EJERCICIO 5

TASA 18%

FLUJO A

NPR INVERSION INICIAL INGRESOS VPN0 -$ 3,200,000.00 -$ 3,200,000.00 1 $ 630,000.00 $ 533,898.31 2 $ 680,000.00 $ 488,365.41 3 $ 760,000.00 $ 462,559.46 4 $ 810,000.00 $ 417,788.99 5 $ 900,000.00 $ 393,398.29 6 $ 950,000.00 $ 351,909.96 7 $ 1,050,000.00 $ 329,621.28 8 $ 1,300,000.00 $ 345,849.61 9 $ 1,500,000.00 $ 338,184.11

10 $ 1,800,000.00 $ 343,916.04

VPN TOTAL $ 805,491.47

TASA 18%FLUJO B

NPR INVERSION INICIAL INGRESOS VPN0 3200000.001 250000 211,864.41 2 350000 251,364.55 3 550000 334,746.98 4 850000 438,420.54 5 1140000 498,304.51 6 1200000 444,517.85 7 1300000 408,102.54 8 1600000 425,661.06 9 1800000 405,820.93

10 2300000 439,448.27

VPN TOTAL 658251.64

EJERCICIO 3 TASA 18%NPR FLUJO VP

0 3200000.00 3200000.001 550000.00 466101.692 650000.00 466,819.883 760000.00 462,559.46

4 810000.00 417,788.995 900000.00 393,398.296 950000.00 351,909.967 1050000.00 329,621.288 1300000.00 345,849.61

VPN 34049.18

TASA 14%

NPR FLUJO VPN0 3200000.00 3200000.001 550000.00 482,456.142 650000.00 500,153.893 760000.00 512,978.354 810000.00 479,585.025 900000.00 467,431.806 950000.00 432,807.227 1050000.00 419,619.198 1300000.00 455,726.77

VPN 550758.39

TASA 17%

NPR FLUJO VPN0 3200000.00 3200000.001 550000.00 470,085.472 650000.00 474,833.813 760000.00 474,521.624 810000.00 432,256.545 900000.00 410,500.046 950000.00 370,346.667 1050000.00 349,855.158 1300000.00 370,217.09

VPN 152616.37

TASA 15%NPR FLUJO VPN

0 3200000.00 3200000.001 550000.00 478,260.872 650000.00 491,493.383 760000.00 499,712.34

4 810000.00 463,120.135 900000.00 447,459.066 950000.00 410,711.227 1050000.00 394,733.898 1300000.00 424,972.31

VPN 410463.19

TASA 20%NPR FLUJO VPN

0 3200000.00 3200000.001 550000.00 458,333.332 650000.00 451,388.893 760000.00 439,814.814 810000.00 390,625.005 900000.00 361,689.816 950000.00 318,153.087 1050000.00 293,035.738 1300000.00 302,338.45

VPN 184,620.89

EJERCICIO 1

PRESENTE $ 100,000,000.00TASA 20% ANUAL 1.5309% mesualPAGO MEN. $ 2,559,588.10NPR 5 AÑOS 60 MESES

NPR DEUDA PAGO DEUDA TOTAL0 $ 100,000,000.00 $ 100,000,000.001 $ 101,530,947.05 $ 2,559,588.10 $ 98,971,358.95

2 $ 100,486,558.05 $ 2,559,588.10 $ 97,926,969.953 $ 99,426,180.00 $ 2,559,588.10 $ 96,866,591.904 $ 98,349,568.13 $ 2,559,588.10 $ 95,789,980.035 $ 97,256,473.91 $ 2,559,588.10 $ 94,696,885.806 $ 96,146,644.98 $ 2,559,588.10 $ 93,587,056.887 $ 95,019,825.17 $ 2,559,588.10 $ 92,460,237.078 $ 93,875,754.34 $ 2,559,588.10 $ 91,316,166.249 $ 92,714,168.39 $ 2,559,588.10 $ 90,154,580.29

10 $ 91,534,799.18 $ 2,559,588.10 $ 88,975,211.0711 $ 90,337,374.44 $ 2,559,588.10 $ 87,777,786.3412 $ 89,121,617.77 $ 2,559,588.10 $ 86,562,029.6713 $ 87,887,248.51 $ 2,559,588.10 $ 85,327,660.4114 $ 86,633,981.71 $ 2,559,588.10 $ 84,074,393.6115 $ 85,361,528.06 $ 2,559,588.10 $ 82,801,939.9516 $ 84,069,593.81 $ 2,559,588.10 $ 81,510,005.7117 $ 82,757,880.74 $ 2,559,588.10 $ 80,198,292.6418 $ 81,426,086.03 $ 2,559,588.10 $ 78,866,497.9319 $ 80,073,902.25 $ 2,559,588.10 $ 77,514,314.1520 $ 78,701,017.26 $ 2,559,588.10 $ 76,141,429.1621 $ 77,307,114.12 $ 2,559,588.10 $ 74,747,526.0222 $ 75,891,871.06 $ 2,559,588.10 $ 73,332,282.9623 $ 74,454,961.38 $ 2,559,588.10 $ 71,895,373.2824 $ 72,996,053.38 $ 2,559,588.10 $ 70,436,465.2825 $ 71,514,810.26 $ 2,559,588.10 $ 68,955,222.1626 $ 70,010,890.10 $ 2,559,588.10 $ 67,451,302.0027 $ 68,483,945.72 $ 2,559,588.10 $ 65,924,357.6228 $ 66,933,624.62 $ 2,559,588.10 $ 64,374,036.5229 $ 65,359,568.94 $ 2,559,588.10 $ 62,799,980.8330 $ 63,761,415.29 $ 2,559,588.10 $ 61,201,827.1931 $ 62,138,794.75 $ 2,559,588.10 $ 59,579,206.6532 $ 60,491,332.76 $ 2,559,588.10 $ 57,931,744.6633 $ 58,818,648.99 $ 2,559,588.10 $ 56,259,060.8934 $ 57,120,357.33 $ 2,559,588.10 $ 54,560,769.2235 $ 55,396,065.71 $ 2,559,588.10 $ 52,836,477.6136 $ 53,645,376.10 $ 2,559,588.10 $ 51,085,788.0037 $ 51,867,884.37 $ 2,559,588.10 $ 49,308,296.2738 $ 50,063,180.17 $ 2,559,588.10 $ 47,503,592.0739 $ 48,230,846.91 $ 2,559,588.10 $ 45,671,258.8140 $ 46,370,461.60 $ 2,559,588.10 $ 43,810,873.5041 $ 44,481,594.77 $ 2,559,588.10 $ 41,922,006.6742 $ 42,563,810.40 $ 2,559,588.10 $ 40,004,222.3043 $ 40,616,665.76 $ 2,559,588.10 $ 38,057,077.6544 $ 38,639,711.36 $ 2,559,588.10 $ 36,080,123.2645 $ 36,632,490.84 $ 2,559,588.10 $ 34,072,902.7446 $ 34,594,540.84 $ 2,559,588.10 $ 32,034,952.7447 $ 32,525,390.90 $ 2,559,588.10 $ 29,965,802.8048 $ 30,424,563.38 $ 2,559,588.10 $ 27,864,975.2749 $ 28,291,573.29 $ 2,559,588.10 $ 25,731,985.19

50 $ 26,125,928.26 $ 2,559,588.10 $ 23,566,340.1651 $ 23,927,128.35 $ 2,559,588.10 $ 21,367,540.2452 $ 21,694,665.97 $ 2,559,588.10 $ 19,135,077.8753 $ 19,428,025.78 $ 2,559,588.10 $ 16,868,437.6854 $ 17,126,684.53 $ 2,559,588.10 $ 14,567,096.4355 $ 14,790,110.96 $ 2,559,588.10 $ 12,230,522.8656 $ 12,417,765.69 $ 2,559,588.10 $ 9,858,177.5857 $ 10,009,101.06 $ 2,559,588.10 $ 7,449,512.9658 $ 7,563,561.06 $ 2,559,588.10 $ 5,003,972.9659 $ 5,080,581.13 $ 2,559,588.10 $ 2,520,993.0360 $ 2,559,588.10 $ 2,559,588.10 $ 0.00

PRESENTE 68,955,222.16TASA 18% ANUAL 1.39% MENSUALPAGO M. 1719909.06TASA 59 MESES

NPR DEUDA PAGO DEUDA TOTAL0 68,955,222.16 0 68,955,222.161 69,912,901.96 1719909.06 68,192,992.902 69,140,086.54 1719909.06 67,420,177.483 68,356,537.92 1719909.06 66,636,628.864 67,562,107.04 1719909.06 65,842,197.985 66,756,642.76 1719909.06 65,036,733.716 65,939,991.85 1719909.06 64,220,082.807 65,111,998.95 1719909.06 63,392,089.898 64,272,506.51 1719909.06 62,552,597.469 63,421,354.85 1719909.06 61,701,445.79

10 62,558,382.03 1719909.06 60,838,472.9711 61,683,423.86 1719909.06 59,963,514.8112 60,796,313.91 1719909.06 59,076,404.8513 59,896,883.38 1719909.06 58,176,974.3314 58,984,961.18 1719909.06 57,265,052.1315 58,060,373.81 1719909.06 56,340,464.7616 57,122,945.38 1719909.06 55,403,036.3217 56,172,497.53 1719909.06 54,452,588.4818 55,208,849.46 1719909.06 53,488,940.4019 54,231,817.83 1719909.06 52,511,908.7720 53,241,216.76 1719909.06 51,521,307.7021 52,236,857.79 1719909.06 50,516,948.7422 51,218,549.86 1719909.06 49,498,640.8123 50,186,099.23 1719909.06 48,466,190.1724 49,139,309.48 1719909.06 47,419,400.4225 48,077,981.46 1719909.06 46,358,072.4126 47,001,913.27 1719909.06 45,282,004.2127 45,910,900.17 1719909.06 44,190,991.1228 44,804,734.62 1719909.06 43,084,825.56

29 43,683,206.16 1719909.06 41,963,297.1030 42,546,101.43 1719909.06 40,826,192.3831 41,393,204.11 1719909.06 39,673,295.0532 40,224,294.84 1719909.06 38,504,385.7933 39,039,151.27 1719909.06 37,319,242.2134 37,837,547.91 1719909.06 36,117,638.8535 36,619,256.16 1719909.06 34,899,347.1136 35,384,044.26 1719909.06 33,664,135.2037 34,131,677.20 1719909.06 32,411,768.1438 32,861,916.73 1719909.06 31,142,007.6739 31,574,521.27 1719909.06 29,854,612.2240 30,269,245.92 1719909.06 28,549,336.8641 28,945,842.34 1719909.06 27,225,933.2842 27,604,058.76 1719909.06 25,884,149.7143 26,243,639.92 1719909.06 24,523,730.8644 24,864,326.99 1719909.06 23,144,417.9345 23,465,857.57 1719909.06 21,745,948.5146 22,047,965.60 1719909.06 20,328,056.5547 20,610,381.34 1719909.06 18,890,472.2948 19,152,831.30 1719909.06 17,432,922.2449 17,675,038.17 1719909.06 15,955,129.1150 16,176,720.81 1719909.06 14,456,811.7551 14,657,594.18 1719909.06 12,937,685.1252 13,117,369.26 1719909.06 11,397,460.2053 11,555,753.03 1719909.06 9,835,843.9854 9,972,448.41 1719909.06 8,252,539.3555 8,367,154.17 1719909.06 6,647,245.1256 6,739,564.92 1719909.06 5,019,655.8657 5,089,371.00 1719909.06 3,369,461.9458 3,416,258.48 1719909.06 1,696,349.4359 1,719,909.06 1719909.06 0.00

TIR 24%

-$ 3,200,000.00 -$ 3,200,000.00 $ 630,000.00 $ 509,747.01 $ 680,000.00 $ 445,181.59 $ 760,000.00 $ 402,583.54 $ 810,000.00 $ 347,169.52 $ 900,000.00 $ 312,113.98 $ 950,000.00 $ 266,568.27

$ 1,050,000.00 $ 238,390.14 $ 1,300,000.00 $ 238,812.19 $ 1,500,000.00 $ 222,955.68 $ 1,800,000.00 $ 216,478.08

VPN 0.00

TIR 22%

3200000.00250000 205,176.22350000 235,744.77550000 304,035.11850000 385,626.60

1140000 424,463.091200000 366,693.611300000 326,026.171600000 329,318.481800000 304,057.452300000 318,858.50

VPN 0.0

tVP(TIR)

3200000.00464,929.20464,474.22

TIR 18.30% 459,077.48

413,600.96388,475.08346,631.79323,860.67338,950.59

VPN 0.00

TASA 16%

NPR FLUJO VPN0 3200000.00 3200000.001 550000.00 474,137.932 650000.00 483,055.893 760000.00 486,899.834 810000.00 447,355.795 900000.00 428,501.716 950000.00 389,920.147 1050000.00 371,521.018 1300000.00 396,533.09

VPN 277925.39

TASA 18%

NPR FLUJO VPN0 3200000.00 3200000.001 550000.00 466,101.692 650000.00 466,819.883 760000.00 462,559.464 810000.00 417,788.995 900000.00 393,398.296 950000.00 351,909.967 1050000.00 329,621.288 1300000.00 345,849.61

VPN 34049.18

TASA 19%NPR FLUJO VPN

0 3200000.00 3200000.001 550000.00 462,184.872 650000.00 459,007.133 760000.00 450,996.02

4 810000.00 403,921.695 900000.00 377,144.436 950000.00 334,535.217 1050000.00 310,713.828 1300000.00 323,271.68

VPN 78225.14

TASA VPN14% 550758.3915% 410463.1916% 277925.3917% 152616.3718% 34049.1819% 78225.1420% 184620.89

14% 15% 16% 17% 18% 19% 20%

300000.00

200000.00

100000.00

0.00

100000.00

200000.00

300000.00

400000.00

500000.00

600000.00