Professional Documents
Culture Documents
El presente trabajo tiene como propsito principal poner en practica todo lo desarrollado durante el curs
Matemtica Financiera. El tutor ha establecido su desarrollo por medio de una gua de actividades en la
se solicita desarrollar un caso en el que se expone una situacin financiera, para ello se debe tener en c
los siguientes lineamientos:
Realizar dos tablas de amortizacin y realizar su respectivo analisis
Realizar tres flujos de caja anilizarlos y calcular la TIR y el VNA
$ 120,000,000.00
0.95%
20
PERIODO
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
0
0
0
0
0
0
Periodos de Gracia
Periodos totales
4
24
AMORTIZACIN
0
0
0
0
5476409.1918103
5528435.0791325
5580955.2123842
5633974.2869019
5687497.0426274
5741528.2645324
5796072.7830455
5851135.4744844
5906721.261492
5962835.1134762
6019482.0470542
6076667.1265012
6134395.464203
6192672.2211129
6251502.6072135
6310891.881982
6370845.3548608
6431368.385732
6492466.3853964
6554144.8160577
0
0
0
0
0
0
SALDO FINAL
$ 120,000,000.00
$ 120,000,000.00
$ 120,000,000.00
$ 120,000,000.00
$ 114,523,590.81
$ 108,995,155.73
$ 103,414,200.52
$ 97,780,226.23
$ 92,092,729.19
$ 86,351,200.92
$ 80,555,128.14
$ 74,703,992.67
$ 68,797,271.40
$ 62,834,436.29
$ 56,814,954.24
$ 50,738,287.12
$ 44,603,891.65
$ 38,411,219.43
$ 32,159,716.82
$ 25,848,824.94
$ 19,477,979.59
$ 13,046,611.20
$ 6,554,144.82
$ 0.00
$ 0.00
$ 0.00
$ 0.00
$ 0.00
$ 0.00
$ 0.00
$ 120,000,000.00
0.95%
20
PERIODO
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
0
0
0
0
0
SALDO INICIAL
$ 120,000,000.00
$ 121,140,000.00
$ 122,290,830.00
$ 123,452,592.89
$ 124,625,392.52
$ 118,937,895.47
$ 113,196,367.21
$ 107,400,294.43
$ 101,549,158.95
$ 95,642,437.69
$ 89,679,602.58
$ 83,660,120.53
$ 77,583,453.40
$ 71,449,057.94
$ 65,256,385.72
$ 59,004,883.11
$ 52,693,991.23
$ 46,323,145.87
$ 39,891,777.49
$ 33,399,311.10
$ 26,845,166.29
$ 20,228,757.10
$ 13,549,492.02
$ 6,806,773.92
$ 0.00
$ 0.00
$ 0.00
$ 0.00
$ 0.00
Periodo Muerto
Periodos totales
Capital Amortizar
CUOTA
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$ 0.00
$ 0.00
$ 0.00
$ 0.00
6,871,438.27
6,871,438.27
6,871,438.27
6,871,438.27
6,871,438.27
6,871,438.27
6,871,438.27
6,871,438.27
6,871,438.27
6,871,438.27
6,871,438.27
6,871,438.27
6,871,438.27
6,871,438.27
6,871,438.27
6,871,438.27
6,871,438.27
6,871,438.27
6,871,438.27
6,871,438.27
$ 0.00
$ 0.00
$ 0.00
$ 0.00
$ 0.00
INTERESES
$ 1,140,000.00
$ 1,150,830.00
$ 1,161,762.89
$ 1,172,799.63
$ 1,183,941.23
$ 1,129,910.01
$ 1,075,365.49
$ 1,020,302.80
$ 964,717.01
$ 908,603.16
$ 851,956.22
$ 794,771.15
$ 737,042.81
$ 678,766.05
$ 619,935.66
$ 560,546.39
$ 500,592.92
$ 440,069.89
$ 378,971.89
$ 317,293.46
$ 255,029.08
$ 192,173.19
$ 128,720.17
$ 64,664.35
$ 0.00
$ 0.00
$ 0.00
$ 0.00
$ 0.00
4
24
$ 124,625,392.52
AMORTIZACIN
($ 1,140,000.00)
($ 1,150,830.00)
($ 1,161,762.89)
($ 1,172,799.63)
$ 5,687,497.04
$ 5,741,528.26
$ 5,796,072.78
$ 5,851,135.47
$ 5,906,721.26
$ 5,962,835.11
$ 6,019,482.05
$ 6,076,667.13
$ 6,134,395.46
$ 6,192,672.22
$ 6,251,502.61
$ 6,310,891.88
$ 6,370,845.35
$ 6,431,368.39
$ 6,492,466.39
$ 6,554,144.82
$ 6,616,409.19
$ 6,679,265.08
$ 6,742,718.10
$ 6,806,773.92
$ 0.00
$ 0.00
$ 0.00
$ 0.00
$ 0.00
SALDO FINAL
$ 121,140,000.00
$ 122,290,830.00
$ 123,452,592.89
$ 124,625,392.52
$ 118,937,895.47
$ 113,196,367.21
$ 107,400,294.43
$ 101,549,158.95
$ 95,642,437.69
$ 89,679,602.58
$ 83,660,120.53
$ 77,583,453.40
$ 71,449,057.94
$ 65,256,385.72
$ 59,004,883.11
$ 52,693,991.23
$ 46,323,145.87
$ 39,891,777.49
$ 33,399,311.10
$ 26,845,166.29
$ 20,228,757.10
$ 13,549,492.02
$ 6,806,773.92
$ 0.00
$ 0.00
$ 0.00
$ 0.00
$ 0.00
$ 0.00
VALOR
$1,145,155,132.80
$301,290,462.36
$843,864,670.44
$216,894,506.40
$626,970,164.04
$16,888,183.84
$610,081,980.20
$152,520,495.05
$457,561,485.15
VALOR
$1,145,155,132.80
$301,290,462.36
$843,864,670.44
$216,894,506.40
$626,970,164.04
$17,428,765.43
$609,541,398.61
$152,385,349.65
$457,156,048.96
MORTIZACIN
nalizados el que ms
tereses con cuota fija
odo muerto. El periodo
de periodo muerto que
9. Por tal motivo se le
Esperado
$
$
$
$
$
1230
360,000.00
225,000.00
140,000,000.00
2,000,000.00
200,000,000.00
13%
Aos
Rubros
Ingresos
1
$ 0.00
Ventas
Valor Residual
Egresos
Costo Fijo
Costo Variable
Inversin
Flujo Neto
$ 442,800,000.00
$ 442,800,000.00
$ 200,000,000.00
$ 416,750,000.00
$ 140,000,000.00
$ 276,750,000.00
$ 200,000,000.00
-$ 200,000,000.00
$ 26,050,000.00
Aos
2
$ 26,050,000.00
$ 26,050,000.00
$ 26,050,000.00
$ 28,050,000.00
$
$
$
$
$
Esperado
2525
378,000.00
225,000.00
140,000,000.00
2,000,000.00
200,000,000.00
13%
Aos
Rubros
Ingresos
1
$ 0.00
Ventas
Valor Residual
Egresos
$ 954,450,000.00 $ 954,450,000.00
$ 954,450,000.00 $ 954,450,000.00
$ 200,000,000.00
$ 708,125,000.00 $ 708,125,000.00
Costo Fijo
Costo Variable
Inversin
$ 200,000,000.00
$ 140,000,000.00 $ 140,000,000.00
$ 568,125,000.00 $ 568,125,000.00
Flujo Neto
$ 246,325,000.00 $ 246,325,000.00
-$ 200,000,000.00
Indicadores Valores
VAN
$ 667,467,510.37
TIR
121%
Aos
3
$
$
$
$
$
Esperado
3250
405,000.00
270,000.00
140,000,000.00
2,000,000.00
200,000,000.00
13%
Aos
Rubros
Ingresos
Ventas
Valor Residual
Egresos
$ 1,316,250,000.00 $ 1,316,250,000.00
Costo Fijo
Costo Variable
Inversin
$ 200,000,000.00
$ 140,000,000.00
$ 877,500,000.00
$ 140,000,000.00
$ 877,500,000.00
Flujo Neto
$ 298,750,000.00
$ 298,750,000.00
-$ 200,000,000.00
Indicadores Valores
VAN
$ 851,858,359.26
TIR
148%
Aos
3
$ 140,000,000.00
$ 877,500,000.00
$ 140,000,000.00
$ 877,500,000.00
$ 298,750,000.00
$ 298,750,000.00
$ 300,750,000.00
Volumen Ventas en
Precio
unidades
Unitario
1230 $ 360,000.00
2525 $ 378,000.00
3250 $ 405,000.00
RA ESTIMACION DE INDICADORES
Jusy Mara Naranjo Artunduaga
VPN
($ 107,290,605.76)
$ 667,467,510.37
$ 851,858,359.26
TIR
-12%
121%
148%
Verificando cada uno de los tres y al realizar los calculos de la TIR y el VNA, la mejor opcion para inve
caso tres nivel alto, ya que se obtiene una tasa de retorno del 148%, mucho superior que una tasa d
bancaria y traeria un valor presente neto de $851.858.359.26 al peor inversin sera la del caso un
nos traeria un Valor neto negativo y una tasa de retorno negativo.