PROYECCIONES DE VENTAS

Ventas Citycar (Uds.)

Precios Citycar (US$)
Ventas Rango Medio (Uds.)
Precios Rango Medio (US$)
Ventas Todoterreno (Uds.)
Precios Todoterreno US$)

Ingresos Ventas de automoviles (US$)

Porcentaje Rptos. sobre ventas
automotrices
Ingresos Ventas Repuestos y
Accesorios (US$)
Total Ingresos del Giro (US$)

PROYECCIONES DE VENTAS E INGRESOS

1
2
3
800
1,200
2,500
6,800
7,140
7,497
600
900
1,800
9,200
9,660
10,143
400
700
1,400
16,500
17,325
18,191

0
0

17,560,000

29,389,500

62,467,650

15.0%

20.0%

25.0%

2,634,000

5,877,900

15,616,913

20,194,000

35,267,400

78,084,563

FLUJO NETO DE FONDOS PROYECTO AUTOMOTORA HUE LENG (US$)

ITEM/AOS
I.- INGRESOS
Ventas del giro
Otros ingresos
Total Ingresos
II.- EGRESOS DE OPERACIN
Costos Fijos
Costo variable de Ventas
Gastos de Adm. Y Ventas
Cuota Leasing
Depreciacin
Amortizacin GOPM
Total Egresos de Operacin

20,194,000

35,267,400

78,084,563

20,194,000

35,267,400

78,084,563

-137,659

600,000
18,174,600
903,880
-137,659
95,125
30,000
19,941,264

630,000
31,740,660
1,205,348
-137,659
90,125
30,000
33,833,792

661,500
70,276,106
2,061,691
-137,659
80,125
30,000
73,247,082

-137,659

III.- INVERSIN
Terreno
Construcciones
Pavimentos
Maquinarias y Equipos
Mobiliario y Equipos de Oficina
Gastos de Organizacin y Puesta en
Marcha (GOPM)
Capital de Trabajo
Total Inversin
Resultado Antes de Impto. (RAI)
Impuesto a la Renta (Menos)

90,000
4,038,800
6,046,300
-5,908,641
0

3,014,680
3,014,680
-2,761,944
0

8,563,433
8,563,433
-7,129,825
0

3,287,913
3,287,913
1,549,568
0

Resultado Despus de Impto. (RDI)

-5,908,641

-2,761,944

-7,129,825

1,549,568

1,500,000
180,000
112,500
100,000
25,000

Depreciacin
Amortizacin GOPM
Recuperacin Capital de Trabajo
Valor Libro Activos
Valor Venta Terreno
FLUJO NETO DE FONDOS S/FIN
Ko
VAN
TIR
FLUJO NETO DE FONDOS S/FIN
Prstamo
Amortizacin Prstamo
Inters Prstamo
Beneficio tributario Prstamo
FLUJO NETO DE FONDOS C/FIN
Ke
VAN
TIR
Periodo
Cuota
Amortizacin
Inters
Saldo
Beneficio tributario

Rf
Rm
Beta
Retorno esperado Accionistas (Ke)

-5,908,641
15.37%
0
24.15%
-5,908,641
2,418,520

-3,490,121
21.70%
2,244,844
26.96%
0

2,418,520

95,125
30,000

90,125
30,000

80,125
30,000

-2,636,819

-7,009,700

1,659,693

-2,636,819

-7,009,700

1,659,693

-309,527
-253,945
50,789
-3,149,502

-342,027
-221,444
44,289
-7,528,882

-377,940
-185,531
37,106
1,133,328

1
563,471
309,527
253,945
2,108,993
50,789

2
563,471
342,027
221,444
1,766,966
44,289

3
563,471
377,940
185,531
1,389,026
37,106

3.95%
12.40%
2.1
21.70%

Fuente Financiamiento
Participacin
Costo
Capital propio
50%
21.70%
Prstamo Bancario
40%
10.50%
Leasing
10%
14.50%
Costo Promedio Ponderado de Capital
(Ko)
15.37%

ACTIVO
Construcciones
Pavimentos
Maquinarias y Equipos

VALOR ADQ.
180,000
112,500
100,000

VIDA TIL
20
12
12

1
27,000
28,125
25,000

CUADRO DE DEPRECIACION ACELERAD

DEPRECIACIN ANUAL
2
27,000
28,125
25,000

Mobiliario y Equipos de Oficina

TOTAL

25,000
417,500

INTERS
PRESTAMO
AMORTIZACIN CONSTANTE
FLUJO NETO DE FONDOS S/FIN
Prstamo
Amortizacin
Inters
Beneficio Tributario
FLUJO NETO DE FONDOS
C/FINANCIAMIENTO
VAN
TIR

9%
50%

AMORTIZACIN VARIABLE
FLUJO NETO DE FONDOS S/FIN
Prstamo
Amortizacin
Inters
Beneficio Tributario
FLUJO NETO DE FONDOS
C/FINANCIAMIENTO
VAN
TIR

AMORTIZACIN AL FINAL C/P

PERIODICO DE INTERES
FLUJO NETO DE FONDOS S/FIN
Prstamo
Amortizacin
Inters
Beneficio Tributario
FLUJO NETO DE FONDOS
C/FINANCIAMIENTO
VAN
TIR
AMORTIZACIN AL FINAL C/P
INTERES AL FINAL
FLUJO NETO DE FONDOS S/FIN
Prstamo

15,000
95,125

10,000
90,125

-6,046,300.0 -2,499,160.0 -6,872,040.5 1,797,352.0

3,023,150.0
-503,858.3 -503,858.3 -503,858.3
-272,083.5 -226,736.3 -181,389.0
46,254.2
38,545.2
30,836.1
-3,023,150.0 -3,228,847.6 -7,564,089.9 1,142,940.8
2,650,859.7
28.12%

-6,046,300.0 -2,499,160.0 -6,872,040.5 1,797,352.0

3,023,150.0
-401,836.4 -438,001.7 -477,421.9
-272,083.5 -235,918.2 -196,498.1
46,254.2
40,106.1
33,404.7
-3,023,150.0 -3,126,825.7 -7,505,854.3 1,156,836.7
2,700,998.1
28.30%

-6,046,300.0 -2,499,160.0 -6,872,040.5 1,797,352.0

3,023,150.0
0.0
0.0
0.0
-272,083.5 -272,083.5 -272,083.5
46,254.2
46,254.2
46,254.2
-3,023,150.0 -2,724,989.3 -7,097,869.8 1,571,522.7
3,094,574.4
29.75%

-6,046,300.0 -2,499,160.0 -6,872,040.5 1,797,352.0

3,023,150.0

Amortizacin
Inters
Beneficio Tributario
FLUJO NETO DE FONDOS
C/FINANCIAMIENTO
VAN
TIR

0.0
0.0
0.0

0.0
0.0
0.0

0.0
0.0
0.0

-3,023,150.0 -2,499,160.0 -6,872,040.5 1,797,352.0

3,291,971.3
30.60%

SOS
4
2,800
7,722
2,200
10,447
1,500
18,737

5
3,000
7,954
2,300
10,761
1,600
19,299

6
3,000
8,192
2,400
11,084
1,800
19,878

72,710,867

79,488,887

86,957,521

30.0%

30.0%

30.0%

21,813,260

23,846,666

26,087,256

94,524,127 103,335,554 113,044,777

A HUE LENG (US$)

94,524,127

103,335,554 113,044,777
120,000
94,524,127 103,335,554 113,164,777

694,575
85,071,715
2,390,483
-137,659
80,125

729,304
93,001,998
2,566,711
-137,659
27,000

88,374,556

96,462,672 105,293,964

1,762,285
1,762,285
4,387,286
0

1,941,845
1,941,845
4,931,037
-165,941

0
0
7,870,813
-1,338,038

4,387,286

4,765,096

6,532,775

= *

+
}

= * +

765,769
101,740,299
2,760,896
27,000

22,608,955

Crdito

+ ()
}; Leasing

80,125
0

27,000
0

4,467,411

4,792,096

27,000
0
22,608,955
18,000
1,875,000
31,061,730

4,467,411

4,792,096

31,061,730

-417,624
-145,848
29,170
3,933,109

-461,474
-101,997
20,399
4,249,024

-509,929
-53,543
10,709
30,508,968

4
563,471
417,624
145,848
971,403
29,170

5
563,471
461,474
101,997
509,929
20,399

6
563,471
509,929
53,543
0
10,709

UADRO DE DEPRECIACION ACELERADA

DEPRECIACIN ANUAL
3
4
27,000
27,000
28,125
28,125
25,000
25,000

5
27,000
0
0

6
27,000
0
0

DEPRECIAC. VALOR
ACUMULAD LIBRO
162,000
18,000
112,500
0
100,000
0

VALOR
LIQUIDAC.
108,000
0
30,000

0
80,125

0
80,125

0
27,000

0
27,000

4,605,070.0 4,810,194.9 31,064,280.4

-503,858.3
-136,041.8
23,127.1

-503,858.3
-90,694.5
15,418.1

-503,858.3 -3,023,150.0
-45,347.3 -952,292.3
7,709.0
161,889.7

3,988,297.0 4,231,060.1 30,522,783.9

4,605,070.0 4,810,194.9 31,064,280.4

-520,389.8
-153,530.1
26,100.1

-567,224.9
-106,695.0
18,138.2

-618,275.2 -3,023,150.0
-55,644.8 -1,020,369.7
9,459.6
173,462.8

3,957,250.2 4,154,413.1 30,399,820.1

4,605,070.0 4,810,194.9 31,064,280.4

0.0
-272,083.5
46,254.2

0.0 -3,023,150.0 -3,023,150.0

-272,083.5 -272,083.5 -1,632,501.0
46,254.2
46,254.2
277,525.2

4,379,240.7 4,584,365.5 27,815,301.1

4,605,070.0 4,810,194.9 31,064,280.4

25,000
399,500

0
18,000

0
138,000

0.0
0.0
0.0

0.0 -3,023,150.0 -3,023,150.0

0.0 -2,046,975.2 -2,046,975.2
0.0
347,985.8
347,985.8

4,605,070.0 4,810,194.9 26,342,141.0

RESULTADO
90,000
0
30,000

0
120,000

PERIODO
0
1
2
3
4
5
6
TOTAL
CUOTA
PERIODO
0
1
2
3
4
5
6
TOTAL

PERIODO
0
1
2
3
4
5
6
TOTAL

Cuadro de Amortizacin del Prestamo (Amort. Constante)

CUOTA
AMORT.
INTERES
SALDO
3,023,150.00
775,941.83 503,858.33 272,083.50 2,519,291.67
730,594.58 503,858.33 226,736.25 2,015,433.33
685,247.33 503,858.33 181,389.00 1,511,575.00
639,900.08 503,858.33 136,041.75 1,007,716.67
594,552.83 503,858.33
90,694.50
549,205.58 503,858.33
45,347.25
3,975,442.25 3,023,150.00 952,292.25
Amortizacin variable
$ 673,919.94
CUOTA
AMORT.
INTERES
673,919.94
673,919.94
673,919.94

401,836.44
438,001.72
477,421.88

503,858.33
0.00

SALDO
3,023,150.00
272,083.50 2,621,313.56
235,918.22 2,183,311.83
196,498.07 1,705,889.96

673,919.94 520,389.85 153,530.10 1,185,500.11

673,919.94 567,224.93 106,695.01 618,275.18
673,919.94 618,275.18
55,644.77
0.00
4,043,519.66 3,023,150.00 1,020,369.66

Amortizacin al Final. Pago Periodico de Intereses

CUOTA
AMORT.
INTERES
SALDO
3,023,150.00
272,083.50
0.00 272,083.50 3,023,150.00
272,083.50
272,083.50
272,083.50
272,083.50

0.00
0.00
0.00
0.00

272,083.50
272,083.50
272,083.50
272,083.50

3,023,150.00
3,023,150.00
3,023,150.00
3,023,150.00

3,295,233.50 3,023,150.00 272,083.50

4,655,651.00 3,023,150.00 1,632,501.00

0.00

PERIOD
0
1
2
3
4
5
6
TOTAL

Amortizacin al Final. Pago de interreses al final

CUOTA
AMORT.
INTERES
SALDO

0.00
0.00 272,083.50
0.00
0.00 296,571.02
0.00
0.00 323,262.41
0.00
0.00 352,356.02
0.00
0.00 384,068.06
5,070,125.20 3,023,150.00 418,634.19
5,070,125.20 3,023,150.00 2,046,975.20

3,023,150.00
3,295,233.50
3,591,804.52
3,915,066.92
4,267,422.94
4,651,491.01
5,070,125.20

Constante)
B. TRIBUT
46,254.20
38,545.16
30,836.13
23,127.10
15,418.07
7,709.03
161,889.68

B. TRIBUT
46,254.20
40,106.10
33,404.67
26,100.12
18,138.15
9,459.61
173,462.84

ntereses
B. TRIBUT
46,254.20
46,254.20
46,254.20
46,254.20
46,254.20
46,254.20
277,525.17

al final
B. TRIBUT

0.00
0.00
0.00
0.00
0.00
347,985.78
347,985.78

PROYECCIONES DE VENTAS E INGRESOS

0
1
2
3
800
1,200
2,500
6,800
7,140
7,497
600
900
1,800
9,200
9,660
10,143
400
700
1,400
16,500
17,325
18,191
0
17,560,000 29,389,500 62,467,650

PROYECCIONES DE VENTAS
Ventas Citycar (Uds.)
Precios Citycar (US$)
Ventas Rango Medio (Uds.)
Precios Rango Medio (US$)
Ventas Todoterreno (Uds.)
Precios Todoterreno US$)
Ingresos Ventas de automoviles (US$)
Porcentaje Rptos. sobre ventas automotrices
Ingresos Ventas Repuestos y Accesorios (US$)
Total Ingresos del Giro (US$)

0
0

15.0%

20.0%

25.0%

2,634,000

5,877,900

15,616,913

20,194,000

35,267,400

78,084,563

FLUJO NETO DE FONDOS PROYECTO AUTOMOTORA HUE LENG (US$)

ITEM/AOS
I.- INGRESOS
Ventas del giro
Otros ingresos
Total Ingresos
II.- EGRESOS DE OPERACIN
Costos Fijos
Costo variable de Ventas
Gastos de Adm. Y Ventas
Cuota Leasing
Depreciacin
Amortizacin GOPM
Total Egresos de Operacin
III.- INVERSIN
Terreno
Construcciones
Pavimentos
Maquinarias y Equipos
Mobiliario y Equipos de Oficina
Gastos de Organizacin y Puesta en Marcha
(GOPM)
Capital de Trabajo
Total Inversin
Resultado Antes de Impto. (RAI)
Impuesto a la Renta (Menos)
Resultado Despus de Impto. (RDI)
Depreciacin
Amortizacin GOPM
Recuperacin Capital de Trabajo
Valor Libro Activos
Valor Venta Terreno
FLUJO NETO DE FONDOS S/FIN

20,194,000

35,267,400

78,084,563

20,194,000

35,267,400

78,084,563

-137,659

600,000
18,174,600
903,880
-137,659
31,708
30,000
19,602,529

630,000
31,740,660
1,205,348
-137,659
31,708
30,000
33,500,057

661,500
70,276,106
2,061,691
-137,659
31,708
30,000
72,923,347

3,014,680
3,014,680
-2,423,209
0
-2,423,209
31,708
30,000

8,563,433
8,563,433
-6,796,090
0
-6,796,090
31,708
30,000

3,287,913
3,287,913
1,873,303
0
1,873,303
31,708
30,000

-2,361,501

-6,734,381

1,935,011

-137,659

1,500,000
180,000
112,500
100,000
25,000
90,000
4,038,800
6,046,300
-5,908,641
0
-5,908,641

-5,908,641

Ko
VAN
TIR
FLUJO NETO DE FONDOS S/FIN
Prstamo
Amortizacin Prstamo
Inters Prstamo
Beneficio tributario Prstamo
FLUJO NETO DE FONDOS C/FIN
Ke
VAN
TIR
Periodo
Cuota
Amortizacin
Inters
Saldo
Beneficio tributario

Rf
Rm
Beta
Retorno esperado Accionistas (Ke)

Fuente Financiamiento
Capital propio
Prstamo Bancario
Leasing
Costo Promedio Ponderado de Capital (Ko)

15.37%
6,458,981
26.25%
-5,908,641
2,418,520

-3,490,121
21.70%
2,948,319
28.75%
0

2,418,520

-2,361,501

-6,734,381

1,935,011

-309,527
-253,945
50,789
-2,874,183

-342,027
-221,444
44,289
-7,253,564

-377,940
-185,531
37,106
1,408,646

1
563,471
309,527
253,945
2,108,993
50,789

2
563,471
342,027
221,444
1,766,966
44,289

3
563,471
377,940
185,531
1,389,026
37,106

3.95%
12.40%
2.1
21.70%

Participacin
Costo
50%
21.70%
40%
10.50%
10%
14.50%
15.37%

CUADRO DE DEPRECIACION LINEAL

DEPRECIACIN AN
ACTIVO
Construcciones
Pavimentos
Maquinarias y Equipos
Mobiliario y Equipos de Oficina
TOTAL

INTERS
PRESTAMO
AMORTIZACIN CONSTANTE

VALOR ADQ. VIDA TIL

180,000
112,500
100,000
25,000
417,500

9%
50%

20
12
12
5

9,000
9,375
8,333
5,000
31,708

9,000
9,375
8,333
5,000
31,708

FLUJO NETO DE FONDOS S/FIN

Prstamo
Amortizacin
Inters
Beneficio Tributario

-6,046,300.0 -2,499,160.0 -6,872,040.5

3,023,150.0
-503,858.3 -503,858.3
-272,083.5 -226,736.3
46,254.2
38,545.2

1,797,352.0

FLUJO NETO DE FONDOS C/FINANCIAMIENTO

VAN
TIR

-3,023,150.0 -3,228,847.6 -7,564,089.9

2,650,859.7
28.12%

1,142,940.8

AMORTIZACIN VARIABLE
FLUJO NETO DE FONDOS S/FIN
Prstamo
Amortizacin
Inters
Beneficio Tributario

-6,046,300.0 -2,499,160.0 -6,872,040.5

3,023,150.0
-401,836.4 -438,001.7
-272,083.5 -235,918.2
46,254.2
40,106.1

1,797,352.0

FLUJO NETO DE FONDOS C/FINANCIAMIENTO

VAN
TIR

-3,023,150.0 -3,126,825.7 -7,505,854.3

2,700,998.1
28.30%

1,156,836.7

AMORTIZACIN AL FINAL C/P PERIODICO DE

INTERES
FLUJO NETO DE FONDOS S/FIN
Prstamo
Amortizacin
Inters
Beneficio Tributario

-6,046,300.0 -2,499,160.0 -6,872,040.5

3,023,150.0
0.0
0.0
-272,083.5 -272,083.5
46,254.2
46,254.2

1,797,352.0

FLUJO NETO DE FONDOS C/FINANCIAMIENTO

VAN
TIR

-3,023,150.0 -2,724,989.3 -7,097,869.8

3,094,574.4
29.75%

1,571,522.7

AMORTIZACIN AL FINAL C/P INTERES AL FINAL

FLUJO NETO DE FONDOS S/FIN
Prstamo
Amortizacin
Inters
Beneficio Tributario

-6,046,300.0 -2,499,160.0 -6,872,040.5

3,023,150.0
0.0
0.0
0.0
0.0
0.0
0.0

1,797,352.0

FLUJO NETO DE FONDOS C/FINANCIAMIENTO

VAN
TIR

-3,023,150.0 -2,499,160.0 -6,872,040.5

3,291,971.3
30.60%

1,797,352.0

-503,858.3
-181,389.0
30,836.1

-477,421.9
-196,498.1
33,404.7

0.0
-272,083.5
46,254.2

0.0
0.0
0.0

GRESOS
4
2,800
7,722
2,200
10,447
1,500
18,737
72,710,867

5
3,000
7,954
2,300
10,761
1,600
19,299
79,488,887

6
3,000
8,192
2,400
11,084
1,800
19,878
86,957,521

30.0%

30.0%

30.0%

21,813,260

23,846,666

26,087,256

94,524,127

103,335,554 113,044,777

ORA HUE LENG (US$)

94,524,127
94,524,127

103,335,554 113,044,777
-94,250
103,335,554 112,950,527

694,575
85,071,715
2,390,483
-137,659
31,708

729,304
93,001,998
2,566,711
-137,659
31,708

765,769
101,740,299
2,760,896

88,050,821

96,192,062

105,293,672

1,762,285
1,762,285
4,711,021
0
4,711,021
31,708
0

1,941,845
1,941,845
5,201,647
-436,334
4,765,312
31,708
0

4,742,729

4,797,021

0
0
7,656,855
-1,301,665
6,355,190
26,708
0
22,608,955
232,250
1,875,000
31,098,103

= *

+
}

= * +

26,708

22,608,955

Crdito

+ ()
}; Leasing

4,742,729

4,797,021

31,098,103

-417,624
-145,848
29,170
4,208,427

-461,474
-101,997
20,399
4,253,949

-509,929
-53,543
10,709
30,545,341

4
563,471
417,624
145,848
971,403
29,170

5
563,471
461,474
101,997
509,929
20,399

6
563,471
509,929
53,543
0
10,709

CUADRO DE DEPRECIACION LINEAL

DEPRECIACIN ANUAL
3

9,000
9,375
8,333
5,000
31,708

9,000
9,375
8,333
5,000
31,708

9,000
9,375
8,333
5,000
31,708

9,000
9,375
8,333
0
26,708

DEPRECIAC.
VALOR
ACUMULAD
LIBRO
A
54,000
126,000
56,250
56,250
50,000
50,000
25,000
0
185,250
232,250

VALOR
LIQUIDAC.
108,000
0
30,000
0
138,000

4,605,070.0
-503,858.3
-136,041.8
23,127.1

4,810,194.9 31,064,280.4
-503,858.3
-90,694.5
15,418.1

-503,858.3 -3,023,150.0
-45,347.3 -952,292.3
7,709.0
161,889.7

3,988,297.0

4,231,060.1 30,522,783.9

4,605,070.0

4,810,194.9 31,064,280.4

-520,389.8
-153,530.1
26,100.1

-567,224.9
-106,695.0
18,138.2

-618,275.2 -3,023,150.0
-55,644.8 -1,020,369.7
9,459.6
173,462.8

3,957,250.2

4,154,413.1 30,399,820.1

4,605,070.0

4,810,194.9 31,064,280.4

0.0
-272,083.5
46,254.2

0.0 -3,023,150.0 -3,023,150.0

-272,083.5 -272,083.5 -1,632,501.0
46,254.2
46,254.2
277,525.2

4,379,240.7

4,584,365.5 27,815,301.1

4,605,070.0

4,810,194.9 31,064,280.4

0.0
0.0
0.0
4,605,070.0

0.0 -3,023,150.0 -3,023,150.0

0.0 -2,046,975.2 -2,046,975.2
0.0
347,985.8
347,985.8
4,810,194.9 26,342,141.0

RESULTADO
-18,000
-56,250
-20,000
0
-94,250

PERIODO

Cuadro de Amortizacin del Prestamo (Amort. Constante)

CUOTA
AMORT.
INTERES
SALDO

0
1
2
3
4
5
6
TOTAL
CUOTA
PERIODO
0
1
2
3
4
5
6
TOTAL

PERIODO
0
1
2
3
4
5
6
TOTAL

PERIOD
0
1
2
3
4
5
6
TOTAL

775,941.83
730,594.58
685,247.33
639,900.08

503,858.33
503,858.33
503,858.33
503,858.33

272,083.50
226,736.25
181,389.00
136,041.75

594,552.83 503,858.33
90,694.50
549,205.58 503,858.33
45,347.25
3,975,442.25 3,023,150.00 952,292.25
Amortizacin variable
$ 673,919.94
CUOTA
AMORT.
INTERES
673,919.94
673,919.94
673,919.94

401,836.44
438,001.72
477,421.88

3,023,150.00
2,519,291.67
2,015,433.33
1,511,575.00
1,007,716.67
503,858.33
0.00

SALDO
3,023,150.00
272,083.50 2,621,313.56
235,918.22 2,183,311.83
196,498.07 1,705,889.96

673,919.94 520,389.85 153,530.10 1,185,500.11

673,919.94 567,224.93 106,695.01 618,275.18
673,919.94 618,275.18
55,644.77
0.00
4,043,519.66 3,023,150.00 1,020,369.66

Amortizacin al Final. Pago Periodico de Intereses

CUOTA
AMORT.
INTERES
SALDO
3,023,150.00
272,083.50
0.00 272,083.50 3,023,150.00
272,083.50
272,083.50
272,083.50
272,083.50

0.00
0.00
0.00
0.00

272,083.50
272,083.50
272,083.50
272,083.50

3,023,150.00
3,023,150.00
3,023,150.00
3,023,150.00

3,295,233.50 3,023,150.00 272,083.50

4,655,651.00 3,023,150.00 1,632,501.00

0.00

Amortizacin al Final. Pago de interreses al final

CUOTA
AMORT.
INTERES
SALDO

0.00
0.00 272,083.50
0.00
0.00 296,571.02
0.00
0.00 323,262.41
0.00
0.00 352,356.02
0.00
0.00 384,068.06
5,070,125.20 3,023,150.00 418,634.19
5,070,125.20 3,023,150.00 2,046,975.20

3,023,150.00
3,295,233.50
3,591,804.52
3,915,066.92
4,267,422.94
4,651,491.01
5,070,125.20

(Amort. Constante)
B. TRIBUT

46,254.20
38,545.16
30,836.13
23,127.10
15,418.07
7,709.03
161,889.68

e
B. TRIBUT
46,254.20
40,106.10
33,404.67
26,100.12
18,138.15
9,459.61
173,462.84

co de Intereses
B. TRIBUT
46,254.20
46,254.20
46,254.20
46,254.20
46,254.20
46,254.20
277,525.17

erreses al final
B. TRIBUT

0.00
0.00
0.00
0.00
0.00
347,985.78
347,985.78