD
1.8% MV 12 24 12,000,000 759,340

METODO 2
Hallar el valor futuro de $50.000.000 en el perodo 12

Tasa Per. n VP VF
1.8% MV 12 50,000,000 61,571,966

A partir de este valor hallar el valor de la anualidad

Valor de la anualidad vencida
conociendo el valor presente ANUALIDAD
Tasa Per. Nper VP
FORMULA EXCEL
1.75% 24 61,571,966 3,163,916 3,163,916

Tabla de amortizacin anualidad diferida

Cuota N Cuota Inters Capital Saldo Capital
0 12,000,000
1 210,000 12,210,000
2 213,675 12,423,675
PERIODO DE GRACIA

PERIODO DE GRACIA

3 217,414 12,641,089
4 221,219 12,862,308
5 225,090 13,087,399
6 229,029 13,316,428
7 233,037 13,549,466
8 237,116 13,786,581
9 241,265 14,027,847
10 245,487 14,273,334
 PERIOD

PERIOD
11 249,783 14,523,117
12 254,155 14,777,272
13 759,340 258,602 500,737 14,276,534
14 759,340 249,839 509,500 13,767,034
15 759,340 240,923 518,417 13,248,617
16 759,340 231,851 527,489 12,721,128
17 759,340 222,620 536,720 12,184,408
18 759,340 213,227 546,113 11,638,296
19 759,340 203,670 555,670 11,082,626
20 759,340 193,946 565,394 10,517,232
21 759,340 184,052 575,288 9,941,944
22 759,340 173,984 585,356 9,356,589
23 759,340 163,740 595,599 8,760,989
24 759,340 153,317 606,022 8,154,967
25 759,340 142,712 616,628 7,538,339
26 759,340 131,921 627,419 6,910,920
27 759,340 120,941 638,399 6,272,522
28 759,340 109,769 649,571 5,622,951
29 759,340 98,402 660,938 4,962,013
30 759,340 86,835 672,505 4,289,508
31 759,340 75,066 684,273 3,605,235
32 759,340 63,092 696,248 2,908,987
33 759,340 50,907 708,432 2,200,554
34 759,340 38,510 720,830 1,479,724
35 759,340 25,895 733,445 746,280
36 759,340 13,060 746,280 0
 SISTEMA DE AMORTIZACION GRADIENTE ARITMETICO

Vr. Prstamo 224,000,000

Plazo total 180 MESES
Gradiente 5,000
Tasa inters 1.02% MV

Valor de la primera cuota

Gradiente Aritmtico Vencido Creciente dado VP
Tasa Per. Nper VP Gradiente 1a CUOTA
1.02% 180 224,000,000 5,000 2,412,328

Tabla de amortizacin gradiente aritmtico

Cuota N Cuota Inters Capital Saldo Capital
0 224,000,000
1 2,412,328 2,293,053 119,275 223,880,725
2 2,417,328 2,291,832 125,496 223,755,230
3 2,422,328 2,290,547 131,780 223,623,450
4 2,427,328 2,289,198 138,129 223,485,321
5 2,432,328 2,287,784 144,543 223,340,777
6 2,437,328 2,286,305 151,023 223,189,754
7 2,442,328 2,284,759 157,569 223,032,186
8 2,447,328 2,283,146 164,182 222,868,004
9 2,452,328 2,281,465 170,863 222,697,141
10 2,457,328 2,279,716 177,612 222,519,529
11 2,462,328 2,277,898 184,430 222,335,100
12 2,467,328 2,276,010 191,318 222,143,782
13 2,472,328 2,274,051 198,276 221,945,505
14 2,477,328 2,272,022 205,306 221,740,199
15 2,482,328 2,269,920 212,408 221,527,792
16 2,487,328 2,267,746 219,582 221,308,210
17 2,492,328 2,265,498 226,830 221,081,380
18 2,497,328 2,263,176 234,152 220,847,228
19 2,502,328 2,260,779 241,549 220,605,679
20 2,507,328 2,258,306 249,022 220,356,657
21 2,512,328 2,255,757 256,571 220,100,086
22 2,517,328 2,253,130 264,197 219,835,889
23 2,522,328 2,250,426 271,902 219,563,987
24 2,527,328 2,247,642 279,685 219,284,302
25 2,532,328 2,244,779 287,548 218,996,753
26 2,537,328 2,241,836 295,492 218,701,261
27 2,542,328 2,238,811 303,517 218,397,744
28 2,547,328 2,235,704 311,624 218,086,120
29 2,552,328 2,232,514 319,814 217,766,306
30 2,557,328 2,229,240 328,088 217,438,219
31 2,562,328 2,225,881 336,446 217,101,772
32 2,567,328 2,222,437 344,891 216,756,882
33 2,572,328 2,218,906 353,421 216,403,460
34 2,577,328 2,215,289 362,039 216,041,421
35 2,582,328 2,211,582 370,745 215,670,676
36 2,587,328 2,207,787 379,541 215,291,135
37 2,592,328 2,203,902 388,426 214,902,710
38 2,597,328 2,199,926 397,402 214,505,308
39 2,602,328 2,195,857 406,470 214,098,837
40 2,607,328 2,191,696 415,631 213,683,206
41 2,612,328 2,187,442 424,886 213,258,320
42 2,617,328 2,183,092 434,235 212,824,085
43 2,622,328 2,178,647 443,681 212,380,404
44 2,627,328 2,174,105 453,223 211,927,182
45 2,632,328 2,169,466 462,862 211,464,320
46 2,637,328 2,164,727 472,600 210,991,719
47 2,642,328 2,159,889 482,438 210,509,281
48 2,647,328 2,154,951 492,377 210,016,904
49 2,652,328 2,149,910 502,417 209,514,487
50 2,657,328 2,144,767 512,560 209,001,926
51 2,662,328 2,139,520 522,807 208,479,119
52 2,667,328 2,134,168 533,159 207,945,960
53 2,672,328 2,128,710 543,617 207,402,342
54 2,677,328 2,123,145 554,182 206,848,160
55 2,682,328 2,117,472 564,855 206,283,305
56 2,687,328 2,111,690 575,638 205,707,667
57 2,692,328 2,105,797 586,530 205,121,137
58 2,697,328 2,099,793 597,534 204,523,603
59 2,702,328 2,093,676 608,651 203,914,951
60 2,707,328 2,087,446 619,882 203,295,069
61 2,712,328 2,081,100 631,228 202,663,842
62 2,717,328 2,074,638 642,689 202,021,152
63 2,722,328 2,068,059 654,269 201,366,884
64 2,727,328 2,061,361 665,966 200,700,917
65 2,732,328 2,054,544 677,784 200,023,134
66 2,737,328 2,047,606 689,722 199,333,412
67 2,742,328 2,040,545 701,783 198,631,629
68 2,747,328 2,033,361 713,967 197,917,663
69 2,752,328 2,026,052 726,275 197,191,387
70 2,757,328 2,018,618 738,710 196,452,677
71 2,762,328 2,011,055 751,272 195,701,405
72 2,767,328 2,003,365 763,963 194,937,442
73 2,772,328 1,995,544 776,783 194,160,659
74 2,777,328 1,987,592 789,735 193,370,924
75 2,782,328 1,979,508 802,820 192,568,104
76 2,787,328 1,971,290 816,038 191,752,066
77 2,792,328 1,962,936 829,392 190,922,674
78 2,797,328 1,954,446 842,882 190,079,792
79 2,802,328 1,945,817 856,510 189,223,282
80 2,807,328 1,937,049 870,278 188,353,004
 81 2,812,328 1,928,140 884,187 187,468,816
82 2,817,328 1,919,089 898,239 186,570,578
83 2,822,328 1,909,894 912,434 185,658,144
84 2,827,328 1,900,554 926,774 184,731,370
85 2,832,328 1,891,066 941,261 183,790,109
86 2,837,328 1,881,431 955,897 182,834,212
87 2,842,328 1,871,645 970,682 181,863,529
88 2,847,328 1,861,709 985,619 180,877,910
89 2,852,328 1,851,619 1,000,709 179,877,202
90 2,857,328 1,841,375 1,015,953 178,861,249
91 2,862,328 1,830,975 1,031,353 177,829,896
92 2,867,328 1,820,417 1,046,911 176,782,986
93 2,872,328 1,809,700 1,062,628 175,720,358
94 2,877,328 1,798,822 1,078,506 174,641,852
95 2,882,328 1,787,781 1,094,546 173,547,306
96 2,887,328 1,776,577 1,110,751 172,436,555
97 2,892,328 1,765,206 1,127,121 171,309,434
98 2,897,328 1,753,668 1,143,660 170,165,774
99 2,902,328 1,741,961 1,160,367 169,005,407
100 2,907,328 1,730,082 1,177,246 167,828,161
101 2,912,328 1,718,031 1,194,297 166,633,864
102 2,917,328 1,705,805 1,211,523 165,422,342
103 2,922,328 1,693,403 1,228,925 164,193,417
104 2,927,328 1,680,822 1,246,505 162,946,911
105 2,932,328 1,668,062 1,264,265 161,682,646
106 2,937,328 1,655,120 1,282,208 160,400,438
107 2,942,328 1,641,994 1,300,333 159,100,105
108 2,947,328 1,628,683 1,318,645 157,781,460
109 2,952,328 1,615,184 1,337,143 156,444,317
110 2,957,328 1,601,496 1,355,832 155,088,486
111 2,962,328 1,587,617 1,374,711 153,713,775
112 2,967,328 1,573,544 1,393,784 152,319,991
113 2,972,328 1,559,276 1,413,052 150,906,939
114 2,977,328 1,544,811 1,432,517 149,474,422
115 2,982,328 1,530,146 1,452,181 148,022,241
116 2,987,328 1,515,281 1,472,047 146,550,194
117 2,992,328 1,500,212 1,492,116 145,058,078
118 2,997,328 1,484,937 1,512,391 143,545,687
119 3,002,328 1,469,455 1,532,873 142,012,815
120 3,007,328 1,453,763 1,553,565 140,459,250
121 3,012,328 1,437,859 1,574,468 138,884,782
122 3,017,328 1,421,742 1,595,586 137,289,196
123 3,022,328 1,405,408 1,616,920 135,672,277
124 3,027,328 1,388,856 1,638,472 134,033,805
125 3,032,328 1,372,083 1,660,244 132,373,560
126 3,037,328 1,355,088 1,682,240 130,691,320
127 3,042,328 1,337,867 1,704,461 128,986,859
128 3,047,328 1,320,418 1,726,909 127,259,950
129 3,052,328 1,302,740 1,749,587 125,510,363
130 3,057,328 1,284,830 1,772,498 123,737,865
131 3,062,328 1,266,685 1,795,642 121,942,223
132 3,067,328 1,248,304 1,819,024 120,123,199
133 3,072,328 1,229,682 1,842,645 118,280,554
134 3,077,328 1,210,820 1,866,508 116,414,046
135 3,082,328 1,191,712 1,890,615 114,523,430
136 3,087,328 1,172,359 1,914,969 112,608,461
137 3,092,328 1,152,755 1,939,572 110,668,889
138 3,097,328 1,132,900 1,964,427 108,704,461
139 3,102,328 1,112,791 1,989,537 106,714,924
140 3,107,328 1,092,424 2,014,904 104,700,021
141 3,112,328 1,071,798 2,040,530 102,659,491
142 3,117,328 1,050,909 2,066,418 100,593,073
143 3,122,328 1,029,756 2,092,572 98,500,501
144 3,127,328 1,008,334 2,118,993 96,381,507
145 3,132,328 986,642 2,145,685 94,235,822
146 3,137,328 964,677 2,172,650 92,063,172
147 3,142,328 942,436 2,199,891 89,863,280
148 3,147,328 919,916 2,227,411 87,635,869
149 3,152,328 897,115 2,255,213 85,380,656
150 3,157,328 874,028 2,283,299 83,097,357
151 3,162,328 850,655 2,311,673 80,785,684
152 3,167,328 826,990 2,340,337 78,445,347
153 3,172,328 803,033 2,369,295 76,076,052
154 3,177,328 778,779 2,398,549 73,677,503
155 3,182,328 754,225 2,428,103 71,249,401
156 3,187,328 729,369 2,457,959 68,791,442
157 3,192,328 704,207 2,488,120 66,303,322
158 3,197,328 678,737 2,518,591 63,784,731
159 3,202,328 652,954 2,549,373 61,235,358
160 3,207,328 626,857 2,580,471 58,654,887
161 3,212,328 600,441 2,611,887 56,043,000
162 3,217,328 573,703 2,643,624 53,399,376
163 3,222,328 546,641 2,675,687 50,723,689
164 3,227,328 519,251 2,708,077 48,015,612
165 3,232,328 491,528 2,740,799 45,274,813
166 3,237,328 463,471 2,773,856 42,500,956
167 3,242,328 435,076 2,807,252 39,693,704
168 3,247,328 406,338 2,840,989 36,852,715
169 3,252,328 377,256 2,875,072 33,977,643
170 3,257,328 347,824 2,909,504 31,068,139
171 3,262,328 318,040 2,944,288 28,123,851
172 3,267,328 287,899 2,979,428 25,144,423
173 3,272,328 257,400 3,014,928 22,129,495
174 3,277,328 226,536 3,050,791 19,078,703
175 3,282,328 195,306 3,087,022 15,991,682
176 3,287,328 163,704 3,123,623 12,868,058
177 3,292,328 131,728 3,160,599 9,707,459
178 3,297,328 99,374 3,197,954 6,509,505
179 3,302,328 66,637 3,235,691 3,273,814
180 3,307,328 33,514 3,273,814 0
METICO
 SISTEMA DE AMORTIZACION GRADIENTE GEOMETRICO

Vr. Prstamo 350,000,000

Plazo 7 AOS
Trimestres 28 TRIMESTES
Gradiente -3%
Tasa 3.02% TV

Valor de la primera cuota

Gradiente Geomtico Vencido Creciente dado VP
Tasa Per. Nper VP Gradiente 1a CUOTA
3.02% 28 350,000,000 -3% 25,347,229

Tabla de amortizacin gradiente geomtrico

Cuota N Cuota Inters Capital Saldo Capital
0 350,000,000
1 25,347,229 10,573,827 14,773,402 335,226,598
2 24,637,507 10,127,509 14,509,998 320,716,600
3 23,947,657 9,689,149 14,258,508 306,458,092
4 23,277,122 9,258,386 14,018,737 292,439,355
5 22,625,363 8,834,867 13,790,496 278,648,859
6 21,991,853 8,418,243 13,573,610 265,075,249
7 21,376,081 8,008,171 13,367,910 251,707,339
8 20,777,551 7,604,314 13,173,236 238,534,103
9 20,195,779 7,206,338 12,989,441 225,544,662
10 19,630,297 6,813,915 12,816,382 212,728,280
11 19,080,649 6,426,720 12,653,929 200,074,351
12 18,546,391 6,044,433 12,501,958 187,572,394
13 18,027,092 5,666,738 12,360,354 175,212,039
14 17,522,333 5,293,320 12,229,014 162,983,026
15 17,031,708 4,923,870 12,107,838 150,875,187
16 16,554,820 4,558,081 11,996,740 138,878,448
17 16,091,285 4,195,648 11,895,637 126,982,810
18 15,640,729 3,836,270 11,804,460 115,178,350
19 15,202,789 3,479,646 11,723,143 103,455,207
20 14,777,111 3,125,479 11,651,632 91,803,575
21 14,363,352 2,773,472 11,589,880 80,213,695
22 13,961,178 2,423,331 11,537,847 68,675,848
23 13,570,265 2,074,762 11,495,503 57,180,345
24 13,190,297 1,727,472 11,462,826 45,717,519
25 12,820,969 1,381,169 11,439,800 34,277,719
26 12,461,982 1,035,562 11,426,420 22,851,299
27 12,113,046 690,359 11,422,687 11,428,612
28 11,773,881 345,269 11,428,612 0
TRICO
 INDICADORES DE CONVENIENCIA

Ao Ingresos Egresos Flujo Neto VP Egresos VF Ingresos

0 12,000,000 (12,000,000) (12,000,000)
1 2,350,000 500,000 1,850,000 2,440,417
2 2,350,000 500,000 1,850,000 2,379,734
3 2,350,000 1,250,000 1,100,000 1,379,792
4 2,350,000 650,000 1,700,000 2,079,382
5 3,300,000 650,000 2,650,000 3,160,789
6 3,300,000 4,500,000 (1,200,000) (1,117,116)
7 3,300,000 750,000 2,550,000 2,892,135
8 4,350,000 750,000 3,600,000 3,981,486
9 4,350,000 2,500,000 1,850,000 1,995,165
10 3,850,000 850,000 3,000,000 3,154,951
11 1,000,000 850,000 150,000 153,825
12 10,000,000 10,000,000 10,000,000
TOTALES 13,117,116 33,617,675

Tasa descuento 3%
Tasa de financiacin 1.20%
Tasa de Reinversin 2.55%

INDICADORES
SIGLA RESULTADO FORMULA
VPN 11,025,506 +VNA(D18;D3:$D$14)+$D$2
TIR 13.06% +TIR(D2:D14)
TIRM 8.16% +TIRM(D2:D14;$D$19;$D$20)
TIRM 8.16% +(F15/E15)^(1/A14)-1
CAUE 1,107,645 +PAGO($D$18;A14;-D24)
B/C 1.47 +(VNA($D$25;B8:B19)+B7)/(VNA($D$25;C8:
NVENIENCIA

ANALISIS SENSIBILIDAD
TIO 11,025,506 Sensibilidad del VPN ante vari
2.0%
2.5% 12
3.0% 10
3.5%
8
4.0%
4.5% 6
Valor VPN
5.0% 4
5.5%
2
6.0%
6.5% 0
2.0% 2.5% 3.0% 3.5% 4.0% 4.5% 5.0% 5.5% 6.0% 6.5% 7
7.0%
TIO

ORES
FORMULA
4)+$D$2

19;$D$20)
-1
D24)
9)+B7)/(VNA($D$25;C8:C18)+C7)
dad del VPN ante variaciones en la TIO

3.5% 4.0% 4.5% 5.0% 5.5% 6.0% 6.5% 7.0%

TIO