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MATEMTICA FINANCEIRA

Funes Financeiras do Excel


Verso 3.75

19-Sep-12

BRENO DE CAMPOS
(31) 3227-4852
brenocampos@terra.com.br

Elaborado p/ Prof. Breno de Campos

Breno de Campos

CEIRA
do Excel

Recebimento / Entrada de Caixa


Valores Positivos (+)

FLUXO DE
CAIXA

6
Perodos

Desembolso / Sada de Caixa


Valores Negativos (-)
Linha do tempo

Elaborado p/ Prof. Breno de Campos

Breno de Campos

7
dias
meses
anos
etc

SISTEMA DE CAPITALIZAO
SIMPLES
Taxa de Juro

Per.

10.0%

Taxa de Juro

Juro s/.
Capital
Inicial

Capital

0
1
2
3
4
5

100.00
100.00
110.00
120.00
130.00
140.00

119
120

1,280.00 +
1,290.00 +

+
+
+
+
+

10.00
10.00
10.00
10.00
10.00

SISTEMA DE CAPITALIZAO
COMPOSTA

Capital +
Juros Acum.

=
=
=
=
=

110.00
120.00
130.00
140.00
150.00

10.00 =
10.00 =

1,290.00
1,300.00

10%

Juro s/.
Capital

Capital
100.00
100.00
110.00
121.00
133.10
146.41

+
+
+
+
+

10.00
11.00
12.10
13.31
14.64

7,661,906.51 +
8,428,097.17 +

766,190.65
842,809.72

Elaborado p/ Prof. Breno de Campos

Breno de Campos

E CAPITALIZAO
OMPOSTA

Capital + Juros
Acum.

=
=
=
=
=

110.00
121.00
133.10
146.41
161.05

=
=

8,428,097.17
9,270,906.88

VALOR FUTURO
Capital
Prazo
Taxa de Juro

Montante
Funo VF

R$
1,000.00
3.0 meses
10.0% am

Sistema de Capitalizao
Composta
1,331.00
-1,331.00

PV
n
i

Simples
1,300.00
FV

VALOR FUTURO
Srie Uniforme
No. Prestaes
Taxa de Juro

100.00
$
360 meses
0.5% am

Montante

100,451.50

Funo VF

-100,451.50

PMT
n
i

FV

Elaborado p/ Prof. Breno de Campos

Breno de Campos

FUNCO VFPLANO
Capital
Taxas de Juro

Montante

1,000.00
10.0%
8.0%
7.0%
5.0%
4.0%

R$
am
am
am
am
am

1,388.11 R$

Montante
1,100.00
1,188.00
1,271.16
1,334.72
1,388.11

Elaborado p/ Prof. Breno de Campos

Breno de Campos

Valor Futuro x Prazo x Taxa de Juro


45.0
40.0
35.0

Valor30.0
Futuro
25.0

1
%
2
%
4
%

20.0
15.0
10.0
5.0
0.0
0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48

Perodos

0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20

1%

2%

4%

8%

1
1.01
1.02
1.03
1.04
1.05
1.06
1.07
1.08
1.09
1.10
1.12
1.13
1.14
1.15
1.16
1.17
1.18
1.20
1.21
1.22

1
1.02
1.04
1.06
1.08
1.10
1.13
1.15
1.17
1.20
1.22
1.24
1.27
1.29
1.32
1.35
1.37
1.40
1.43
1.46
1.49

1
1.04
1.08
1.12
1.17
1.22
1.27
1.32
1.37
1.42
1.48
1.54
1.60
1.67
1.73
1.80
1.87
1.95
2.03
2.11
2.19

1
1.08
1.17
1.26
1.36
1.47
1.59
1.71
1.85
2.00
2.16
2.33
2.52
2.72
2.94
3.17
3.43
3.70
4.00
4.32
4.66

21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48

1.23
1.24
1.26
1.27
1.28
1.30
1.31
1.32
1.33
1.35
1.36
1.37
1.39
1.40
1.42
1.43
1.45
1.46
1.47
1.49
1.50
1.52
1.53
1.55
1.56
1.58
1.60
1.61

1.52
1.55
1.58
1.61
1.64
1.67
1.71
1.74
1.78
1.81
1.85
1.88
1.92
1.96
2.00
2.04
2.08
2.12
2.16
2.21
2.25
2.30
2.34
2.39
2.44
2.49
2.54
2.59

2.28
2.37
2.46
2.56
2.67
2.77
2.88
3.00
3.12
3.24
3.37
3.51
3.65
3.79
3.95
4.10
4.27
4.44
4.62
4.80
4.99
5.19
5.40
5.62
5.84
6.07
6.32
6.57

5.03
5.44
5.87
6.34
6.85
7.40
7.99
8.63
9.32
10.06
10.87
11.74
12.68
13.69
14.79
15.97
17.25
18.63
20.12
21.72
23.46
25.34
27.37
29.56
31.92
34.47
37.23
40.21

Elaborado p/ Prof. Breno de Campos

Breno de Campos

1 42 43 44 45 46 47 48

1
%
2
%
4
%

do p/ Prof. Breno de Campos

VALOR FUTURO
Capital
Prazo
Taxa

R$
meses
am

100,000.00
4.50
10.0%

PV
n
i

Sistema de Capitalizao

Montante

Simples
145,000.00

Composta
153,556.10
FV (*)

(*) c ligado HP 12C

Elaborado p/ Prof. Breno de Campos

Mista
153,730.50
FV (**)

(**) c desligado HP 12C

Breno de Campos

desligado HP 12C

Sistema de Capitalizao Simples x Composta


SISTEMAS DE CAPITALIZAO
20,000
18,000
16,000
14,000

Montante
12,000 ($)
10,000
8,000
6,000
4,000
2,000
0
0

0.5

Perodo

Elaborado p/ Prof. Breno de Campos

600%
Simples

Composta

1000

1000

1200

1067.0135502558

1400

1138.5179164294

1600

1214.8140440391

1800

1296.2230460307

2000

1383.0875542685

2200

1475.7731615946

2400

1574.6699605252

2600

1680.194185061

2800

1792.789962521

10

3000

1912.9311827724

11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34

3200
3400
3600
3800
4000
4200
4400
4600
4800
5000
5200
5400
5600
5800
6000
6200
6400
6600
6800
7000
7200
7400
7600
7800

2041.1234927249
2177.9064244828
2323.8556661122
2479.5854845803
2645.7513110646
2823.0524995128
3012.2352700635
3214.095849716
3429.4838234678
3659.305710023
3904.5287771227
4166.1851125534
4445.3759679683
4743.2763938034
5061.1401847964
5400.3051569216
5762.1987779513
6148.3441753411
6560.366546725
7000
7469.0948517902
7969.6254150056
8503.6983082735
9073.5613222146

0.5

35
36
37
38
39
40
41
42
43
44
45

1.5

8000
8200
8400
8600
8800
9000
9200
9400
9600
9800
10000

9681.6128798794
10330.4121311619
11022.689723676
11761.359295427
12549.529737647
13390.5182794067
14287.8644490742
15245.3449713795
16266.9896627851
17357.0983920618
18520.2591774521

Breno de Campos

Composta

AO

Sim pl
es

1.5

VALOR PRESENTE de um Pagamento nico - Montante

Montante
Prazo

1,000,000.00 R$
30.0

Taxa

18.00%

Capital
Funo VP

6,974.93

FV

anos

aa

-6,974.93

PV

VALOR PRESENTE de uma Srie Uniforme

Prestaes
Prazo
Taxa

Capital
Funo VP

1,200,000,000.00 US$
40.0
10.00%

anos

aa

11,734,860,862.17
-11,734,860,862.17

Valor Presente de Uma Srie Uniforme


14,000
12,000
10,000

PMT

PV

Valor Presente de Uma Srie Uniforme


14,000
12,000
10,000
8,000
6,000
4,000
2,000
-

Anos

2
4
6
8
10
12
14
16
18
20
22
24
26
28
30
32
34
36
38
40
42
44
46
48
50
52
54
56
58
60
62
64
66
68
70
72
74
76
78
80

2,083
3,804
5,226
6,402
7,373
8,176
8,840
9,388
9,842
10,216
10,526
10,782
10,993
11,168
11,312
11,432
11,530
11,612
11,679
11,735
11,781
11,819
11,850
11,876
11,898
11,916
11,930
11,942
11,952
11,961
11,967
11,973
11,978
11,982
11,985
11,987
11,990
11,991
11,993
11,994

Breno de Campos

Montante

Elaborado p/ Prof. Breno de Campos

VALOR PRESENTE DE UMA PERPETUIDADE


COM TAXA DE CRESCIMENTO
Taxa de Desconto
Taxa de Crescimento (*)

15.00%

Valor Presente

1,000.00

5.00%

Valor Presente

1,000.00

(*) Taxa de Crescimento < Taxa de Desconto


Data 0

P1

100.00

P2

105.00
110.25
115.76
121.55
127.63
134.01
140.71
147.75
155.13
162.89
171.03
179.59
188.56
197.99
207.89
218.29
229.20
240.66
252.70
265.33
278.60
292.53
307.15
322.51
338.64
355.57
373.35
392.01
411.61
432.19
453.80
476.49
500.32
525.33
551.60
579.18
608.14

P3
P4
P5
P6
P7
P8
P9
P10
P11
P12
P13
P14
P15
P16
P17
P18
P19
P20
P21
P22
P23
P24
P25
P26
P27
P28
P29
P30
P31
P32
P33
P34
P35
P36
P37
P38

VP =

Perpetuidade Per. 1
Tx Desconto - Tx Crescimento
P3
P2
P1

###

P39
P40
P41
P42
P43
P44
P45
P46
P47
P48
P49
P50
P51
P52
P53
P54
P55
P56
P57
P58
P59
P60
P61
P62
P63
P64
P65
P66
P67
P68
P69
P70
P71
P72
P73
P74
P75
P76
P77
P78
P79
P80
P81
P82
P83
P84
P85
P86
P87

638.55
670.48
704.00
739.20
776.16
814.97
855.72
898.50
943.43
990.60
1,040.13
1,092.13
1,146.74
1,204.08
1,264.28
1,327.49
1,393.87
1,463.56
1,536.74
1,613.58
1,694.26
1,778.97
1,867.92
1,961.31
2,059.38
2,162.35
2,270.47
2,383.99
2,503.19
2,628.35
2,759.77
2,897.75
3,042.64
3,194.77
3,354.51
3,522.24
3,698.35
3,883.27
4,077.43
4,281.30
4,495.37
4,720.14
4,956.14
5,203.95
5,464.15
5,737.36
6,024.22
6,325.44
6,641.71

P88
P89
P90
P91
P92
P93
P94
P95
P96
P97
P98
P99
P100
P101
P102
P103
P104
P105
P106
P107
P108
P109
P110
P111
P112
P113
P114
P115
P116
P117
P118
P119
P120
P121
P122
P123
P124
P125
P126
P127
P128
P129
P130
P131
P132
P133
P134
P135
P136

6,973.79
7,322.48
7,688.61
8,073.04
8,476.69
8,900.52
9,345.55
9,812.83
10,303.47
10,818.64
11,359.57
11,927.55
12,523.93
13,150.13
13,807.63
14,498.01
15,222.91
15,984.06
16,783.26
17,622.43
18,503.55
19,428.72
20,400.16
21,420.17
22,491.18
23,615.74
24,796.52
26,036.35
27,338.17
28,705.08
30,140.33
31,647.35
33,229.71
34,891.20
36,635.76
38,467.55
40,390.92
42,410.47
44,530.99
46,757.54
49,095.42
51,550.19
54,127.70
56,834.09
59,675.79
62,659.58
65,792.56
69,082.19
72,536.30

P137
P138
P139
P140
P141
P142
P143
P144
P145
P146
P147
P148
P149
P150
P151
P152
P153
P154
P155
P156
P157
P158
P159
P160
P161
P162
P163
P164
P165
P166
P167
P168
P169
P170
P171
P172
P173
P174
P175
P176
P177
P178
P179
P180
P181
P182
P183
P184
P185

76,163.11
79,971.27
83,969.83
88,168.32
92,576.74
97,205.57
102,065.85
107,169.15
112,527.60
118,153.98
124,061.68
130,264.77
136,778.00
143,616.90
150,797.75
158,337.64
166,254.52
174,567.24
183,295.61
192,460.39
202,083.41
212,187.58
222,796.96
233,936.80
245,633.64
257,915.33
270,811.09
284,351.65
298,569.23
313,497.69
329,172.58
345,631.20
362,912.76
381,058.40
400,111.32
420,116.89
441,122.73
463,178.87
486,337.81
510,654.70
536,187.44
562,996.81
591,146.65
620,703.98
651,739.18
684,326.14
718,542.45
754,469.57
792,193.05

P186
P187
P188
P189
P190
P191
P192
P193
P194
P195
P196
P197
P198
P199
P200

831,802.70
873,392.84
917,062.48
962,915.61
1,011,061.39
1,061,614.46
1,114,695.18
1,170,429.94
1,228,951.43
1,290,399.01
1,354,918.96
1,422,664.90
1,493,798.15
1,568,488.06
1,646,912.46

Breno de Campos

dade Per. 1

Tx Crescimento
P4

TAXA DE JURO
Aplicao
Resgate
Prazo

Montante - Capital
-100,000.00
R$
134,000.00
R$
14.0 meses

Taxa de Juro
Funo TAXA

TAXA DE JURO

2.11%
2.11%

am
am

PV
FV
n
i

Prestao - Capital
TV

Valor Vista
( - ) Entrada
Valor Financiado
No. Prestaes
Prestao

650.00 R$
0.00
650.00
15 meses
-65.00

Funo TAXA

5.56%

am

PV
n
PMT
i

Elaborado p/ Prof. Breno de Campos

Breno de Campos

FUNO PRAZO
Aplicao
Resgate
Taxa de Juro

-100,000.00 R$
137,400.00 R$
2.00% am

PV
FV
i

Prazo
Funo NPER

16.04
16.04

n (*)

meses
meses

(*) exceto HP 12C

FUNO PRAZO
Valor da Dvida
Prestaes
Taxa de Juro

100,000.00 R$
-5,000.01 R$
5.00% am

PV
PMT
i

Prazo
Funo NPER

268.96
268.96

n (*)

meses
meses

(*) exceto HP 12C

Elaborado p/ Prof. Breno de Campos

Breno de Campos

PRESTAES - SRIES UNIFORMES


Valor Vista
( - ) Entrada
Valor Financiado

120,000.00
-20,000.00
100,000.00

Taxa de Juro am

3.00%

No. Prestaes mensais


Prestao
Funo PGTO

10
11,723.05
-11,723.05

PV
i
n

PMT

PRESTAES - SRIES UNIFORMES


Valor Futuro
Taxa de Juro am
No. Prestaes mensais
Prestao
Funo PGTO

1,000,000.00

FV

0.50%

360

995.51
-995.51

PMT

Elaborado p/ Prof. Breno de Campos

Breno de Campos

FATOR DE ACUMULAO DE CAPITAL


Dado CAPITAL Achar MONTANTE
Taxa de
Juro

Nmero de Perodos
1

1.0%
2.0%

10

1.01000

1.02010

1.03030

1.04060

1.05101

1.06152

1.07214

1.08286

1.09369

1.10462

1.02000
1.03000

1.04040
1.06090

1.06121
1.09273

1.08243
1.12551

1.10408
1.15927

1.12616
1.19405

1.14869
1.22987

1.17166
1.26677

1.19509
1.30477

1.21899
1.34392

1.04000
1.05000

1.08160
1.10250

1.12486
1.15763

1.16986
1.21551

1.21665
1.27628

1.26532
1.34010

1.31593
1.40710

1.36857
1.47746

1.42331
1.55133

1.48024
1.62889

1.06000
1.07000

1.12360
1.14490

1.19102
1.22504

1.26248
1.31080

1.33823
1.40255

1.41852
1.50073

1.50363
1.60578

1.59385
1.71819

1.68948
1.83846

1.79085
1.96715

8.0%
9.0%

1.08000
1.09000

1.16640
1.18810

1.25971
1.29503

1.36049
1.41158

1.46933
1.53862

1.58687
1.67710

1.71382
1.82804

1.85093
1.99256

1.99900
2.17189

2.15892
2.36736

10.0%

1.10000

1.21000

1.33100

1.46410

1.61051

1.77156

1.94872

2.14359

2.35795

2.59374

3.0%
4.0%
5.0%
6.0%
7.0%

FATOR DE VALOR ATUAL


Dado MONTANTE Achar CAPITAL
Taxa de
Juro

Nmero de Perodos
1

1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
7.0%
8.0%
9.0%
10.0%

10

0.99010

0.98030

0.97059

0.96098

0.95147

0.94205

0.93272

0.92348

0.91434

0.90529

0.98039
0.97087

0.96117
0.94260

0.94232
0.91514

0.92385
0.88849

0.90573
0.86261

0.88797
0.83748

0.87056
0.81309

0.85349
0.78941

0.83676
0.76642

0.82035
0.74409

0.96154
0.95238

0.92456
0.90703

0.88900
0.86384

0.85480
0.82270

0.82193
0.78353

0.79031
0.74622

0.75992
0.71068

0.73069
0.67684

0.70259
0.64461

0.67556
0.61391

0.94340
0.93458

0.89000
0.87344

0.83962
0.81630

0.79209
0.76290

0.74726
0.71299

0.70496
0.66634

0.66506
0.62275

0.62741
0.58201

0.59190
0.54393

0.55839
0.50835

0.92593
0.91743

0.85734
0.84168

0.79383
0.77218

0.73503
0.70843

0.68058
0.64993

0.63017
0.59627

0.58349
0.54703

0.54027
0.50187

0.50025
0.46043

0.46319
0.42241

0.90909

0.82645

0.75131

0.68301

0.62092

0.56447

0.51316

0.46651

0.42410

0.38554

FATOR DE RECUPERAO DE CAPITAL


Dado CAPITAL Achar PRESTAO - "Tabela PRICE"
Taxa de
Juro

Nmero de Perodos
1

1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
7.0%
8.0%
9.0%
10.0%

10

1.01000

0.50751

0.34002

0.25628

0.20604

0.17255

0.14863

0.13069

0.11674

0.10558

1.02000
1.03000

0.51505
0.52261

0.34675
0.35353

0.26262
0.26903

0.21216
0.21835

0.17853
0.18460

0.15451
0.16051

0.13651
0.14246

0.12252
0.12843

0.11133
0.11723

1.04000
1.05000

0.53020
0.53780

0.36035
0.36721

0.27549
0.28201

0.22463
0.23097

0.19076
0.19702

0.16661
0.17282

0.14853
0.15472

0.13449
0.14069

0.12329
0.12950

1.06000
1.07000

0.54544
0.55309

0.37411
0.38105

0.28859
0.29523

0.23740
0.24389

0.20336
0.20980

0.17914
0.18555

0.16104
0.16747

0.14702
0.15349

0.13587
0.14238

1.08000
1.09000

0.56077
0.56847

0.38803
0.39505

0.30192
0.30867

0.25046
0.25709

0.21632
0.22292

0.19207
0.19869

0.17401
0.18067

0.16008
0.16680

0.14903
0.15582

1.10000

0.57619

0.40211

0.31547

0.26380

0.22961

0.20541

0.18744

0.17364

0.16275

FATOR DE VALOR ATUAL DE UMA SRIE


Dado PRESTAO Achar CAPITAL
Taxa de
Juro

Nmero de Perodos
1

10

1.0%

0.99010

1.97040

2.94099

3.90197

4.85343

5.79548

6.72819

7.65168

8.56602

9.47130

2.0%
3.0%

0.98039
0.97087

1.94156
1.91347

2.88388
2.82861

3.80773
3.71710

4.71346
4.57971

5.60143
5.41719

6.47199
6.23028

7.32548
7.01969

8.16224
7.78611

8.98259
8.53020

4.0%
5.0%

0.96154
0.95238

1.88609
1.85941

2.77509
2.72325

3.62990
3.54595

4.45182
4.32948

5.24214
5.07569

6.00205
5.78637

6.73274
6.46321

7.43533
7.10782

8.11090
7.72173

6.0%
7.0%

0.94340
0.93458

1.83339
1.80802

2.67301
2.62432

3.46511
3.38721

4.21236
4.10020

4.91732
4.76654

5.58238
5.38929

6.20979
5.97130

6.80169
6.51523

7.36009
7.02358

8.0%
9.0%

0.92593
0.91743

1.78326
1.75911

2.57710
2.53129

3.31213
3.23972

3.99271
3.88965

4.62288
4.48592

5.20637
5.03295

5.74664
5.53482

6.24689
5.99525

6.71008
6.41766

10.0%

0.90909

1.73554

2.48685

3.16987

3.79079

4.35526

4.86842

5.33493

5.75902

6.14457

FATOR DE ACUMULAO DE UMA SRIE


Dado PRESTAO Achar MONTANTE
Taxa de
Juro

Nmero de Perodos
1

10

1.0%

1.00000

2.01000

3.03010

4.06040

5.10101

6.15202

7.21354

8.28567

9.36853

10.46221

2.0%
3.0%

1.00000

2.02000

3.06040

4.12161

5.20404

6.30812

7.43428

8.58297

9.75463

10.94972

1.00000

2.03000

3.09090

4.18363

5.30914

6.46841

7.66246

8.89234

10.15911

4.0%
5.0%
6.0%

1.00000

2.04000

3.12160

4.24646

5.41632

6.63298

7.89829

9.21423

10.58280

12.00611

1.00000

2.05000

3.15250

4.31013

5.52563

6.80191

8.14201

9.54911

11.02656

12.57789

1.00000

2.06000

3.18360

4.37462

5.63709

6.97532

8.39384

9.89747

11.49132

13.18079

7.0%
8.0%

1.00000

2.07000

3.21490

4.43994

5.75074

7.15329

8.65402

10.25980

11.97799

13.81645

1.00000

2.08000

3.24640

4.50611

5.86660

7.33593

8.92280

10.63663

12.48756

14.48656

9.0%
10.0%

1.00000

2.09000

3.27810

4.57313

5.98471

7.52333

9.20043

11.02847

13.02104

15.19293

1.00000

2.10000

3.31000

4.64100

6.10510

7.71561

9.48717

11.43589

13.57948

15.93742

11.46388

FATOR DE FORMAO DE CAPITAL


Dado MONTANTE Achar PRESTAO
Taxa de
Juro

Nmero de Perodos
1

1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
7.0%
8.0%
9.0%
10.0%

10

1.00000
1.00000

0.49751
0.49505

0.33002
0.32675

0.24628
0.24262

0.19604
0.19216

0.16255
0.15853

0.13863
0.13451

0.12069
0.11651

0.10674
0.10252

0.09558
0.09133

1.00000
1.00000

0.49261
0.49020

0.32353
0.32035

0.23903
0.23549

0.18835
0.18463

0.15460
0.15076

0.13051
0.12661

0.11246
0.10853

0.09843
0.09449

0.08723
0.08329

1.00000
1.00000

0.48780
0.48544

0.31721
0.31411

0.23201
0.22859

0.18097
0.17740

0.14702
0.14336

0.12282
0.11914

0.10472
0.10104

0.09069
0.08702

0.07950
0.07587

1.00000
1.00000

0.48309
0.48077

0.31105
0.30803

0.22523
0.22192

0.17389
0.17046

0.13980
0.13632

0.11555
0.11207

0.09747
0.09401

0.08349
0.08008

0.07238
0.06903

1.00000
1.00000

0.47847
0.47619

0.30505
0.30211

0.21867
0.21547

0.16709
0.16380

0.13292
0.12961

0.10869
0.10541

0.09067
0.08744

0.07680
0.07364

0.06582
0.06275

Elaborado p/ Prof. Breno de Campos

Breno de Campos

TAXA DE JURO

Prestao - Capital

Desconto c/ Entrada p/ Pagamento Vista


Valor de Referncia
Desconto Pgto Vista
Desconto
Valor Vista
Entrada ou Primeira Prest.
Valor Financiado
Nmero de Prestaes c/ Entrada
Prestao

1,200.00
3%
36.00
1,164.00
-400.00
764.00
3
-400.00

Funo TAXA (am)

3.13%
(*) - 1

Elaborado p/ Prof. Breno de Campos

PV
n (*)
PMT
i

Breno de Campos

TAXA DE JURO

Prestao - Capital

Desconto s/ Entrada p/ Pagamento Vista


Valor de Referncia
Desconto Pgto Vista
Desconto
Valor Vista
Entrada ou Primeira Prest.
Valor Financiado
Nmero de Prestaes s/ Entrada
Prestao
Funo TAXA (am)

Elaborado p/ Prof. Breno de Campos

1,200.00
10%
120.00
1,080.00
1,080.00
10
-120.00
1.96%

PV
n
PMT
i

Breno de Campos

Prestaes c/ Entrada

Desconto p/ Pagamento Vista


1%

2%

3%

4%

5%

6%

7%

2.04%

4.17%

6.38%

8.70% 11.11% 13.64% 16.28% 19.05% 25.00% 28.21% 31.58% 35.14% 42.86%

1.01%

2.05%

3.13%

4.23%

5.36%

6.52%

7.73%

8.96% 11.55% 12.91% 14.32% 15.77% 18.82%

0.67%

1.36%

2.07%

2.79%

3.53%

4.29%

5.06%

5.86%

7.51%

8.37%

9.25% 10.16% 12.04%

0.51%

1.02%

1.55%

2.08%

2.63%

3.19%

3.77%

4.35%

5.56%

6.19%

6.83%

7.49%

8.86%

0.40%

0.82%

1.23%

1.66%

2.10%

2.54%

3.00%

3.46%

4.42%

4.91%

5.42%

5.93%

7.00%

0.34%

0.68%

1.03%

1.38%

1.74%

2.11%

2.49%

2.87%

3.66%

4.07%

4.49%

4.91%

5.79%

0.29%

0.58%

0.88%

1.18%

1.49%

1.81%

2.13%

2.46%

3.13%

3.48%

3.83%

4.19%

4.94%

0.25%

0.51%

0.77%

1.03%

1.30%

1.58%

1.86%

2.14%

2.73%

3.03%

3.34%

3.65%

4.30%

10

0.22%

0.45%

0.68%

0.92%

1.16%

1.40%

1.65%

1.90%

2.42%

2.69%

2.96%

3.24%

3.81%

11

0.20%

0.41%

0.61%

0.83%

1.04%

1.26%

1.48%

1.71%

2.18%

2.42%

2.66%

2.91%

3.42%

12

0.18%

0.37%

0.56%

0.75%

0.95%

1.15%

1.35%

1.55%

1.98%

2.19%

2.41%

2.64%

3.10%

15%

1.00%

Taxa Mxima Admissvel

8%

X,XX%
Y,YY%

10%

11%

12%

13%

15%

Pague a Prazo
Pague Vista

Prestaes s/ Entrada

Desconto p/ Pagamento Vista


1%

2%

3%

4%

5%

6%

7%

8%

10%

11%

12%

13%

0.67%

1.36%

2.05%

2.77%

3.49%

4.23%

4.98%

5.74%

7.32%

8.13%

8.96%

9.81% 11.55%

0.50%

1.02%

1.54%

2.07%

2.61%

3.16%

3.72%

4.29%

5.46%

6.06%

6.67%

7.30%

8.59%

0.40%

0.81%

1.23%

1.65%

2.08%

2.52%

2.97%

3.42%

4.35%

4.83%

5.32%

5.81%

6.83%

0.34%

0.68%

1.02%

1.38%

1.73%

2.10%

2.47%

2.85%

3.62%

4.01%

4.42%

4.83%

5.67%

0.29%

0.58%

0.88%

1.18%

1.49%

1.80%

2.11%

2.44%

3.10%

3.43%

3.78%

4.13%

4.85%

0.25%

0.51%

0.77%

1.03%

1.30%

1.57%

1.85%

2.13%

2.71%

3.00%

3.30%

3.61%

4.24%

0.22%

0.45%

0.68%

0.92%

1.15%

1.40%

1.64%

1.89%

2.40%

2.66%

2.93%

3.20%

3.76%

0.20%

0.41%

0.61%

0.82%

1.04%

1.26%

1.48%

1.70%

2.16%

2.40%

2.64%

2.88%

3.38%

10

0.18%

0.37%

0.56%

0.75%

0.94%

1.14%

1.34%

1.55%

1.96%

2.18%

2.39%

2.62%

3.07%

11

0.17%

0.34%

0.51%

0.69%

0.86%

1.05%

1.23%

1.42%

1.80%

1.99%

2.19%

2.40%

2.81%

12

0.15%

0.31%

0.47%

0.63%

0.80%

0.97%

1.13%

1.31%

1.66%

1.84%

2.02%

2.21%

2.59%

Taxa Mxima Admissvel

1.00%

X,XX%

Pague a Prazo

TAXA DE JURO DE UM FINANCIAMENTO


Taxa de Juro
aprox.
2

1.0%
1.5%
2.0%
2.5%
3.0%
3.5%
4.0%
4.5%
5.0%
5.5%
6.0%
6.5%
7.0%
7.5%
8.0%
8.5%
9.0%
9.5%
10.0%
10.5%
11.0%
11.5%
12.0%
12.5%
13.0%
13.5%
14.0%
14.5%
15.0%

Nmero de Prestaes fora a Entrada


2

1.97
1.96
1.94
1.93
1.91
1.90
1.89
1.87
1.86
1.85
1.83
1.82
1.81
1.80
1.78
1.77
1.76
1.75
1.74
1.72
1.71
1.70
1.69
1.68
1.67
1.66
1.65
1.64
1.63

2.94
2.91
2.88
2.86
2.83
2.80
2.78
2.75
2.72
2.70
2.67
2.65
2.62
2.60
2.58
2.55
2.53
2.51
2.49
2.47
2.44
2.42
2.40
2.38
2.36
2.34
2.32
2.30
2.28

3.90
3.85
3.81
3.76
3.72
3.67
3.63
3.59
3.55
3.51
3.47
3.43
3.39
3.35
3.31
3.28
3.24
3.20
3.17
3.14
3.10
3.07
3.04
3.01
2.97
2.94
2.91
2.88
2.85

4.85
4.78
4.71
4.65
4.58
4.52
4.45
4.39
4.33
4.27
4.21
4.16
4.10
4.05
3.99
3.94
3.89
3.84
3.79
3.74
3.70
3.65
3.60
3.56
3.52
3.47
3.43
3.39
3.35

6
5.80
5.70
5.60
5.51
5.42
5.33
5.24
5.16
5.08
5.00
4.92
4.84
4.77
4.69
4.62
4.55
4.49
4.42
4.36
4.29
4.23
4.17
4.11
4.05
4.00
3.94
3.89
3.84
3.78

8
7.65
7.49
7.33
7.17
7.02
6.87
6.73
6.60
6.46
6.33
6.21
6.09
5.97
5.86
5.75
5.64
5.53
5.43
5.33
5.24
5.15
5.06
4.97
4.88
4.80
4.72
4.64
4.56
4.49

9
8.57
8.36
8.16
7.97
7.79
7.61
7.44
7.27
7.11
6.95
6.80
6.66
6.52
6.38
6.25
6.12
6.00
5.88
5.76
5.65
5.54
5.43
5.33
5.23
5.13
5.04
4.95
4.86
4.77

10
9.47
9.22
8.98
8.75
8.53
8.32
8.11
7.91
7.72
7.54
7.36
7.19
7.02
6.86
6.71
6.56
6.42
6.28
6.14
6.01
5.89
5.77
5.65
5.54
5.43
5.32
5.22
5.12
5.02

11
10.37
10.07
9.79
9.51
9.25
9.00
8.76
8.53
8.31
8.09
7.89
7.69
7.50
7.32
7.14
6.97
6.81
6.65
6.50
6.35
6.21
6.07
5.94
5.81
5.69
5.57
5.45
5.34
5.23

12
11.26
10.91
10.58
10.26
9.95
9.66
9.39
9.12
8.86
8.62
8.38
8.16
7.94
7.74
7.54
7.34
7.16
6.98
6.81
6.65
6.49
6.34
6.19
6.05
5.92
5.79
5.66
5.54
5.42

15
13.87
13.34
12.85
12.38
11.94
11.52
11.12
10.74
10.38
10.04
9.71
9.40
9.11
8.83
8.56
8.30
8.06
7.83
7.61
7.39
7.19
7.00
6.81
6.63
6.46
6.30
6.14
5.99
5.85

17
15.56
14.91
14.29
13.71
13.17
12.65
12.17
11.71
11.27
10.86
10.48
10.11
9.76
9.43
9.12
8.83
8.54
8.28
8.02
7.78
7.55
7.33
7.12
6.92
6.73
6.55
6.37
6.21
6.05

18
16.40
15.67
14.99
14.35
13.75
13.19
12.66
12.16
11.69
11.25
10.83
10.43
10.06
9.71
9.37
9.06
8.76
8.47
8.20
7.95
7.70
7.47
7.25
7.04
6.84
6.65
6.47
6.29
6.13

19
17.23
16.43
15.68
14.98
14.32
13.71
13.13
12.59
12.09
11.61
11.16
10.73
10.34
9.96
9.60
9.27
8.95
8.65
8.36
8.10
7.84
7.60
7.37
7.15
6.94
6.74
6.55
6.37
6.20

20
18.05
17.17
16.35
15.59
14.88
14.21
13.59
13.01
12.46
11.95
11.47
11.02
10.59
10.19
9.82
9.46
9.13
8.81
8.51
8.23
7.96
7.71
7.47
7.24
7.02
6.82
6.62
6.44
6.26

23
20.46
19.33
18.29
17.33
16.44
15.62
14.86
14.15
13.49
12.88
12.30
11.77
11.27
10.81
10.37
9.96
9.58
9.22
8.88
8.57
8.27
7.98
7.72
7.47
7.23
7.00
6.79
6.59
6.40

24
21.24
20.03
18.91
17.88
16.94
16.06
15.25
14.50
13.80
13.15
12.55
11.99
11.47
10.98
10.53
10.10
9.71
9.33
8.98
8.66
8.35
8.06
7.78
7.53
7.28
7.05
6.84
6.63
6.43

35
29.41
27.08
25.00
23.15
21.49
20.00
18.66
17.46
16.37
15.39
14.50
13.69
12.95
12.27
11.65
11.09
10.57
10.09
9.64
9.23
8.86
8.50
8.18
7.87
7.59
7.32
7.07
6.84
6.62

36
30.11
27.66
25.49
23.56
21.83
20.29
18.91
17.67
16.55
15.54
14.62
13.79
13.04
12.35
11.72
11.14
10.61
10.13
9.68
9.26
8.88
8.52
8.19
7.88
7.60
7.33
7.08
6.84
6.62

47
37.35
33.55
30.29
27.47
25.02
22.90
21.04
19.41
17.98
16.71
15.59
14.59
13.69
12.89
12.16
11.51
10.92
10.38
9.89
9.44
9.02
8.64
8.29
7.97
7.67
7.39
7.13
6.88
6.66

48
37.97
34.04
30.67
27.77
25.27
23.09
21.20
19.54
18.08
16.79
15.65
14.64
13.73
12.92
12.19
11.53
10.93
10.39
9.90
9.44
9.03
8.65
8.30
7.97
7.67
7.39
7.13
6.89
6.66

59
44.40
38.97
34.46
30.68
27.51
24.82
22.53
20.57
18.88
17.41
16.13
15.01
14.02
13.15
12.37
11.67
11.04
10.48
9.96
9.50
9.07
8.68
8.32
7.99
7.69
7.40
7.14
6.89
6.66

60
44.96
39.38
34.76
30.91
27.68
24.94
22.62
20.64
18.93
17.45
16.16
15.03
14.04
13.16
12.38
11.68
11.05
10.48
9.97
9.50
9.07
8.68
8.32
7.99
7.69
7.40
7.14
6.89
6.67

71
50.66
43.50
37.74
33.07
29.25
26.09
23.46
21.25
19.37
17.78
16.40
15.21
14.17
13.25
12.45
11.73
11.09
10.51
9.99
9.52
9.09
8.69
8.33
8.00
7.69
7.41
7.14
6.90
6.67

72
51.15
43.84
37.98
33.24
29.37
26.17
23.52
21.29
19.40
17.80
16.42
15.22
14.18
13.26
12.45
11.73
11.09
10.51
9.99
9.52
9.09
8.69
8.33
8.00
7.69
7.41
7.14
6.90
6.67

83
56.21
47.29
40.34
34.85
30.47
26.93
24.04
21.65
19.65
17.97
16.53
15.30
14.23
13.30
12.48
11.75
11.10
10.52
10.00
9.52
9.09
8.69
8.33
8.00
7.69
7.41
7.14
6.90
6.67

84
56.65
47.58
40.53
34.97
30.55
26.98
24.07
21.67
19.67
17.98
16.54
15.31
14.24
13.30
12.48
11.75
11.10
10.52
10.00
9.52
9.09
8.69
8.33
8.00
7.69
7.41
7.14
6.90
6.67

TAXA DE JURO DE UM FINANCIAMENTO


Taxa de Juro
aprox.
2

16.0%
17.0%
18.0%
19.0%
20.0%
21.0%
22.0%
23.0%
24.0%
25.0%
26.0%
27.0%
28.0%
29.0%
30.0%
31.0%
32.0%
33.0%
34.0%
35.0%
36.0%
37.0%
38.0%
39.0%
40.0%
41.0%
42.0%
43.0%
44.0%

Nmero de Prestaes fora a Entrada


2
1.61
1.59
1.57
1.55
1.53
1.51
1.49
1.47
1.46
1.44
1.42
1.41
1.39
1.38
1.36
1.35
1.33
1.32
1.30
1.29
1.28
1.26
1.25
1.24
1.22
1.21
1.20
1.19
1.18

3
2.25
2.21
2.17
2.14
2.11
2.07
2.04
2.01
1.98
1.95
1.92
1.90
1.87
1.84
1.82
1.79
1.77
1.74
1.72
1.70
1.67
1.65
1.63
1.61
1.59
1.57
1.55
1.53
1.51

10

11

12

15

17

18

19

20

23

24

35

36

47

48

59

60

71

72

83

84

2.80
2.74
2.69
2.64
2.59
2.54
2.49
2.45
2.40
2.36
2.32
2.28
2.24
2.20
2.17
2.13
2.10
2.06
2.03
2.00
1.97
1.94
1.91
1.88
1.85
1.82
1.80
1.77
1.74

3.27
3.20
3.13
3.06
2.99
2.93
2.86
2.80
2.75
2.69
2.64
2.58
2.53
2.48
2.44
2.39
2.35
2.30
2.26
2.22
2.18
2.14
2.11
2.07
2.04
2.00
1.97
1.94
1.91

3.68
3.59
3.50
3.41
3.33
3.24
3.17
3.09
3.02
2.95
2.88
2.82
2.76
2.70
2.64
2.59
2.53
2.48
2.43
2.39
2.34
2.29
2.25
2.21
2.17
2.13
2.09
2.05
2.02

4.34
4.21
4.08
3.95
3.84
3.73
3.62
3.52
3.42
3.33
3.24
3.16
3.08
3.00
2.92
2.85
2.79
2.72
2.66
2.60
2.54
2.48
2.43
2.38
2.33
2.28
2.24
2.19
2.15

4.61
4.45
4.30
4.16
4.03
3.91
3.79
3.67
3.57
3.46
3.37
3.27
3.18
3.10
3.02
2.94
2.87
2.80
2.73
2.67
2.60
2.54
2.49
2.43
2.38
2.33
2.28
2.23
2.19

4.83
4.66
4.49
4.34
4.19
4.05
3.92
3.80
3.68
3.57
3.46
3.36
3.27
3.18
3.09
3.01
2.93
2.86
2.78
2.72
2.65
2.59
2.53
2.47
2.41
2.36
2.31
2.26
2.21

5.03
4.84
4.66
4.49
4.33
4.18
4.04
3.90
3.78
3.66
3.54
3.44
3.34
3.24
3.15
3.06
2.98
2.90
2.82
2.75
2.68
2.62
2.56
2.50
2.44
2.38
2.33
2.28
2.23

5.20
4.99
4.79
4.61
4.44
4.28
4.13
3.99
3.85
3.73
3.61
3.49
3.39
3.29
3.19
3.10
3.01
2.93
2.85
2.78
2.71
2.64
2.58
2.51
2.46
2.40
2.35
2.29
2.24

5.58
5.32
5.09
4.88
4.68
4.49
4.32
4.15
4.00
3.86
3.73
3.60
3.48
3.37
3.27
3.17
3.08
2.99
2.90
2.83
2.75
2.68
2.61
2.55
2.48
2.42
2.37
2.31
2.26

5.75
5.47
5.22
4.99
4.77
4.58
4.39
4.22
4.06
3.91
3.77
3.64
3.52
3.40
3.29
3.19
3.10
3.01
2.92
2.84
2.76
2.69
2.62
2.55
2.49
2.43
2.37
2.32
2.27

5.82
5.53
5.27
5.03
4.81
4.61
4.42
4.24
4.08
3.93
3.79
3.65
3.53
3.41
3.30
3.20
3.10
3.01
2.93
2.84
2.77
2.69
2.62
2.56
2.49
2.43
2.38
2.32
2.27

5.88
5.58
5.32
5.07
4.84
4.63
4.44
4.26
4.10
3.94
3.80
3.66
3.54
3.42
3.31
3.21
3.11
3.02
2.93
2.85
2.77
2.70
2.63
2.56
2.50
2.44
2.38
2.32
2.27

5.93
5.63
5.35
5.10
4.87
4.66
4.46
4.28
4.11
3.95
3.81
3.67
3.55
3.43
3.32
3.21
3.11
3.02
2.93
2.85
2.77
2.70
2.63
2.56
2.50
2.44
2.38
2.32
2.27

6.04
5.72
5.43
5.17
4.92
4.70
4.50
4.31
4.14
3.98
3.83
3.69
3.56
3.44
3.33
3.22
3.12
3.03
2.94
2.85
2.78
2.70
2.63
2.56
2.50
2.44
2.38
2.32
2.27

6.07
5.75
5.45
5.18
4.94
4.71
4.51
4.32
4.14
3.98
3.83
3.69
3.56
3.44
3.33
3.22
3.12
3.03
2.94
2.86
2.78
2.70
2.63
2.56
2.50
2.44
2.38
2.33
2.27

6.22
5.86
5.54
5.25
4.99
4.76
4.54
4.34
4.16
4.00
3.84
3.70
3.57
3.45
3.33
3.23
3.12
3.03
2.94
2.86
2.78
2.70
2.63
2.56
2.50
2.44
2.38
2.33
2.27

6.22
5.86
5.54
5.25
4.99
4.76
4.54
4.35
4.16
4.00
3.85
3.70
3.57
3.45
3.33
3.23
3.12
3.03
2.94
2.86
2.78
2.70
2.63
2.56
2.50
2.44
2.38
2.33
2.27

6.24
5.88
5.55
5.26
5.00
4.76
4.55
4.35
4.17
4.00
3.85
3.70
3.57
3.45
3.33
3.23
3.12
3.03
2.94
2.86
2.78
2.70
2.63
2.56
2.50
2.44
2.38
2.33
2.27

6.24
5.88
5.55
5.26
5.00
4.76
4.55
4.35
4.17
4.00
3.85
3.70
3.57
3.45
3.33
3.23
3.12
3.03
2.94
2.86
2.78
2.70
2.63
2.56
2.50
2.44
2.38
2.33
2.27

6.25
5.88
5.56
5.26
5.00
4.76
4.55
4.35
4.17
4.00
3.85
3.70
3.57
3.45
3.33
3.23
3.12
3.03
2.94
2.86
2.78
2.70
2.63
2.56
2.50
2.44
2.38
2.33
2.27

6.25
5.88
5.56
5.26
5.00
4.76
4.55
4.35
4.17
4.00
3.85
3.70
3.57
3.45
3.33
3.23
3.12
3.03
2.94
2.86
2.78
2.70
2.63
2.56
2.50
2.44
2.38
2.33
2.27

6.25
5.88
5.56
5.26
5.00
4.76
4.55
4.35
4.17
4.00
3.85
3.70
3.57
3.45
3.33
3.23
3.12
3.03
2.94
2.86
2.78
2.70
2.63
2.56
2.50
2.44
2.38
2.33
2.27

6.25
5.88
5.56
5.26
5.00
4.76
4.55
4.35
4.17
4.00
3.85
3.70
3.57
3.45
3.33
3.23
3.12
3.03
2.94
2.86
2.78
2.70
2.63
2.56
2.50
2.44
2.38
2.33
2.27

6.25
5.88
5.56
5.26
5.00
4.76
4.55
4.35
4.17
4.00
3.85
3.70
3.57
3.45
3.33
3.23
3.12
3.03
2.94
2.86
2.78
2.70
2.63
2.56
2.50
2.44
2.38
2.33
2.27

6.25
5.88
5.56
5.26
5.00
4.76
4.55
4.35
4.17
4.00
3.85
3.70
3.57
3.45
3.33
3.23
3.12
3.03
2.94
2.86
2.78
2.70
2.63
2.56
2.50
2.44
2.38
2.33
2.27

TAXAS DE JURO EQUIVALENTES

Tx Efetiva Mensal
Tx Efetiva Anual Equivalente

Tx Efetiva Anual
Tx Efetiva Mensal Equivalente

Elaborado p/ Prof. Breno de Campos

10.00%

am

213.84%

aa

7.50%

aa

0.6045%

am

Breno de Campos

FUNDO DE RENDA FIXA x POUPANA


Taxa SELIC/CDI

7.50%

aa

Taxa de Administrao

0.00%

aa

Prazo

Rentabilidade FI Bruta

7.50%

aa

At 180 dias

22.50%

Entre 181 e 360 dias

20.00%

IR (*)

15.00%

1.13%

Imposto de Renda
Alquota

Rentabilidade FI Lquida

6.38%

aa

Entre 361 e 720 dias

17.50%

Rentabilidade FI Lquida

0.52%

am

Acima de 720 dias

15.00%

Rentabilidade Poupana Nova

0.43%

am

Inflao anual

3.00%

0.25%

Rentabilidade FI Lquida Real

0.27%

am

Rentabilidade Poupana Lquida Real

0.18%

am

Tabela Progressiva para o clculo mensal do Imposto


sobre a Renda da Pessoa Fsica para o exerccio de
2013, ano-calendrio de 2012.
Base de clculo mensal
em R$

Alquota %

Parcela a deduzir do
imposto em R$

De 1.637,12 at 2.453,50

7.5

122.78

De 2.453,51 at 3.271,38

15

306.8

De 3.271,39 at 4.087,65

22.5

552.15

Acima de 4.087,65

27.5

756.53

At 1.637,11

FUNDO DE RENDA FIXA x POUPANA


Taxa SELIC/CDI
Percentual

aa
7.50%
100.00% aa
REMUNERAO LIQUIDA DO INVESTIMENTO
Imposto de Renda

Taxa Admin.

0.41%

22.50%

20.00%

17.50%

0.50%
1.00%
1.50%
2.00%
3.00%

Poupana Nova

Elaborado p/ Prof. Breno de Campos

0.43%

am

15.00%

Breno de Campos

7.50%
1%
6.50%
22.50%

1.46%
5.04%
0.41%

FUNDO DE PREVIDNCIA PRIVADA


Idade
Ingresso
Sada

25
55
80

0.50% am

Rentab. Mn. Garantida

360 Meses de Contribuio


300 Meses de Benefcio
1,000.00 Benefcio Desejado

RESERVA NECESSRIA

CONTRIBUIO MENSAL

-155,206.86

154.51

FUNDO DE PREVIDNCIA PRIVADA II


Idade
Ingresso
Sada

25
55
80

0.50% am

Rentab. Mn. Garantida

360 Meses de Contribuio


300 Meses de Benefcio
1,000.00 Benefcio Desejado

RESERVA NECESSRIA

CONTRIBUIO MENSAL

-155,206.86

154.51

FUNDO DE PREVIDNCIA PRIVADA


Rentab. (am)

0.40%
0.40%

Perodo de Contribuio
Perodo de Benefcio
Ingresso
Sada

Idade
50
60
80

120 Meses de Contribuio


240 Meses de Benefcio
5,000.00 Benefcio Desejado

APORTE INICIAL
RESERVA NECESSRIA

CONTRIBUIO MENSAL

300,000.00

484,358.35
770,466.51

1,862.30

FUNDO DE PREVIDNCIA PRIVADA


Rentab. Mn. Garantida

6.50% aa

Taxa de Carregamento
Taxa de Administrao

1.00%
2.00% aa

Ingresso
Sada
Expectativa de
Vida

Idade
25
55
80

360
300
5,000.00

Meses de Contribuio
Meses de Benefcio
Benefcio Desejado

RESERVA NECESSRIA

APORTE INICIAL s/ Carregamento


CONTRIBUIO MENSAL c/ Carregamento

50,000.00

Elaborado p/ Prof. Breno de Campos

Breno de Campos

RIVADA
0.3674809%
Taxa ao ms utilizada nos
clculos

de Contribuio
de Benefcio
cio Desejado
907,896.62
187,265.91

-974.36

TAXAS DE JURO REAL

Taxa de Juro Aparente

2,062.07%

ao perodo

Indexador

1,764.87%

ao perodo

15.94%

ao perodo

Taxa de Juro Real

Elaborado p/ Prof. Breno de Campos

Breno de Campos

TAXAS DE JURO NOMINAIS


Tx Nominal Anual
Perodicidade da
Capitalizao

12.00%
Nmero de
Capitalizaes

Taxa Efetiva
ao Perodo

Tx
Equivalente
Anual

Funo
=EFETIVA()

Anual

12.00%

12.00%

12.00%

Semestral

6.00%

12.36%

12.36%

Trimestral

3.00%

12.55%

12.55%

Mensal

12

1.0000%

12.68%

12.68%

Diria

365

0.0329%

12.75%

12.75%

Elaborado p/ Prof. Breno de Campos

Breno de Campos

SISTEMA DE CAPITALIZAO CONTNUA


Capital
Taxa de Juro (aa)
Prazo (anos)
Perodos de Capitalizao
Anual
Semestral
Mensal
Dirio
Horrio
p/ Minuto
p/ Segundo
Contnua

Elaborado p/ Prof. Breno de Campos

1
2
12
365
8,760
525,600
31,536,000

100,000.00
10.00%
3.00
Montante
133,100.00
134,009.56
134,818.18
134,980.33
134,985.65
134,985.88
134,985.88
134,985.88

Breno de Campos

CUSTO EFETIVO TOTAL


Valor do Financiamento
Taxa de Juro
Nmero de Prestaes
Valor da Prestao Vencida
TAC
Valor Disponvel
Funo TAXA : CET (am)
CET (aa)

Elaborado p/ Prof. Breno de Campos

1,000.00
5.00%
12
-112.83

n
PMT

100.00
900.00

PV

6.92%
123.21%

Breno de Campos

TAXA OVER
7.50%

Taxa SELIC anual


Tx Efetiva Diria Equivalente

0.0287%

Taxa "Over" mensal

0.8611%

Dias teis no ano

252

0.6045%

Tx Efetiva Mensal Equivalente


Dias teis no ms

Elaborado p/ Prof. Breno de Campos

21

Breno de Campos

TAXAS DE JURO
Taxa Aparente "Nominal"

Indexador

Taxa Real

Taxa Bruta

Imposto

Taxa Lquida

IGP-M / IPC-A

Lquida

7.50%

0.00%

7.50%

5.00%

2.38%

Taxa Real s/ Risco (Exterior)

1.00%

Prmio p/ Risco Brasil

1.37%

FORMAO DA TAXA DE JURO


Taxa Aparente "Nominal" = SELIC ??

8.60%

Indexador

Taxa Real

IGP-M / IPC-A

Lquida

5.00%

3.43%

Taxa Real s/ Risco (Exterior)

1.70%

Prmio p/ Risco

1.70%

Elaborado p/ Prof. Breno de Campos

Breno de Campos

TAXA REAL LQUIDA - Efeito da Inflao


Investimento
Taxa Real Bruta
Inflao

Resgate Bruto

100,000.00

Imposto de Renda (*)

20.0%

3.00%
IR

Resgate
Liquido

Valor Presente
@ Tx Inflao

Taxa Nominal
Lquida

Taxa Real
Lquida

0.0%

103,000.00

600.00

102,400.00

102,400.00

2.40%

2.40%

5.0%

108,150.00

1,630.00

106,520.00

101,447.62

6.52%

1.45%

10.0%

113,300.00

2,660.00

110,640.00

100,581.82

10.64%

0.58%

20.0%

123,600.00

4,720.00

118,880.00

99,066.67

18.88%

-0.93%

50.0%

154,500.00

10,900.00

143,600.00

95,733.33

43.60%

-4.27%

100.0%

206,000.00

21,200.00

184,800.00

92,400.00

84.80%

-7.60%

(*) Alquota regressiva entre 22,5% e 15% sobre os Rendimentos (Investimento - Resgate Bruto)

SISTEMA DE CAP CONTINUA


Capital
Prazo
Taxa de Juro

Montante
Funo VF

Elaborado p/ Breno de Campos


Breno de Campos

100,000.00 R$
3.0 anos
10.0% aa

PV
n
i

Sistema de Capitalizao
Composta
Continua
133,100.00
134,985.88
-133,100.00

FV

Breno de Campos

DEBNTURES
Valor de Face
Coupon
Prazo

1,000,000.00
5.00% aa
3 anos

Rentabilidade (Yield)
Valor de Mercado
Perc. Vlr. Face
Desgio

Semestres

0
1
2
3
4
5
6

9.07% aa
900,000.00
90.00%
10.00%

Fluxo de
Caixa da
Debnture
0.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
1,025,000.00

2.50% as
6 sem

4.43% as

Fluxo de Caixa
do Investidor
-900,000.00
25,000.00
25,000.00
25,000.00
25,000.00
25,000.00
1,025,000.00

DEBNTURES II
Anos

Fluxo de Caixa
da Debnture A

Fluxo de Caixa da
Debnture B

-885,838.99
100,000.00
100,000.00
1,100,000.00

-810,778.45
100,000.00
100,000.00
100,000.00
100,000.00
100,000.00
1,100,000.00

Yield (aa)

15.00%

15.00%

0
1
2
3
4
5

DESCONTO
DESCONTO COMPOSTO
Valor do Ttulo

1,000.00

Prazo
Taxa de Desconto
Valor do Resgate

45 dias
4.00% am

Meses

942.87
Custo Efetivo

Valor do Desconto

1.5000

4.00% am

57.13

DESCONTO RACIONAL (por dentro)


Valor do Ttulo

1,000.00

Prazo
Taxa de Desconto
Valor do Resgate

45 dias
4.00% am

Meses

1.5000

943.40
Custo Efetivo

Valor do Desconto

3.96% am

56.60

DESCONTO BANCRIO (por fora)


Valor do Ttulo

1,000.00

Prazo
Taxa de Desconto
Valor do Resgate

45 dias
4.00% am

Meses

940.00
Custo Efetivo

Valor do Desconto

4.21% am

60.00

DESCONTO - RESUMO
Tipo do Desconto :
Desconto
Valor Resgate
Custo Efetivo

1.5000

COMPOSTO
57.13
942.87
4.00%

Por Dentro
56.60
943.40
3.96%

Por Fora
60.00
940.00
4.21%

Saldo Mdio
0%
10%
20%
30%
40%
50%

10/04/2015

0
4.21%
4.71%
5.33%
6.16%
7.28%
8.90%

Dias de "Float"
1
2
3
4.31%
4.41%
4.52%
4.82%
4.93%
5.05%
5.46%
5.59%
5.73%
6.30%
6.45%
6.61%
7.45%
7.63%
7.82%
9.11%
9.33%
9.56%

288696880.xlsx / RECIP

4
4.63%
5.18%
5.87%
6.78%
8.01%
9.81%

5
4.75%
5.31%
6.02%
6.95%
8.22%
10.06%

FINANCIAMENTO S/ PAGTO JURO


Taxa de juros

10.0% am

Prestaes
0
1
2
3
4

Juros no Pagos

4 meses

Meses Saldo Devedor


10,000.00
11,000.00
12,100.00
13,310.00
0.00
Total

Elaborado p/ Prof. Breno de Campos

Breno de Campos

Juro

Amortizao

Prestao

1,000.00
1,100.00
1,210.00
1,331.00
4,641.00

13,310.00
13,310.00

0.00
0.00
0.00
14,641.00
14,641.00

FINANCIAMENTO C/ PAGTO JURO


Taxa de juros

10.0% am

Prestaes

4 meses

Meses Saldo Devedor


0
1
2
3
4

10,000.00
10,000.00
10,000.00
10,000.00
0.00
Total

Elaborado p/ Prof. Breno de Campos

Breno de Campos

Juro

Amortizao

Prestao

1,000.00
1,000.00
1,000.00
1,000.00
4,000.00

10,000.00
10,000.00

1,000.00
1,000.00
1,000.00
11,000.00
14,000.00

FINANCIAMENTO PRICE
Taxa de juros

10.0% am

Prestaes

4 meses

Meses Saldo Devedor


0
1
2
3
4

10,000.00
7,845.29
5,475.11
2,867.92
0.00
Total

Juro

Amortizao

Prestao

1,000.00
784.53
547.51
286.79
2,618.83

2,154.71
2,370.18
2,607.20
2,867.92
10,000.00

3,154.71
3,154.71
3,154.71
3,154.71
12,618.83

FINANCIAMENTO PRICE
Taxa de juros
Prestaes
Meses Saldo Devedor
0
48,000.00
1
47,540.27
2
47,066.74
3
46,579.01
4
46,076.65
5
45,559.21
6
45,026.26
7
44,477.31
8
43,911.90
9
43,329.52
10
42,729.67
11
42,111.83
12
41,475.45
13
40,819.98
14
40,144.85
15
39,449.46
16
38,733.21
17
37,995.48
18
37,235.61
19
36,452.94
20
35,646.80
21
34,816.47
22
33,961.23
23
33,080.33
24
32,173.01
25
31,238.47
26
30,275.89
27
29,284.43
28
28,263.23
29
27,211.40
30
26,128.00
31
25,012.11
32
23,862.74
33
22,678.89
34
21,459.52
35
20,203.58
36
18,909.95
37
17,577.52
38
16,205.11
39
14,791.53
40
13,335.54
41
11,835.88
42
10,291.22
43
8,700.22
44
7,061.50
45
5,373.61
46
3,635.08
47
1,844.40
48
0.00
Total

Elaborado p/ Prof. Breno de Campos

Breno de Campos

3.0% am
48 meses
Juro Amortizao Prestao
1,440.00
1,426.21
1,412.00
1,397.37
1,382.30
1,366.78
1,350.79
1,334.32
1,317.36
1,299.89
1,281.89
1,263.35
1,244.26
1,224.60
1,204.35
1,183.48
1,162.00
1,139.86
1,117.07
1,093.59
1,069.40
1,044.49
1,018.84
992.41
965.19
937.15
908.28
878.53
847.90
816.34
783.84
750.36
715.88
680.37
643.79
606.11
567.30
527.33
486.15
443.75
400.07
355.08
308.74
261.01
211.84
161.21
109.05
55.33
43,187.19

459.73
473.53
487.73
502.36
517.43
532.96
548.95
565.41
582.38
599.85
617.84
636.38
655.47
675.13
695.39
716.25
737.74
759.87
782.66
806.14
830.33
855.24
880.90
907.32
934.54
962.58
991.46
1,021.20
1,051.84
1,083.39
1,115.89
1,149.37
1,183.85
1,219.37
1,255.95
1,293.63
1,332.43
1,372.41
1,413.58
1,455.99
1,499.67
1,544.66
1,591.00
1,638.73
1,687.89
1,738.52
1,790.68
1,844.40
48,000.00

1,899.73
1,899.73
1,899.73
1,899.73
1,899.73
1,899.73
1,899.73
1,899.73
1,899.73
1,899.73
1,899.73
1,899.73
1,899.73
1,899.73
1,899.73
1,899.73
1,899.73
1,899.73
1,899.73
1,899.73
1,899.73
1,899.73
1,899.73
1,899.73
1,899.73
1,899.73
1,899.73
1,899.73
1,899.73
1,899.73
1,899.73
1,899.73
1,899.73
1,899.73
1,899.73
1,899.73
1,899.73
1,899.73
1,899.73
1,899.73
1,899.73
1,899.73
1,899.73
1,899.73
1,899.73
1,899.73
1,899.73
1,899.73
91,187.19

FINANCIAMENTO SAC
Taxa de juros

10.0% am

Prestaes

4 meses

Meses Saldo Devedor


0
1
2
3
4

10,000.00
7,500.00
5,000.00
2,500.00
0.00
Total

Juro

Amortizao

Prestao

1,000.00
750.00
500.00
250.00
2,500.00

2,500.00
2,500.00
2,500.00
2,500.00
10,000.00

3,500.00
3,250.00
3,000.00
2,750.00
12,500.00

FINANCIAMENTO SAC
Taxa de juros
Prestaes
Meses Saldo Devedor
0
48,000.00
1
47,000.00
2
46,000.00
3
45,000.00
4
44,000.00
5
43,000.00
6
42,000.00
7
41,000.00
8
40,000.00
9
39,000.00
10
38,000.00
11
37,000.00
12
36,000.00
13
35,000.00
14
34,000.00
15
33,000.00
16
32,000.00
17
31,000.00
18
30,000.00
19
29,000.00
20
28,000.00
21
27,000.00
22
26,000.00
23
25,000.00
24
24,000.00
25
23,000.00
26
22,000.00
27
21,000.00
28
20,000.00
29
19,000.00
30
18,000.00
31
17,000.00
32
16,000.00
33
15,000.00
34
14,000.00
35
13,000.00
36
12,000.00
37
11,000.00
38
10,000.00
39
9,000.00
40
8,000.00
41
7,000.00
42
6,000.00
43
5,000.00
44
4,000.00
45
3,000.00
46
2,000.00
47
1,000.00
48
0.00
Total

Elaborado p/ Prof. Breno de Campos

Breno de Campos

3.0% am
48 meses
Juro Amortizao Prestao
1,440.00
1,410.00
1,380.00
1,350.00
1,320.00
1,290.00
1,260.00
1,230.00
1,200.00
1,170.00
1,140.00
1,110.00
1,080.00
1,050.00
1,020.00
990.00
960.00
930.00
900.00
870.00
840.00
810.00
780.00
750.00
720.00
690.00
660.00
630.00
600.00
570.00
540.00
510.00
480.00
450.00
420.00
390.00
360.00
330.00
300.00
270.00
240.00
210.00
180.00
150.00
120.00
90.00
60.00
30.00
35,280.00

1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
1,000.00
48,000.00

2,440.00
2,410.00
2,380.00
2,350.00
2,320.00
2,290.00
2,260.00
2,230.00
2,200.00
2,170.00
2,140.00
2,110.00
2,080.00
2,050.00
2,020.00
1,990.00
1,960.00
1,930.00
1,900.00
1,870.00
1,840.00
1,810.00
1,780.00
1,750.00
1,720.00
1,690.00
1,660.00
1,630.00
1,600.00
1,570.00
1,540.00
1,510.00
1,480.00
1,450.00
1,420.00
1,390.00
1,360.00
1,330.00
1,300.00
1,270.00
1,240.00
1,210.00
1,180.00
1,150.00
1,120.00
1,090.00
1,060.00
1,030.00
83,280.00

FINANCIAMENTO SAM
Taxa de juros

10.0% am

Prestaes

4 meses

Meses Saldo Devedor


0
1
2
3
4

10,000.00
7,672.65
5,237.56
2,683.96
0.00
Total

Juro

Amortizao

Prestao

1,000.00
767.26
523.76
268.40
2,559.42

2,327.35
2,435.09
2,553.60
2,683.96
10,000.00

3,327.35
3,202.35
3,077.35
2,952.35
12,559.42

FINANCIAMENTO SAM
Taxa de juros
Prestaes
Meses Saldo Devedor
0
48,000.00
1
47,270.13
2
46,533.37
3
45,789.51
4
45,038.32
5
44,279.61
6
43,513.13
7
42,738.66
8
41,955.95
9
41,164.76
10
40,364.84
11
39,555.92
12
38,737.73
13
37,909.99
14
37,072.43
15
36,224.73
16
35,366.61
17
34,497.74
18
33,617.80
19
32,726.47
20
31,823.40
21
30,908.23
22
29,980.62
23
29,040.17
24
28,086.51
25
27,119.23
26
26,137.94
27
25,142.22
28
24,131.62
29
23,105.70
30
22,064.00
31
21,006.06
32
19,931.37
33
18,839.45
34
17,729.76
35
16,601.79
36
15,454.98
37
14,288.76
38
13,102.55
39
11,895.76
40
10,667.77
41
9,417.94
42
8,145.61
43
6,850.11
44
5,530.75
45
4,186.80
46
2,817.54
47
1,422.20
48
0.00
Total

Elaborado p/ Prof. Breno de Campos

Breno de Campos

3.0% am
48 meses
Juro Amortizao Prestao
1,440.00
1,418.10
1,396.00
1,373.69
1,351.15
1,328.39
1,305.39
1,282.16
1,258.68
1,234.94
1,210.95
1,186.68
1,162.13
1,137.30
1,112.17
1,086.74
1,061.00
1,034.93
1,008.53
981.79
954.70
927.25
899.42
871.21
842.60
813.58
784.14
754.27
723.95
693.17
661.92
630.18
597.94
565.18
531.89
498.05
463.65
428.66
393.08
356.87
320.03
282.54
244.37
205.50
165.92
125.60
84.53
42.67
39,233.60

729.87
736.76
743.87
751.18
758.72
766.48
774.47
782.71
791.19
799.92
808.92
818.19
827.73
837.57
847.69
858.12
868.87
879.93
891.33
903.07
915.16
927.62
940.45
953.66
967.27
981.29
995.73
1,010.60
1,025.92
1,041.70
1,057.95
1,074.68
1,091.93
1,109.68
1,127.97
1,146.81
1,166.22
1,186.20
1,206.79
1,227.99
1,249.83
1,272.33
1,295.50
1,319.36
1,343.94
1,369.26
1,395.34
1,422.20
48,000.00

2,169.87
2,154.87
2,139.87
2,124.87
2,109.87
2,094.87
2,079.87
2,064.87
2,049.87
2,034.87
2,019.87
2,004.87
1,989.87
1,974.87
1,959.87
1,944.87
1,929.87
1,914.87
1,899.87
1,884.87
1,869.87
1,854.87
1,839.87
1,824.87
1,809.87
1,794.87
1,779.87
1,764.87
1,749.87
1,734.87
1,719.87
1,704.87
1,689.87
1,674.87
1,659.87
1,644.87
1,629.87
1,614.87
1,599.87
1,584.87
1,569.87
1,554.87
1,539.87
1,524.87
1,509.87
1,494.87
1,479.87
1,464.87
87,233.60

FINANCIAMENTO SACRE
Taxa de juros

3.0% am

Prestaes
Meses
0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48

48 meses
Saldo Devedor
48,000.00
47,000.00
45,970.00
44,909.10
43,816.37
42,690.86
41,531.59
40,337.54
39,107.66
37,840.89
36,536.12
35,192.20
33,807.97
32,868.86
31,901.58
30,905.27
29,879.08
28,822.11
27,733.42
26,612.07
25,457.09
24,267.45
23,042.12
21,780.04
20,480.09
19,626.75
18,747.82
17,842.51
16,910.05
15,949.61
14,960.36
13,941.43
12,891.93
11,810.95
10,697.54
9,550.72
8,369.50
7,672.05
6,953.66
6,213.73
5,451.60
4,666.60
3,858.06
3,025.25
2,167.47
1,283.95
373.92
Total

Elaborado p/ Prof. Breno de Campos

Breno de Campos

Juro Amortizao
1,440.00
1,410.00
1,379.10
1,347.27
1,314.49
1,280.73
1,245.95
1,210.13
1,173.23
1,135.23
1,096.08
1,055.77
1,014.24
986.07
957.05
927.16
896.37
864.66
832.00
798.36
763.71
728.02
691.26
653.40
614.40
588.80
562.43
535.28
507.30
478.49
448.81
418.24
386.76
354.33
320.93
286.52
251.09
230.16
208.61
186.41
163.55
140.00
115.74
90.76
65.02
38.52
11.22
32,203.65

1,000.00
1,030.00
1,060.90
1,092.73
1,125.51
1,159.27
1,194.05
1,229.87
1,266.77
1,304.77
1,343.92
1,384.23
939.11
967.28
996.30
1,026.19
1,056.98
1,088.69
1,121.35
1,154.99
1,189.64
1,225.33
1,262.09
1,299.95
853.34
878.94
905.31
932.46
960.44
989.25
1,018.93
1,049.50
1,080.98
1,113.41
1,146.81
1,181.22
697.46
718.38
739.93
762.13
785.00
808.55
832.80
857.79
883.52
910.03
373.92
48,000.00

Prestao
2,440.00
2,440.00
2,440.00
2,440.00
2,440.00
2,440.00
2,440.00
2,440.00
2,440.00
2,440.00
2,440.00
2,440.00
1,953.35
1,953.35
1,953.35
1,953.35
1,953.35
1,953.35
1,953.35
1,953.35
1,953.35
1,953.35
1,953.35
1,953.35
1,467.74
1,467.74
1,467.74
1,467.74
1,467.74
1,467.74
1,467.74
1,467.74
1,467.74
1,467.74
1,467.74
1,467.74
948.54
948.54
948.54
948.54
948.54
948.54
948.54
948.54
948.54
948.54
385.14
80,203.65

SISTEMAS DE AMORTIZAO
50,000
45,000
40,000
35,000

PRICE

30,000

SAC

25,000

SAM

SACRE

20,000
15,000
10,000
5,000
-

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46
PRICE

Elaborado p/ Prof. Breno de Campos

SAC

SAM

PRICE
0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42

48,000.00
47,540.27
47,066.74
46,579.01
46,076.65
45,559.21
45,026.26
44,477.31
43,911.90
43,329.52
42,729.67
42,111.83
41,475.45
40,819.98
40,144.85
39,449.46
38,733.21
37,995.48
37,235.61
36,452.94
35,646.80
34,816.47
33,961.23
33,080.33
32,173.01
31,238.47
30,275.89
29,284.43
28,263.23
27,211.40
26,128.00
25,012.11
23,862.74
22,678.89
21,459.52
20,203.58
18,909.95
17,577.52
16,205.11
14,791.53
13,335.54
11,835.88
10,291.22

SAC

SAM

48,000.00
47,000.00
46,000.00
45,000.00
44,000.00
43,000.00
42,000.00
41,000.00
40,000.00
39,000.00
38,000.00
37,000.00
36,000.00
35,000.00
34,000.00
33,000.00
32,000.00
31,000.00
30,000.00
29,000.00
28,000.00
27,000.00
26,000.00
25,000.00
24,000.00
23,000.00
22,000.00
21,000.00
20,000.00
19,000.00
18,000.00
17,000.00
16,000.00
15,000.00
14,000.00
13,000.00
12,000.00
11,000.00
10,000.00
9,000.00
8,000.00
7,000.00
6,000.00

48,000.00
47,270.13
46,533.37
45,789.51
45,038.32
44,279.61
43,513.13
42,738.66
41,955.95
41,164.76
40,364.84
39,555.92
38,737.73
37,909.99
37,072.43
36,224.73
35,366.61
34,497.74
33,617.80
32,726.47
31,823.40
30,908.23
29,980.62
29,040.17
28,086.51
27,119.23
26,137.94
25,142.22
24,131.62
23,105.70
22,064.00
21,006.06
19,931.37
18,839.45
17,729.76
16,601.79
15,454.98
14,288.76
13,102.55
11,895.76
10,667.77
9,417.94
8,145.61

SACRE
48,000.00
47,000.00
45,970.00
44,909.10
43,816.37
42,690.86
41,531.59
40,337.54
39,107.66
37,840.89
36,536.12
35,192.20
33,807.97
32,868.86
31,901.58
30,905.27
29,879.08
28,822.11
27,733.42
26,612.07
25,457.09
24,267.45
23,042.12
21,780.04
20,480.09
19,626.75
18,747.82
17,842.51
16,910.05
15,949.61
14,960.36
13,941.43
12,891.93
11,810.95
10,697.54
9,550.72
8,369.50
7,672.05
6,953.66
6,213.73
5,451.60
4,666.60
3,858.06

43
44
45
46
47
48

8,700.22
7,061.50
5,373.61
3,635.08
1,844.40
(0.00)

5,000.00
4,000.00
3,000.00
2,000.00
1,000.00
-

Breno de Campos

6,850.11
5,530.75
4,186.80
2,817.54
1,422.20
-

3,025.25
2,167.47
1,283.95
373.92
-

3 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49

SISTEMA DE AMORTIZAES LIVRES


Taxa de juros

10.0% am

Prestaes

4 meses

Meses Saldo Devedor


0
1
2
3
4

10,000.00
11,000.00
8,100.00
5,910.00
0.00
Total

Elaborado p/ Prof. Breno de Campos

Breno de Campos

Juro
1,000.00
1,100.00
810.00
591.00
3,501.00

Amortizao Prestao
###
(1,000.00)
2,900.00
2,190.00
5,910.00
10,000.00

0.00
4,000.00
3,000.00
6,501.00
13,501.00

FINANCIAMENTO IMOBILIRIO (Exponencial)


Taxa de juros

1.0% am

Nmero de Prestaes
Valor Base da Prestao
Meses

Saldo Devedor

0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48

48,000.00
47,470.00
46,924.60
46,363.55
45,786.58
45,193.43
44,583.85
43,957.55
43,314.27
42,653.73
41,975.64
41,279.73
40,565.70
39,833.26
39,082.12
38,311.98
37,522.52
36,713.44
35,884.42
35,035.16
34,165.32
33,274.58
32,362.61
31,429.08
30,473.63
29,495.94
28,495.64
27,472.39
26,425.82
25,355.57
24,261.28
23,142.57
21,999.05
20,830.35
19,636.08
18,415.84
17,169.23
15,895.84
14,595.27
13,267.10
11,910.91
10,526.27
9,112.74
7,669.89
6,197.27
4,694.43
3,160.92
1,596.26
(0.00)
Total

48 meses
1,000.00
Juro Amortizao

Fator Exp.

Prestao

1.0000

480.00
474.70
469.25
463.64
457.87
451.93
445.84
439.58
433.14
426.54
419.76
412.80
405.66
398.33
390.82
383.12
375.23
367.13
358.84
350.35
341.65
332.75
323.63
314.29
304.74
294.96
284.96
274.72
264.26
253.56
242.61
231.43
219.99
208.30
196.36
184.16
171.69
158.96
145.95
132.67
119.11
105.26
91.13
76.70
61.97
46.94
31.61
15.96
13,834.83

530.00
545.40
561.06
576.97
593.14
609.59
626.30
643.28
660.54
678.08
695.91
714.03
732.44
751.14
770.15
789.46
809.08
829.01
849.26
869.84
890.74
911.97
933.54
955.44
977.70
1,000.30
1,023.25
1,046.57
1,070.25
1,094.29
1,118.71
1,143.52
1,168.70
1,194.27
1,220.24
1,246.61
1,273.38
1,300.57
1,328.17
1,356.19
1,384.64
1,413.53
1,442.85
1,472.62
1,502.84
1,533.51
1,564.65
1,596.26
48,000.00

1.0100
1.0201
1.0303
1.0406
1.0510
1.0615
1.0721
1.0829
1.0937
1.1046
1.1157
1.1268
1.1381
1.1495
1.1610
1.1726
1.1843
1.1961
1.2081
1.2202
1.2324
1.2447
1.2572
1.2697
1.2824
1.2953
1.3082
1.3213
1.3345
1.3478
1.3613
1.3749
1.3887
1.4026
1.4166
1.4308
1.4451
1.4595
1.4741
1.4889
1.5038
1.5188
1.5340
1.5493
1.5648
1.5805
1.5963
1.6122

1,010.00
1,020.10
1,030.30
1,040.60
1,051.01
1,061.52
1,072.14
1,082.86
1,093.69
1,104.62
1,115.67
1,126.83
1,138.09
1,149.47
1,160.97
1,172.58
1,184.30
1,196.15
1,208.11
1,220.19
1,232.39
1,244.72
1,257.16
1,269.73
1,282.43
1,295.26
1,308.21
1,321.29
1,334.50
1,347.85
1,361.33
1,374.94
1,388.69
1,402.58
1,416.60
1,430.77
1,445.08
1,459.53
1,474.12
1,488.86
1,503.75
1,518.79
1,533.98
1,549.32
1,564.81
1,580.46
1,596.26
1,612.23
61,834.83

FINANCIAMENTO IMOBILIRIO (Linear)


Taxa de juros

1.00% am

Nmero de Prestaes
Valor Base da Prestao
Meses

Saldo Devedor

0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48

48,000.00
47,470.00
46,924.70
46,363.95
45,787.59
45,195.46
44,587.42
43,963.29
43,322.92
42,666.15
41,992.81
41,302.74
40,595.77
39,871.73
39,130.45
38,371.75
37,595.47
36,801.42
35,989.44
35,159.33
34,310.92
33,444.03
32,558.47
31,654.06
30,730.60
29,787.90
28,825.78
27,844.04
26,842.48
25,820.91
24,779.12
23,716.91
22,634.08
21,530.42
20,405.72
19,259.78
18,092.38
16,903.30
15,692.33
14,459.26
13,203.85
11,925.89
10,625.15
9,301.40
7,954.41
6,583.96
5,189.80
3,771.69
2,329.41
Total

Elaborado p/ Prof. Breno de Campos

Breno de Campos

48 meses
1,000.00
Juro Amortizao

Fator Lin.

Prestao

1.000

480.00
474.70
469.25
463.64
457.88
451.95
445.87
439.63
433.23
426.66
419.93
413.03
405.96
398.72
391.30
383.72
375.95
368.01
359.89
351.59
343.11
334.44
325.58
316.54
307.31
297.88
288.26
278.44
268.42
258.21
247.79
237.17
226.34
215.30
204.06
192.60
180.92
169.03
156.92
144.59
132.04
119.26
106.25
93.01
79.54
65.84
51.90
37.72
14,089.41

530.00
545.30
560.75
576.36
592.12
608.05
624.13
640.37
656.77
673.34
690.07
706.97
724.04
741.28
758.70
776.28
794.05
811.99
830.11
848.41
866.89
885.56
904.42
923.46
942.69
962.12
981.74
1,001.56
1,021.58
1,041.79
1,062.21
1,082.83
1,103.66
1,124.70
1,145.94
1,167.40
1,189.08
1,210.97
1,233.08
1,255.41
1,277.96
1,300.74
1,323.75
1,346.99
1,370.46
1,394.16
1,418.10
1,442.28
45,670.59

1.010
1.020
1.030
1.040
1.050
1.060
1.070
1.080
1.090
1.100
1.110
1.120
1.130
1.140
1.150
1.160
1.170
1.180
1.190
1.200
1.210
1.220
1.230
1.240
1.250
1.260
1.270
1.280
1.290
1.300
1.310
1.320
1.330
1.340
1.350
1.360
1.370
1.380
1.390
1.400
1.410
1.420
1.430
1.440
1.450
1.460
1.470
1.480

1,010.00
1,020.00
1,030.00
1,040.00
1,050.00
1,060.00
1,070.00
1,080.00
1,090.00
1,100.00
1,110.00
1,120.00
1,130.00
1,140.00
1,150.00
1,160.00
1,170.00
1,180.00
1,190.00
1,200.00
1,210.00
1,220.00
1,230.00
1,240.00
1,250.00
1,260.00
1,270.00
1,280.00
1,290.00
1,300.00
1,310.00
1,320.00
1,330.00
1,340.00
1,350.00
1,360.00
1,370.00
1,380.00
1,390.00
1,400.00
1,410.00
1,420.00
1,430.00
1,440.00
1,450.00
1,460.00
1,470.00
1,480.00
59,760.00

FINANCIAMENTO HABITACIONAL - PRICE


Taxa de juros

9.0% aa
0.75% am

Prestaes
Meses
0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27

180 meses
Saldo Dev.

Juro

40,000.00
39,894.29
39,787.79
39,680.50
39,572.39
39,463.48
39,353.75
39,243.20
39,131.81
39,019.59
38,906.53
38,792.63
38,677.87
38,562.24
38,445.75
38,328.39
38,210.15
38,091.01
37,970.99
37,850.07
37,728.24
37,605.49
37,481.83
37,357.23
37,231.70
37,105.24
36,977.82
36,849.45

300.00
299.21
298.41
297.60
296.79
295.98
295.15
294.32
293.49
292.65
291.80
290.94
290.08
289.22
288.34
287.46
286.58
285.68
284.78
283.88
282.96
282.04
281.11
280.18
279.24
278.29
277.33

Amortiz. Prestao
105.71
106.50
107.30
108.10
108.91
109.73
110.55
111.38
112.22
113.06
113.91
114.76
115.62
116.49
117.36
118.24
119.13
120.02
120.92
121.83
122.74
123.67
124.59
125.53
126.47
127.42
128.37

405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71

28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63

36,720.11
36,589.80
36,458.52
36,326.25
36,192.99
36,058.73
35,923.47
35,787.19
35,649.88
35,511.55
35,372.18
35,231.77
35,090.30
34,947.77
34,804.17
34,659.50
34,513.74
34,366.88
34,218.93
34,069.86
33,919.68
33,768.37
33,615.93
33,462.34
33,307.60
33,151.70
32,994.63
32,836.38
32,676.95
32,516.32
32,354.49
32,191.44
32,027.17
31,861.67
31,694.92
31,526.93

276.37
275.40
274.42
273.44
272.45
271.45
270.44
269.43
268.40
267.37
266.34
265.29
264.24
263.18
262.11
261.03
259.95
258.85
257.75
256.64
255.52
254.40
253.26
252.12
250.97
249.81
248.64
247.46
246.27
245.08
243.87
242.66
241.44
240.20
238.96
237.71

129.34
130.31
131.28
132.27
133.26
134.26
135.27
136.28
137.30
138.33
139.37
140.42
141.47
142.53
143.60
144.68
145.76
146.85
147.96
149.06
150.18
151.31
152.44
153.59
154.74
155.90
157.07
158.25
159.43
160.63
161.83
163.05
164.27
165.50
166.74
167.99

405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71

64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99

31,357.67
31,187.15
31,015.34
30,842.25
30,667.86
30,492.17
30,315.15
30,136.81
29,957.13
29,776.10
29,593.71
29,409.96
29,224.83
29,038.31
28,850.39
28,661.06
28,470.31
28,278.13
28,084.51
27,889.44
27,692.90
27,494.89
27,295.40
27,094.41
26,891.91
26,687.89
26,482.34
26,275.25
26,066.61
25,856.40
25,644.62
25,431.25
25,216.28
24,999.69
24,781.48
24,561.64

236.45
235.18
233.90
232.62
231.32
230.01
228.69
227.36
226.03
224.68
223.32
221.95
220.57
219.19
217.79
216.38
214.96
213.53
212.09
210.63
209.17
207.70
206.21
204.72
203.21
201.69
200.16
198.62
197.06
195.50
193.92
192.33
190.73
189.12
187.50
185.86

169.25
170.52
171.80
173.09
174.39
175.70
177.02
178.34
179.68
181.03
182.39
183.75
185.13
186.52
187.92
189.33
190.75
192.18
193.62
195.07
196.54
198.01
199.49
200.99
202.50
204.02
205.55
207.09
208.64
210.21
211.78
213.37
214.97
216.58
218.21
219.85

405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71

100
101
102
103
104
105
106
107
108
109
110
111
112
113
114
115
116
117
118
119
120
121
122
123
124
125
126
127
128
129
130
131
132
133
134
135

24,340.14
24,116.99
23,892.16
23,665.64
23,437.43
23,207.50
22,975.85
22,742.46
22,507.33
22,270.42
22,031.75
21,791.28
21,549.00
21,304.92
21,059.00
20,811.23
20,561.61
20,310.11
20,056.73
19,801.45
19,544.26
19,285.13
19,024.06
18,761.04
18,496.04
18,229.05
17,960.06
17,689.06
17,416.02
17,140.93
16,863.78
16,584.56
16,303.23
16,019.80
15,734.24
15,446.54

184.21
182.55
180.88
179.19
177.49
175.78
174.06
172.32
170.57
168.80
167.03
165.24
163.43
161.62
159.79
157.94
156.08
154.21
152.33
150.43
148.51
146.58
144.64
142.68
140.71
138.72
136.72
134.70
132.67
130.62
128.56
126.48
124.38
122.27
120.15
118.01

221.49
223.16
224.83
226.52
228.21
229.93
231.65
233.39
235.14
236.90
238.68
240.47
242.27
244.09
245.92
247.76
249.62
251.49
253.38
255.28
257.20
259.12
261.07
263.03
265.00
266.99
268.99
271.01
273.04
275.09
277.15
279.23
281.32
283.43
285.56
287.70

405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71

136
137
138
139
140
141
142
143
144
145
146
147
148
149
150
151
152
153
154
155
156
157
158
159
160
161
162
163
164
165
166
167
168
169
170
171

15,156.68
14,864.65
14,570.43
14,274.00
13,975.35
13,674.46
13,371.31
13,065.89
12,758.18
12,448.16
12,135.81
11,821.12
11,504.08
11,184.65
10,862.83
10,538.59
10,211.93
9,882.81
9,551.22
9,217.15
8,880.57
8,541.47
8,199.82
7,855.62
7,508.83
7,159.44
6,807.43
6,452.77
6,095.46
5,735.47
5,372.78
5,007.37
4,639.22
4,268.31
3,894.61
3,518.12

115.85
113.68
111.48
109.28
107.06
104.82
102.56
100.28
97.99
95.69
93.36
91.02
88.66
86.28
83.88
81.47
79.04
76.59
74.12
71.63
69.13
66.60
64.06
61.50
58.92
56.32
53.70
51.06
48.40
45.72
43.02
40.30
37.56
34.79
32.01
29.21

289.86
292.03
294.22
296.43
298.65
300.89
303.15
305.42
307.71
310.02
312.35
314.69
317.05
319.43
321.82
324.24
326.67
329.12
331.59
334.07
336.58
339.10
341.65
344.21
346.79
349.39
352.01
354.65
357.31
359.99
362.69
365.41
368.15
370.91
373.69
376.50

405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71

172
173
174
175
176
177
178
179
180

3,138.80
2,756.63
2,371.60
1,983.68
1,592.85
1,199.09
802.38
402.69
0.00
Total

Elaborado p/ Prof. Breno de Campos

26.39
23.54
20.67
17.79
14.88
11.95
8.99
6.02
3.02

379.32
382.17
385.03
387.92
390.83
393.76
396.71
399.69
402.69

405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71
405.71

33,027.19

40,000.00

73,027.19

Breno de Campos

Indexador TR
Variao
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%

Moeda Corrente

ndice

Saldo Devedor

Prestao

1.00000

40,000.00
39,914.24
39,827.59
39,740.05
39,651.60
39,562.24
39,471.96
39,380.75
39,288.61
39,195.53
39,101.51
39,006.52
38,910.57
38,813.65
38,715.75
38,616.86
38,516.98
38,416.09
38,314.19
38,211.27
38,107.32
38,002.33
37,896.30
37,789.21
37,681.06
37,571.85
37,461.55
37,350.16

405.91
406.11
406.32
406.52
406.72
406.93
407.13
407.33
407.54
407.74
407.94
408.15
408.35
408.56
408.76
408.96
409.17
409.37
409.58
409.78
409.99
410.19
410.40
410.60
410.81
411.01
411.22

1.00050
1.00100
1.00150
1.00200
1.00250
1.00300
1.00351
1.00401
1.00451
1.00501
1.00551
1.00602
1.00652
1.00702
1.00753
1.00803
1.00853
1.00904
1.00954
1.01005
1.01055
1.01106
1.01156
1.01207
1.01258
1.01308
1.01359

0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%

1.01409
1.01460
1.01511
1.01562
1.01612
1.01663
1.01714
1.01765
1.01816
1.01867
1.01918
1.01969
1.02020
1.02071
1.02122
1.02173
1.02224
1.02275
1.02326
1.02377
1.02428
1.02480
1.02531
1.02582
1.02633
1.02685
1.02736
1.02787
1.02839
1.02890
1.02942
1.02993
1.03045
1.03096
1.03148
1.03199

37,237.68
37,124.09
37,009.38
36,893.55
36,776.59
36,658.49
36,539.23
36,418.82
36,297.23
36,174.46
36,050.51
35,925.35
35,798.99
35,671.41
35,542.60
35,412.55
35,281.26
35,148.70
35,014.88
34,879.78
34,743.39
34,605.70
34,466.70
34,326.38
34,184.73
34,041.74
33,897.39
33,751.68
33,604.60
33,456.13
33,306.26
33,154.99
33,002.29
32,848.17
32,692.60
32,535.58

411.43
411.63
411.84
412.04
412.25
412.45
412.66
412.87
413.07
413.28
413.49
413.69
413.90
414.11
414.31
414.52
414.73
414.94
415.14
415.35
415.56
415.77
415.97
416.18
416.39
416.60
416.81
417.02
417.22
417.43
417.64
417.85
418.06
418.27
418.48
418.69

0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%

1.03251
1.03303
1.03354
1.03406
1.03458
1.03509
1.03561
1.03613
1.03665
1.03716
1.03768
1.03820
1.03872
1.03924
1.03976
1.04028
1.04080
1.04132
1.04184
1.04236
1.04288
1.04340
1.04393
1.04445
1.04497
1.04549
1.04602
1.04654
1.04706
1.04759
1.04811
1.04863
1.04916
1.04968
1.05021
1.05073

32,377.09
32,217.12
32,055.66
31,892.70
31,728.23
31,562.23
31,394.69
31,225.60
31,054.95
30,882.72
30,708.91
30,533.49
30,356.45
30,177.79
29,997.49
29,815.53
29,631.91
29,446.60
29,259.61
29,070.90
28,880.47
28,688.31
28,494.39
28,298.71
28,101.26
27,902.01
27,700.96
27,498.08
27,293.37
27,086.80
26,878.37
26,668.07
26,455.86
26,241.74
26,025.70
25,807.71

418.90
419.11
419.31
419.52
419.73
419.94
420.15
420.36
420.57
420.78
421.00
421.21
421.42
421.63
421.84
422.05
422.26
422.47
422.68
422.89
423.10
423.32
423.53
423.74
423.95
424.16
424.38
424.59
424.80
425.01
425.23
425.44
425.65
425.86
426.08
426.29

0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%

1.05126
1.05178
1.05231
1.05284
1.05336
1.05389
1.05442
1.05494
1.05547
1.05600
1.05653
1.05705
1.05758
1.05811
1.05864
1.05917
1.05970
1.06023
1.06076
1.06129
1.06182
1.06235
1.06288
1.06341
1.06395
1.06448
1.06501
1.06554
1.06608
1.06661
1.06714
1.06768
1.06821
1.06874
1.06928
1.06981

25,587.77
25,365.85
25,141.94
24,916.03
24,688.10
24,458.12
24,226.10
23,992.00
23,755.81
23,517.53
23,277.11
23,034.56
22,789.86
22,542.98
22,293.91
22,042.63
21,789.13
21,533.38
21,275.37
21,015.08
20,752.50
20,487.59
20,220.35
19,950.75
19,678.78
19,404.42
19,127.65
18,848.44
18,566.79
18,282.66
17,996.05
17,706.92
17,415.26
17,121.05
16,824.27
16,524.90

426.50
426.72
426.93
427.14
427.36
427.57
427.78
428.00
428.21
428.43
428.64
428.85
429.07
429.28
429.50
429.71
429.93
430.14
430.36
430.57
430.79
431.00
431.22
431.43
431.65
431.87
432.08
432.30
432.51
432.73
432.95
433.16
433.38
433.60
433.81
434.03

0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%

1.07035
1.07088
1.07142
1.07195
1.07249
1.07303
1.07356
1.07410
1.07464
1.07517
1.07571
1.07625
1.07679
1.07733
1.07786
1.07840
1.07894
1.07948
1.08002
1.08056
1.08110
1.08164
1.08218
1.08272
1.08327
1.08381
1.08435
1.08489
1.08543
1.08598
1.08652
1.08706
1.08761
1.08815
1.08869
1.08924

16,222.91
15,918.29
15,611.02
15,301.07
14,988.42
14,673.05
14,354.93
14,034.06
13,710.40
13,383.93
13,054.63
12,722.47
12,387.44
12,049.51
11,708.65
11,364.85
11,018.08
10,668.31
10,315.52
9,959.70
9,600.80
9,238.81
8,873.71
8,505.46
8,134.05
7,759.45
7,381.62
7,000.56
6,616.22
6,228.59
5,837.63
5,443.33
5,045.64
4,644.56
4,240.04
3,832.07

434.25
434.46
434.68
434.90
435.12
435.33
435.55
435.77
435.99
436.20
436.42
436.64
436.86
437.08
437.30
437.52
437.73
437.95
438.17
438.39
438.61
438.83
439.05
439.27
439.49
439.71
439.93
440.15
440.37
440.59
440.81
441.03
441.25
441.47
441.69
441.91

0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%

1.08978
1.09033
1.09087
1.09142
1.09196
1.09251
1.09306
1.09360
1.09415

3,420.61
3,005.63
2,587.11
2,165.02
1,739.33
1,310.02
877.04
440.38
0.00

442.13
442.35
442.57
442.80
443.02
443.24
443.46
443.68
443.90
76,432.49

FINANCIAMENTO HABITACIONAL - SAC


Taxa de juros

9.0% aa
0.75% am

Prestaes
Meses
0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27

180 meses
Saldo Dev.
40,000.00
39,777.78
39,555.56
39,333.33
39,111.11
38,888.89
38,666.67
38,444.44
38,222.22
38,000.00
37,777.78
37,555.56
37,333.33
37,111.11
36,888.89
36,666.67
36,444.44
36,222.22
36,000.00
35,777.78
35,555.56
35,333.33
35,111.11
34,888.89
34,666.67
34,444.44
34,222.22
34,000.00

Juro Amortiz.
300.00
298.33
296.67
295.00
293.33
291.67
290.00
288.33
286.67
285.00
283.33
281.67
280.00
278.33
276.67
275.00
273.33
271.67
270.00
268.33
266.67
265.00
263.33
261.67
260.00
258.33
256.67

222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22

Prestao
522.22
520.56
518.89
517.22
515.56
513.89
512.22
510.56
508.89
507.22
505.56
503.89
502.22
500.56
498.89
497.22
495.56
493.89
492.22
490.56
488.89
487.22
485.56
483.89
482.22
480.56
478.89

28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63

33,777.78
33,555.56
33,333.33
33,111.11
32,888.89
32,666.67
32,444.44
32,222.22
32,000.00
31,777.78
31,555.56
31,333.33
31,111.11
30,888.89
30,666.67
30,444.44
30,222.22
30,000.00
29,777.78
29,555.56
29,333.33
29,111.11
28,888.89
28,666.67
28,444.44
28,222.22
28,000.00
27,777.78
27,555.56
27,333.33
27,111.11
26,888.89
26,666.67
26,444.44
26,222.22
26,000.00

255.00
253.33
251.67
250.00
248.33
246.67
245.00
243.33
241.67
240.00
238.33
236.67
235.00
233.33
231.67
230.00
228.33
226.67
225.00
223.33
221.67
220.00
218.33
216.67
215.00
213.33
211.67
210.00
208.33
206.67
205.00
203.33
201.67
200.00
198.33
196.67

222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22

477.22
475.56
473.89
472.22
470.56
468.89
467.22
465.56
463.89
462.22
460.56
458.89
457.22
455.56
453.89
452.22
450.56
448.89
447.22
445.56
443.89
442.22
440.56
438.89
437.22
435.56
433.89
432.22
430.56
428.89
427.22
425.56
423.89
422.22
420.56
418.89

64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99

25,777.78
25,555.56
25,333.33
25,111.11
24,888.89
24,666.67
24,444.44
24,222.22
24,000.00
23,777.78
23,555.56
23,333.33
23,111.11
22,888.89
22,666.67
22,444.44
22,222.22
22,000.00
21,777.78
21,555.56
21,333.33
21,111.11
20,888.89
20,666.67
20,444.44
20,222.22
20,000.00
19,777.78
19,555.56
19,333.33
19,111.11
18,888.89
18,666.67
18,444.44
18,222.22
18,000.00

195.00
193.33
191.67
190.00
188.33
186.67
185.00
183.33
181.67
180.00
178.33
176.67
175.00
173.33
171.67
170.00
168.33
166.67
165.00
163.33
161.67
160.00
158.33
156.67
155.00
153.33
151.67
150.00
148.33
146.67
145.00
143.33
141.67
140.00
138.33
136.67

222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22

417.22
415.56
413.89
412.22
410.56
408.89
407.22
405.56
403.89
402.22
400.56
398.89
397.22
395.56
393.89
392.22
390.56
388.89
387.22
385.56
383.89
382.22
380.56
378.89
377.22
375.56
373.89
372.22
370.56
368.89
367.22
365.56
363.89
362.22
360.56
358.89

100
101
102
103
104
105
106
107
108
109
110
111
112
113
114
115
116
117
118
119
120
121
122
123
124
125
126
127
128
129
130
131
132
133
134
135

17,777.78
17,555.56
17,333.33
17,111.11
16,888.89
16,666.67
16,444.44
16,222.22
16,000.00
15,777.78
15,555.56
15,333.33
15,111.11
14,888.89
14,666.67
14,444.44
14,222.22
14,000.00
13,777.78
13,555.56
13,333.33
13,111.11
12,888.89
12,666.67
12,444.44
12,222.22
12,000.00
11,777.78
11,555.56
11,333.33
11,111.11
10,888.89
10,666.67
10,444.44
10,222.22
10,000.00

135.00
133.33
131.67
130.00
128.33
126.67
125.00
123.33
121.67
120.00
118.33
116.67
115.00
113.33
111.67
110.00
108.33
106.67
105.00
103.33
101.67
100.00
98.33
96.67
95.00
93.33
91.67
90.00
88.33
86.67
85.00
83.33
81.67
80.00
78.33
76.67

222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22

357.22
355.56
353.89
352.22
350.56
348.89
347.22
345.56
343.89
342.22
340.56
338.89
337.22
335.56
333.89
332.22
330.56
328.89
327.22
325.56
323.89
322.22
320.56
318.89
317.22
315.56
313.89
312.22
310.56
308.89
307.22
305.56
303.89
302.22
300.56
298.89

136
137
138
139
140
141
142
143
144
145
146
147
148
149
150
151
152
153
154
155
156
157
158
159
160
161
162
163
164
165
166
167
168
169
170
171

9,777.78
9,555.56
9,333.33
9,111.11
8,888.89
8,666.67
8,444.44
8,222.22
8,000.00
7,777.78
7,555.56
7,333.33
7,111.11
6,888.89
6,666.67
6,444.44
6,222.22
6,000.00
5,777.78
5,555.56
5,333.33
5,111.11
4,888.89
4,666.67
4,444.44
4,222.22
4,000.00
3,777.78
3,555.56
3,333.33
3,111.11
2,888.89
2,666.67
2,444.44
2,222.22
2,000.00

75.00
73.33
71.67
70.00
68.33
66.67
65.00
63.33
61.67
60.00
58.33
56.67
55.00
53.33
51.67
50.00
48.33
46.67
45.00
43.33
41.67
40.00
38.33
36.67
35.00
33.33
31.67
30.00
28.33
26.67
25.00
23.33
21.67
20.00
18.33
16.67

222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22

297.22
295.56
293.89
292.22
290.56
288.89
287.22
285.56
283.89
282.22
280.56
278.89
277.22
275.56
273.89
272.22
270.56
268.89
267.22
265.56
263.89
262.22
260.56
258.89
257.22
255.56
253.89
252.22
250.56
248.89
247.22
245.56
243.89
242.22
240.56
238.89

172
173
174
175
176
177
178
179
180

1,777.78
1,555.56
1,333.33
1,111.11
888.89
666.67
444.44
222.22
0.00
Total

Elaborado p/ Prof. Breno de Campos

15.00
13.33
11.67
10.00
8.33
6.67
5.00
3.33
1.67

222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22
222.22

237.22
235.56
233.89
232.22
230.56
228.89
227.22
225.56
223.89

27,150.00

40,000.00

67,150.00

Breno de Campos

Indexador TR
Variao
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%

Moeda Corrente

ndice

Saldo Devedor

Prestao

1.00000

40,000.00
39,797.67
39,595.12
39,392.36
39,189.39
38,986.21
38,782.81
38,579.20
38,375.38
38,171.34
37,967.09
37,762.63
37,557.95
37,353.06
37,147.95
36,942.63
36,737.10
36,531.35
36,325.38
36,119.20
35,912.81
35,706.19
35,499.37
35,292.33
35,085.07
34,877.59
34,669.90
34,462.00

522.48
521.08
519.67
518.26
516.85
515.43
514.02
512.60
511.18
509.76
508.34
506.92
505.50
504.07
502.64
501.21
499.78
498.35
496.92
495.48
494.05
492.61
491.17
489.73
488.29
486.84
485.40

1.00050
1.00100
1.00150
1.00200
1.00250
1.00300
1.00351
1.00401
1.00451
1.00501
1.00551
1.00602
1.00652
1.00702
1.00753
1.00803
1.00853
1.00904
1.00954
1.01005
1.01055
1.01106
1.01156
1.01207
1.01258
1.01308
1.01359

0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%

1.01409
1.01460
1.01511
1.01562
1.01612
1.01663
1.01714
1.01765
1.01816
1.01867
1.01918
1.01969
1.02020
1.02071
1.02122
1.02173
1.02224
1.02275
1.02326
1.02377
1.02428
1.02480
1.02531
1.02582
1.02633
1.02685
1.02736
1.02787
1.02839
1.02890
1.02942
1.02993
1.03045
1.03096
1.03148
1.03199

34,253.87
34,045.53
33,836.98
33,628.20
33,419.21
33,210.00
33,000.57
32,790.93
32,581.07
32,370.99
32,160.69
31,950.17
31,739.44
31,528.48
31,317.31
31,105.92
30,894.31
30,682.48
30,470.43
30,258.16
30,045.67
29,832.96
29,620.03
29,406.88
29,193.51
28,979.92
28,766.10
28,552.07
28,337.82
28,123.34
27,908.64
27,693.72
27,478.58
27,263.22
27,047.63
26,831.82

483.95
482.50
481.05
479.60
478.14
476.69
475.23
473.77
472.31
470.85
469.39
467.92
466.46
464.99
463.52
462.05
460.58
459.10
457.62
456.15
454.67
453.19
451.71
450.22
448.74
447.25
445.76
444.27
442.78
441.28
439.79
438.29
436.79
435.30
433.79
432.29

0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%

1.03251
1.03303
1.03354
1.03406
1.03458
1.03509
1.03561
1.03613
1.03665
1.03716
1.03768
1.03820
1.03872
1.03924
1.03976
1.04028
1.04080
1.04132
1.04184
1.04236
1.04288
1.04340
1.04393
1.04445
1.04497
1.04549
1.04602
1.04654
1.04706
1.04759
1.04811
1.04863
1.04916
1.04968
1.05021
1.05073

26,615.79
26,399.54
26,183.06
25,966.37
25,749.44
25,532.30
25,314.93
25,097.33
24,879.52
24,661.48
24,443.21
24,224.72
24,006.00
23,787.07
23,567.90
23,348.51
23,128.90
22,909.06
22,688.99
22,468.70
22,248.18
22,027.44
21,806.47
21,585.27
21,363.85
21,142.20
20,920.32
20,698.22
20,475.89
20,253.33
20,030.54
19,807.53
19,584.28
19,360.81
19,137.11
18,913.19

430.79
429.28
427.77
426.26
424.75
423.24
421.72
420.21
418.69
417.17
415.65
414.13
412.60
411.08
409.55
408.02
406.49
404.96
403.42
401.89
400.35
398.81
397.27
395.73
394.19
392.64
391.09
389.55
387.99
386.44
384.89
383.33
381.78
380.22
378.66
377.10

0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%

1.05126
1.05178
1.05231
1.05284
1.05336
1.05389
1.05442
1.05494
1.05547
1.05600
1.05653
1.05705
1.05758
1.05811
1.05864
1.05917
1.05970
1.06023
1.06076
1.06129
1.06182
1.06235
1.06288
1.06341
1.06395
1.06448
1.06501
1.06554
1.06608
1.06661
1.06714
1.06768
1.06821
1.06874
1.06928
1.06981

18,689.03
18,464.65
18,240.03
18,015.19
17,790.11
17,564.81
17,339.28
17,113.52
16,887.53
16,661.30
16,434.85
16,208.17
15,981.25
15,754.11
15,526.73
15,299.12
15,071.28
14,843.21
14,614.91
14,386.38
14,157.61
13,928.61
13,699.38
13,469.91
13,240.22
13,010.28
12,780.12
12,549.72
12,319.09
12,088.23
11,857.13
11,625.80
11,394.23
11,162.43
10,930.39
10,698.12

375.53
373.97
372.40
370.83
369.26
367.69
366.12
364.54
362.96
361.39
359.81
358.22
356.64
355.06
353.47
351.88
350.29
348.70
347.10
345.51
343.91
342.31
340.71
339.11
337.51
335.90
334.29
332.69
331.08
329.46
327.85
326.23
324.62
323.00
321.38
319.75

0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%

1.07035
1.07088
1.07142
1.07195
1.07249
1.07303
1.07356
1.07410
1.07464
1.07517
1.07571
1.07625
1.07679
1.07733
1.07786
1.07840
1.07894
1.07948
1.08002
1.08056
1.08110
1.08164
1.08218
1.08272
1.08327
1.08381
1.08435
1.08489
1.08543
1.08598
1.08652
1.08706
1.08761
1.08815
1.08869
1.08924

10,465.62
10,232.88
9,999.90
9,766.69
9,533.24
9,299.56
9,065.64
8,831.48
8,597.09
8,362.46
8,127.59
7,892.49
7,657.15
7,421.57
7,185.76
6,949.71
6,713.42
6,476.89
6,240.12
6,003.12
5,765.88
5,528.39
5,290.67
5,052.71
4,814.51
4,576.07
4,337.40
4,098.48
3,859.32
3,619.92
3,380.28
3,140.40
2,900.28
2,659.92
2,419.32
2,178.48

318.13
316.51
314.88
313.25
311.62
309.99
308.35
306.71
305.08
303.44
301.80
300.15
298.51
296.86
295.21
293.57
291.91
290.26
288.61
286.95
285.29
283.63
281.97
280.31
278.64
276.97
275.30
273.63
271.96
270.29
268.61
266.93
265.26
263.57
261.89
260.21

0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%

1.08978
1.09033
1.09087
1.09142
1.09196
1.09251
1.09306
1.09360
1.09415

1,937.39
1,696.07
1,454.50
1,212.69
970.63
728.34
485.80
243.02
0.00

258.52
256.83
255.14
253.45
251.76
250.06
248.37
246.67
244.97
69,857.53

FINANCIAMENTO HABITACIONAL - SAM


Taxa de juros

9.0% aa
0.75% am

Prestaes
Meses
0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27

180 meses
Saldo Dev.

Juro

40,000.00
39,836.04
39,671.67
39,506.91
39,341.75
39,176.18
39,010.21
38,843.82
38,677.02
38,509.80
38,342.16
38,174.09
38,005.60
37,836.68
37,667.32
37,497.53
37,327.29
37,156.62
36,985.50
36,813.92
36,641.90
36,469.41
36,296.47
36,123.06
35,949.19
35,774.84
35,600.02
35,424.72

300.00
298.77
297.54
296.30
295.06
293.82
292.58
291.33
290.08
288.82
287.57
286.31
285.04
283.78
282.50
281.23
279.95
278.67
277.39
276.10
274.81
273.52
272.22
270.92
269.62
268.31
267.00

Amortiz. Prestao
163.96
164.36
164.76
165.16
165.57
165.98
166.39
166.80
167.22
167.64
168.06
168.49
168.92
169.36
169.79
170.23
170.68
171.12
171.57
172.03
172.48
172.94
173.41
173.87
174.35
174.82
175.30

463.96
463.13
462.30
461.46
460.63
459.80
458.96
458.13
457.30
456.46
455.63
454.80
453.96
453.13
452.30
451.46
450.63
449.80
448.96
448.13
447.30
446.46
445.63
444.80
443.96
443.13
442.30

28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63

35,248.94
35,072.68
34,895.93
34,718.68
34,540.94
34,362.70
34,183.96
34,004.70
33,824.94
33,644.67
33,463.87
33,282.55
33,100.70
32,918.33
32,735.42
32,551.97
32,367.98
32,183.44
31,998.35
31,812.71
31,626.51
31,439.74
31,252.41
31,064.50
30,876.02
30,686.96
30,497.32
30,307.08
30,116.25
29,924.83
29,732.80
29,540.16
29,346.92
29,153.05
28,958.57
28,763.46

265.69
264.37
263.05
261.72
260.39
259.06
257.72
256.38
255.04
253.69
252.33
250.98
249.62
248.26
246.89
245.52
244.14
242.76
241.38
239.99
238.60
237.20
235.80
234.39
232.98
231.57
230.15
228.73
227.30
225.87
224.44
223.00
221.55
220.10
218.65
217.19

175.78
176.26
176.75
177.24
177.74
178.24
178.74
179.25
179.76
180.28
180.80
181.32
181.85
182.38
182.91
183.45
183.99
184.54
185.09
185.64
186.20
186.77
187.33
187.90
188.48
189.06
189.65
190.23
190.83
191.43
192.03
192.64
193.25
193.86
194.48
195.11

441.46
440.63
439.80
438.96
438.13
437.30
436.46
435.63
434.80
433.96
433.13
432.30
431.46
430.63
429.80
428.96
428.13
427.30
426.46
425.63
424.80
423.96
423.13
422.30
421.46
420.63
419.80
418.96
418.13
417.30
416.46
415.63
414.80
413.96
413.13
412.30

64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99

28,567.72
28,371.35
28,174.34
27,976.68
27,778.38
27,579.42
27,379.80
27,179.51
26,978.56
26,776.94
26,574.63
26,371.65
26,167.97
25,963.60
25,758.53
25,552.75
25,346.27
25,139.07
24,931.14
24,722.50
24,513.12
24,303.00
24,092.14
23,880.54
23,668.18
23,455.06
23,241.17
23,026.52
22,811.08
22,594.87
22,377.87
22,160.07
21,941.47
21,722.07
21,501.85
21,280.82

215.73
214.26
212.79
211.31
209.83
208.34
206.85
205.35
203.85
202.34
200.83
199.31
197.79
196.26
194.73
193.19
191.65
190.10
188.54
186.98
185.42
183.85
182.27
180.69
179.10
177.51
175.91
174.31
172.70
171.08
169.46
167.83
166.20
164.56
162.92
161.26

195.74
196.37
197.01
197.66
198.31
198.96
199.62
200.28
200.95
201.63
202.30
202.99
203.68
204.37
205.07
205.78
206.49
207.20
207.92
208.65
209.38
210.12
210.86
211.61
212.36
213.12
213.88
214.66
215.43
216.21
217.00
217.80
218.60
219.40
220.22
221.03

411.46
410.63
409.80
408.96
408.13
407.30
406.46
405.63
404.80
403.96
403.13
402.30
401.46
400.63
399.80
398.96
398.13
397.30
396.46
395.63
394.80
393.96
393.13
392.30
391.46
390.63
389.80
388.96
388.13
387.30
386.46
385.63
384.80
383.96
383.13
382.30

100
101
102
103
104
105
106
107
108
109
110
111
112
113
114
115
116
117
118
119
120
121
122
123
124
125
126
127
128
129
130
131
132
133
134
135

21,058.96
20,836.27
20,612.75
20,388.38
20,163.16
19,937.08
19,710.15
19,482.34
19,253.66
19,024.10
18,793.65
18,562.31
18,330.06
18,096.90
17,862.83
17,627.84
17,391.92
17,155.06
16,917.26
16,678.50
16,438.80
16,198.12
15,956.48
15,713.85
15,470.24
15,225.64
14,980.03
14,733.42
14,485.79
14,237.13
13,987.45
13,736.72
13,484.95
13,232.12
12,978.23
12,723.27

159.61
157.94
156.27
154.60
152.91
151.22
149.53
147.83
146.12
144.40
142.68
140.95
139.22
137.48
135.73
133.97
132.21
130.44
128.66
126.88
125.09
123.29
121.49
119.67
117.85
116.03
114.19
112.35
110.50
108.64
106.78
104.91
103.03
101.14
99.24
97.34

221.86
222.69
223.53
224.37
225.22
226.07
226.94
227.80
228.68
229.56
230.45
231.35
232.25
233.16
234.07
234.99
235.92
236.86
237.80
238.75
239.71
240.67
241.65
242.62
243.61
244.60
245.61
246.61
247.63
248.65
249.69
250.73
251.77
252.83
253.89
254.96

381.46
380.63
379.80
378.96
378.13
377.30
376.46
375.63
374.80
373.96
373.13
372.30
371.46
370.63
369.80
368.96
368.13
367.30
366.46
365.63
364.80
363.96
363.13
362.30
361.46
360.63
359.80
358.96
358.13
357.30
356.46
355.63
354.80
353.96
353.13
352.30

136
137
138
139
140
141
142
143
144
145
146
147
148
149
150
151
152
153
154
155
156
157
158
159
160
161
162
163
164
165
166
167
168
169
170
171

12,467.23
12,210.10
11,951.88
11,692.56
11,432.12
11,170.56
10,907.88
10,644.06
10,379.09
10,112.97
9,845.68
9,577.23
9,307.59
9,036.77
8,764.75
8,491.52
8,217.07
7,941.40
7,664.50
7,386.35
7,106.95
6,826.29
6,544.36
6,261.14
5,976.64
5,690.83
5,403.71
5,115.28
4,825.51
4,534.40
4,241.95
3,948.13
3,652.94
3,356.38
3,058.42
2,759.06

95.42
93.50
91.58
89.64
87.69
85.74
83.78
81.81
79.83
77.84
75.85
73.84
71.83
69.81
67.78
65.74
63.69
61.63
59.56
57.48
55.40
53.30
51.20
49.08
46.96
44.82
42.68
40.53
38.36
36.19
34.01
31.81
29.61
27.40
25.17
22.94

256.04
257.13
258.22
259.33
260.44
261.56
262.69
263.82
264.97
266.12
267.28
268.46
269.64
270.82
272.02
273.23
274.44
275.67
276.90
278.15
279.40
280.66
281.93
283.22
284.51
285.81
287.12
288.44
289.77
291.11
292.46
293.82
295.19
296.57
297.96
299.36

351.46
350.63
349.80
348.96
348.13
347.30
346.46
345.63
344.80
343.96
343.13
342.30
341.46
340.63
339.80
338.96
338.13
337.30
336.46
335.63
334.80
333.96
333.13
332.30
331.46
330.63
329.80
328.96
328.13
327.30
326.46
325.63
324.80
323.96
323.13
322.30

172
173
174
175
176
177
178
179
180

2,458.29
2,156.09
1,852.47
1,547.39
1,240.87
932.88
623.41
312.45
0.00
Total

Elaborado p/ Prof. Breno de Campos

20.69
18.44
16.17
13.89
11.61
9.31
7.00
4.68
2.34

300.77
302.19
303.63
305.07
306.53
307.99
309.47
310.96
312.45

321.46
320.63
319.80
318.96
318.13
317.30
316.46
315.63
314.80

30,088.60

40,000.00

70,088.60

Breno de Campos

Indexador TR
Variao
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%

Moeda Corrente

ndice

Saldo Devedor

Prestao

1.00000

40,000.00
39,855.95
39,711.36
39,566.20
39,420.49
39,274.22
39,127.38
38,979.98
38,832.00
38,683.44
38,534.30
38,384.57
38,234.26
38,083.35
37,931.85
37,779.75
37,627.04
37,473.72
37,319.78
37,165.23
37,010.06
36,854.26
36,697.83
36,540.77
36,383.07
36,224.72
36,065.72
35,906.08

464.20
463.59
462.99
462.39
461.78
461.18
460.57
459.97
459.36
458.75
458.14
457.53
456.92
456.31
455.70
455.09
454.48
453.86
453.25
452.63
452.02
451.40
450.78
450.17
449.55
448.93
448.31

1.00050
1.00100
1.00150
1.00200
1.00250
1.00300
1.00351
1.00401
1.00451
1.00501
1.00551
1.00602
1.00652
1.00702
1.00753
1.00803
1.00853
1.00904
1.00954
1.01005
1.01055
1.01106
1.01156
1.01207
1.01258
1.01308
1.01359

0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%

1.01409
1.01460
1.01511
1.01562
1.01612
1.01663
1.01714
1.01765
1.01816
1.01867
1.01918
1.01969
1.02020
1.02071
1.02122
1.02173
1.02224
1.02275
1.02326
1.02377
1.02428
1.02480
1.02531
1.02582
1.02633
1.02685
1.02736
1.02787
1.02839
1.02890
1.02942
1.02993
1.03045
1.03096
1.03148
1.03199

35,745.77
35,584.81
35,423.18
35,260.88
35,097.90
34,934.24
34,769.90
34,604.87
34,439.15
34,272.73
34,105.60
33,937.76
33,769.21
33,599.95
33,429.96
33,259.24
33,087.78
32,915.59
32,742.65
32,568.97
32,394.53
32,219.33
32,043.37
31,866.63
31,689.12
31,510.83
31,331.75
31,151.88
30,971.21
30,789.74
30,607.45
30,424.36
30,240.44
30,055.69
29,870.12
29,683.70

447.69
447.07
446.44
445.82
445.20
444.57
443.95
443.32
442.69
442.07
441.44
440.81
440.18
439.55
438.92
438.28
437.65
437.02
436.38
435.75
435.11
434.48
433.84
433.20
432.56
431.92
431.28
430.64
430.00
429.36
428.72
428.07
427.43
426.78
426.14
425.49

0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%

1.03251
1.03303
1.03354
1.03406
1.03458
1.03509
1.03561
1.03613
1.03665
1.03716
1.03768
1.03820
1.03872
1.03924
1.03976
1.04028
1.04080
1.04132
1.04184
1.04236
1.04288
1.04340
1.04393
1.04445
1.04497
1.04549
1.04602
1.04654
1.04706
1.04759
1.04811
1.04863
1.04916
1.04968
1.05021
1.05073

29,496.44
29,308.33
29,119.36
28,929.53
28,738.84
28,547.26
28,354.81
28,161.47
27,967.23
27,772.10
27,576.06
27,379.10
27,181.23
26,982.43
26,782.70
26,582.02
26,380.40
26,177.83
25,974.30
25,769.80
25,564.33
25,357.87
25,150.43
24,941.99
24,732.55
24,522.10
24,310.64
24,098.15
23,884.63
23,670.07
23,454.46
23,237.80
23,020.07
22,801.28
22,581.41
22,360.45

424.84
424.19
423.54
422.89
422.24
421.59
420.94
420.29
419.63
418.98
418.32
417.67
417.01
416.35
415.69
415.03
414.37
413.71
413.05
412.39
411.73
411.06
410.40
409.73
409.07
408.40
407.73
407.07
406.40
405.73
405.06
404.39
403.71
403.04
402.37
401.69

0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%

1.05126
1.05178
1.05231
1.05284
1.05336
1.05389
1.05442
1.05494
1.05547
1.05600
1.05653
1.05705
1.05758
1.05811
1.05864
1.05917
1.05970
1.06023
1.06076
1.06129
1.06182
1.06235
1.06288
1.06341
1.06395
1.06448
1.06501
1.06554
1.06608
1.06661
1.06714
1.06768
1.06821
1.06874
1.06928
1.06981

22,138.40
21,915.25
21,690.99
21,465.61
21,239.11
21,011.47
20,782.69
20,552.76
20,321.67
20,089.41
19,855.98
19,621.37
19,385.56
19,148.54
18,910.32
18,670.88
18,430.21
18,188.30
17,945.14
17,700.73
17,455.05
17,208.10
16,959.86
16,710.33
16,459.50
16,207.35
15,953.89
15,699.08
15,442.94
15,185.45
14,926.59
14,666.36
14,404.75
14,141.74
13,877.33
13,611.51

401.02
400.34
399.66
398.99
398.31
397.63
396.95
396.27
395.59
394.91
394.22
393.54
392.85
392.17
391.48
390.80
390.11
389.42
388.73
388.04
387.35
386.66
385.97
385.27
384.58
383.88
383.19
382.49
381.79
381.10
380.40
379.70
379.00
378.30
377.60
376.89

0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%

1.07035
1.07088
1.07142
1.07195
1.07249
1.07303
1.07356
1.07410
1.07464
1.07517
1.07571
1.07625
1.07679
1.07733
1.07786
1.07840
1.07894
1.07948
1.08002
1.08056
1.08110
1.08164
1.08218
1.08272
1.08327
1.08381
1.08435
1.08489
1.08543
1.08598
1.08652
1.08706
1.08761
1.08815
1.08869
1.08924

13,344.27
13,075.58
12,805.46
12,533.88
12,260.83
11,986.30
11,710.29
11,432.77
11,153.74
10,873.19
10,591.11
10,307.48
10,022.29
9,735.54
9,447.20
9,157.28
8,865.75
8,572.60
8,277.82
7,981.41
7,683.34
7,383.60
7,082.19
6,779.09
6,474.28
6,167.76
5,859.51
5,549.52
5,237.77
4,924.25
4,608.96
4,291.86
3,972.96
3,652.24
3,329.68
3,005.27

376.19
375.48
374.78
374.07
373.37
372.66
371.95
371.24
370.53
369.82
369.11
368.40
367.68
366.97
366.26
365.54
364.82
364.11
363.39
362.67
361.95
361.23
360.51
359.79
359.06
358.34
357.62
356.89
356.16
355.44
354.71
353.98
353.25
352.52
351.79
351.06

0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%

1.08978
1.09033
1.09087
1.09142
1.09196
1.09251
1.09306
1.09360
1.09415

2,679.00
2,350.85
2,020.80
1,688.85
1,354.98
1,019.18
681.42
341.70
0.00

350.33
349.59
348.86
348.12
347.39
346.65
345.91
345.18
344.44
73,145.01

FINANCIAMENTO HABITACIONAL - SACRE


Taxa de juros

9.0% aa
0.75% am

Prestaes
Meses
0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27

180 meses
Saldo Dev.
40,000.00
39,777.78
39,553.89
39,328.32
39,101.06
38,872.10
38,641.42
38,409.00
38,174.85
37,938.94
37,701.26
37,461.80
37,220.54
36,998.99
36,775.77
36,550.89
36,324.31
36,096.04
35,866.06
35,634.35
35,400.90
35,165.70
34,928.74
34,690.00
34,449.47
34,228.64
34,006.15
33,782.00

Juro Amortiz.
300.00
298.33
296.65
294.96
293.26
291.54
289.81
288.07
286.31
284.54
282.76
280.96
279.15
277.49
275.82
274.13
272.43
270.72
269.00
267.26
265.51
263.74
261.97
260.18
258.37
256.71
255.05

222.22
223.89
225.57
227.26
228.96
230.68
232.41
234.15
235.91
237.68
239.46
241.26
221.55
223.21
224.89
226.57
228.27
229.98
231.71
233.45
235.20
236.96
238.74
240.53
220.83
222.49
224.15

Prestao
522.22
522.22
522.22
522.22
522.22
522.22
522.22
522.22
522.22
522.22
522.22
522.22
500.70
500.70
500.70
500.70
500.70
500.70
500.70
500.70
500.70
500.70
500.70
500.70
479.20
479.20
479.20

28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63

33,556.16
33,328.63
33,099.40
32,868.44
32,635.75
32,401.32
32,165.13
31,927.17
31,687.42
31,467.37
31,245.67
31,022.30
30,797.26
30,570.54
30,342.11
30,111.97
29,880.10
29,646.49
29,411.13
29,174.01
28,935.11
28,715.90
28,495.05
28,272.55
28,048.37
27,822.52
27,594.97
27,365.71
27,134.73
26,902.03
26,667.57
26,431.36
26,193.38
25,975.10
25,755.18
25,533.62

253.36
251.67
249.96
248.25
246.51
244.77
243.01
241.24
239.45
237.66
236.01
234.34
232.67
230.98
229.28
227.57
225.84
224.10
222.35
220.58
218.81
217.01
215.37
213.71
212.04
210.36
208.67
206.96
205.24
203.51
201.77
200.01
198.24
196.45
194.81
193.16

225.84
227.53
229.24
230.96
232.69
234.43
236.19
237.96
239.75
220.05
221.70
223.36
225.04
226.73
228.43
230.14
231.87
233.61
235.36
237.12
238.90
219.21
220.85
222.51
224.17
225.86
227.55
229.26
230.98
232.71
234.45
236.21
237.98
218.28
219.92
221.56

479.20
479.20
479.20
479.20
479.20
479.20
479.20
479.20
479.20
457.71
457.71
457.71
457.71
457.71
457.71
457.71
457.71
457.71
457.71
457.71
457.71
436.22
436.22
436.22
436.22
436.22
436.22
436.22
436.22
436.22
436.22
436.22
436.22
414.73
414.73
414.73

64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99

25,310.39
25,085.49
24,858.91
24,630.62
24,400.62
24,168.90
23,935.43
23,700.22
23,463.24
23,245.99
23,027.11
22,806.59
22,584.41
22,360.57
22,135.04
21,907.83
21,678.91
21,448.28
21,215.91
20,981.81
20,745.94
20,529.84
20,312.12
20,092.76
19,871.76
19,649.10
19,424.77
19,198.75
18,971.05
18,741.63
18,510.49
18,277.63
18,043.01
17,828.21
17,611.80
17,393.77

191.50
189.83
188.14
186.44
184.73
183.00
181.27
179.52
177.75
175.97
174.34
172.70
171.05
169.38
167.70
166.01
164.31
162.59
160.86
159.12
157.36
155.59
153.97
152.34
150.70
149.04
147.37
145.69
143.99
142.28
140.56
138.83
137.08
135.32
133.71
132.09

223.23
224.90
226.59
228.29
230.00
231.72
233.46
235.21
236.98
217.25
218.88
220.52
222.18
223.84
225.52
227.21
228.92
230.63
232.36
234.11
235.86
216.10
217.72
219.36
221.00
222.66
224.33
226.01
227.71
229.42
231.14
232.87
234.62
214.80
216.41
218.03

414.73
414.73
414.73
414.73
414.73
414.73
414.73
414.73
414.73
393.23
393.23
393.23
393.23
393.23
393.23
393.23
393.23
393.23
393.23
393.23
393.23
371.70
371.70
371.70
371.70
371.70
371.70
371.70
371.70
371.70
371.70
371.70
371.70
350.12
350.12
350.12

100
101
102
103
104
105
106
107
108
109
110
111
112
113
114
115
116
117
118
119
120
121
122
123
124
125
126
127
128
129
130
131
132
133
134
135

17,174.10
16,952.79
16,729.81
16,505.17
16,278.84
16,050.81
15,821.07
15,589.61
15,356.41
15,143.12
14,928.24
14,711.75
14,493.63
14,273.87
14,052.47
13,829.41
13,604.67
13,378.25
13,150.13
12,920.30
12,688.75
12,477.27
12,264.20
12,049.54
11,833.27
11,615.37
11,395.84
11,174.67
10,951.83
10,727.32
10,501.14
10,273.25
10,043.65
9,834.41
9,623.60
9,411.21

130.45
128.81
127.15
125.47
123.79
122.09
120.38
118.66
116.92
115.17
113.57
111.96
110.34
108.70
107.05
105.39
103.72
102.04
100.34
98.63
96.90
95.17
93.58
91.98
90.37
88.75
87.12
85.47
83.81
82.14
80.45
78.76
77.05
75.33
73.76
72.18

219.67
221.31
222.97
224.65
226.33
228.03
229.74
231.46
233.20
213.28
214.88
216.49
218.12
219.75
221.40
223.06
224.74
226.42
228.12
229.83
231.55
211.48
213.07
214.66
216.27
217.90
219.53
221.18
222.83
224.51
226.19
227.89
229.60
209.24
210.81
212.39

350.12
350.12
350.12
350.12
350.12
350.12
350.12
350.12
350.12
328.46
328.46
328.46
328.46
328.46
328.46
328.46
328.46
328.46
328.46
328.46
328.46
306.64
306.64
306.64
306.64
306.64
306.64
306.64
306.64
306.64
306.64
306.64
306.64
284.57
284.57
284.57

136
137
138
139
140
141
142
143
144
145
146
147
148
149
150
151
152
153
154
155
156
157
158
159
160
161
162
163
164
165
166
167
168
169
170
171

9,197.22
8,981.63
8,764.42
8,545.58
8,325.10
8,102.97
7,879.18
7,653.70
7,426.53
7,220.24
7,012.40
6,803.00
6,592.03
6,379.48
6,165.33
5,949.58
5,732.21
5,513.21
5,292.57
5,070.27
4,846.31
4,644.38
4,440.94
4,235.97
4,029.46
3,821.40
3,611.79
3,400.60
3,187.83
2,973.46
2,757.48
2,539.89
2,320.66
2,127.27
1,932.43
1,736.13

70.58
68.98
67.36
65.73
64.09
62.44
60.77
59.09
57.40
55.70
54.15
52.59
51.02
49.44
47.85
46.24
44.62
42.99
41.35
39.69
38.03
36.35
34.83
33.31
31.77
30.22
28.66
27.09
25.50
23.91
22.30
20.68
19.05
17.40
15.95
14.49

213.99
215.59
217.21
218.84
220.48
222.13
223.80
225.48
227.17
206.29
207.84
209.40
210.97
212.55
214.15
215.75
217.37
219.00
220.64
222.30
223.96
201.93
203.44
204.97
206.51
208.06
209.62
211.19
212.77
214.37
215.98
217.60
219.23
193.39
194.84
196.30

284.57
284.57
284.57
284.57
284.57
284.57
284.57
284.57
284.57
261.99
261.99
261.99
261.99
261.99
261.99
261.99
261.99
261.99
261.99
261.99
261.99
238.28
238.28
238.28
238.28
238.28
238.28
238.28
238.28
238.28
238.28
238.28
238.28
210.79
210.79
210.79

172
173
174
175
176
177
178
179
180

1,538.36
1,339.10
1,138.35
936.10
732.33
527.03
320.19
111.79
Total

Elaborado p/ Prof. Breno de Campos

13.02
11.54
10.04
8.54
7.02
5.49
3.95
2.40
0.84

197.77
199.26
200.75
202.26
203.77
205.30
206.84
208.39
111.79

210.79
210.79
210.79
210.79
210.79
210.79
210.79
210.79
112.63

26,580.56

40,000.00

66,580.56

Breno de Campos

Indexador TR
Variao
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%

Moeda Corrente

ndice

Saldo Devedor

Prestao

1.00000

40,000.00
39,797.67
39,593.45
39,387.34
39,179.32
38,969.37
38,757.48
38,543.64
38,327.82
38,110.01
37,890.19
37,668.35
37,444.47
37,240.20
37,034.04
36,825.98
36,616.00
36,404.09
36,190.23
35,974.40
35,756.60
35,536.79
35,314.98
35,091.14
34,865.25
34,659.08
34,451.01
34,241.03

522.48
522.74
523.01
523.27
523.53
523.79
524.05
524.31
524.58
524.84
525.10
525.36
503.97
504.22
504.47
504.73
504.98
505.23
505.48
505.74
505.99
506.24
506.49
506.75
485.23
485.47
485.71

1.00050
1.00100
1.00150
1.00200
1.00250
1.00300
1.00351
1.00401
1.00451
1.00501
1.00551
1.00602
1.00652
1.00702
1.00753
1.00803
1.00853
1.00904
1.00954
1.01005
1.01055
1.01106
1.01156
1.01207
1.01258
1.01308
1.01359

0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%

1.01409
1.01460
1.01511
1.01562
1.01612
1.01663
1.01714
1.01765
1.01816
1.01867
1.01918
1.01969
1.02020
1.02071
1.02122
1.02173
1.02224
1.02275
1.02326
1.02377
1.02428
1.02480
1.02531
1.02582
1.02633
1.02685
1.02736
1.02787
1.02839
1.02890
1.02942
1.02993
1.03045
1.03096
1.03148
1.03199

34,029.13
33,815.30
33,599.50
33,381.74
33,161.99
32,940.24
32,716.47
32,490.67
32,262.81
32,054.79
31,844.86
31,633.02
31,419.25
31,203.54
30,985.87
30,766.22
30,544.58
30,320.93
30,095.26
29,867.54
29,637.77
29,427.95
29,216.23
29,002.58
28,787.01
28,569.48
28,349.99
28,128.52
27,905.05
27,679.57
27,452.06
27,222.50
26,990.88
26,779.34
26,565.89
26,350.52

485.96
486.20
486.44
486.68
486.93
487.17
487.41
487.66
487.90
466.25
466.48
466.72
466.95
467.18
467.42
467.65
467.89
468.12
468.35
468.59
468.82
447.04
447.26
447.48
447.71
447.93
448.15
448.38
448.60
448.83
449.05
449.28
449.50
427.57
427.78
428.00

0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%

1.03251
1.03303
1.03354
1.03406
1.03458
1.03509
1.03561
1.03613
1.03665
1.03716
1.03768
1.03820
1.03872
1.03924
1.03976
1.04028
1.04080
1.04132
1.04184
1.04236
1.04288
1.04340
1.04393
1.04445
1.04497
1.04549
1.04602
1.04654
1.04706
1.04759
1.04811
1.04863
1.04916
1.04968
1.05021
1.05073

26,133.21
25,913.95
25,692.72
25,469.51
25,244.29
25,017.06
24,787.79
24,556.47
24,323.09
24,109.93
23,894.85
23,677.85
23,458.91
23,238.01
23,015.14
22,790.28
22,563.42
22,334.54
22,103.62
21,870.64
21,635.60
21,420.94
21,204.36
20,985.85
20,765.41
20,543.00
20,318.62
20,092.25
19,863.87
19,633.47
19,401.03
19,166.53
18,929.97
18,713.96
18,496.05
18,276.20

428.21
428.43
428.64
428.85
429.07
429.28
429.50
429.71
429.93
407.84
408.04
408.25
408.45
408.66
408.86
409.07
409.27
409.48
409.68
409.88
410.09
387.83
388.03
388.22
388.41
388.61
388.80
389.00
389.19
389.39
389.58
389.78
389.97
367.52
367.70
367.88

0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%

1.05126
1.05178
1.05231
1.05284
1.05336
1.05389
1.05442
1.05494
1.05547
1.05600
1.05653
1.05705
1.05758
1.05811
1.05864
1.05917
1.05970
1.06023
1.06076
1.06129
1.06182
1.06235
1.06288
1.06341
1.06395
1.06448
1.06501
1.06554
1.06608
1.06661
1.06714
1.06768
1.06821
1.06874
1.06928
1.06981

18,054.41
17,830.67
17,604.94
17,377.23
17,147.51
16,915.77
16,681.98
16,446.14
16,208.23
15,991.11
15,772.08
15,551.12
15,328.21
15,103.35
14,876.52
14,647.70
14,416.87
14,184.02
13,949.13
13,712.19
13,473.17
13,255.24
13,035.41
12,813.65
12,589.95
12,364.30
12,136.69
11,907.08
11,675.48
11,441.85
11,206.20
10,968.49
10,728.72
10,510.46
10,290.30
10,068.22

368.07
368.25
368.43
368.62
368.80
368.99
369.17
369.36
369.54
346.85
347.02
347.20
347.37
347.54
347.72
347.89
348.07
348.24
348.41
348.59
348.76
325.76
325.93
326.09
326.25
326.42
326.58
326.74
326.91
327.07
327.23
327.40
327.56
304.13
304.28
304.44

0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%

1.07035
1.07088
1.07142
1.07195
1.07249
1.07303
1.07356
1.07410
1.07464
1.07517
1.07571
1.07625
1.07679
1.07733
1.07786
1.07840
1.07894
1.07948
1.08002
1.08056
1.08110
1.08164
1.08218
1.08272
1.08327
1.08381
1.08435
1.08489
1.08543
1.08598
1.08652
1.08706
1.08761
1.08815
1.08869
1.08924

9,844.22
9,618.27
9,390.36
9,160.47
8,928.59
8,694.70
8,458.78
8,220.83
7,980.82
7,763.01
7,543.31
7,321.72
7,098.21
6,872.78
6,645.39
6,416.05
6,184.73
5,951.41
5,716.09
5,478.74
5,239.35
5,023.56
4,805.91
4,586.38
4,364.97
4,141.66
3,916.44
3,689.28
3,460.17
3,229.10
2,996.06
2,761.01
2,523.96
2,314.79
2,103.83
1,891.06

304.59
304.74
304.89
305.05
305.20
305.35
305.50
305.66
305.81
281.69
281.83
281.97
282.11
282.25
282.39
282.53
282.67
282.82
282.96
283.10
283.24
257.73
257.86
257.99
258.12
258.25
258.38
258.50
258.63
258.76
258.89
259.02
259.15
229.37
229.49
229.60

0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%
0.05%

1.08978
1.09033
1.09087
1.09142
1.09196
1.09251
1.09306
1.09360
1.09415

1,676.48
1,460.06
1,241.80
1,021.68
799.67
575.78
349.98
122.26
0.00

229.72
229.83
229.95
230.06
230.18
230.29
230.41
230.52
123.24
69,218.17

SALDO DEVEDOR "Price x SAC x SAM x SACRE"


45,000
40,000
35,000
30,000
25,000
20,000
15,000
10,000
5,000
-

No.
0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26

Price
40,000.00
39,914.24
39,827.59
39,740.05
39,651.60
39,562.24
39,471.96
39,380.75
39,288.61
39,195.53
39,101.51
39,006.52
38,910.57
38,813.65
38,715.75
38,616.86
38,516.98
38,416.09
38,314.19
38,211.27
38,107.32
38,002.33
37,896.30
37,789.21
37,681.06
37,571.85
37,461.55

SAC
40,000.00
39,797.67
39,595.12
39,392.36
39,189.39
38,986.21
38,782.81
38,579.20
38,375.38
38,171.34
37,967.09
37,762.63
37,557.95
37,353.06
37,147.95
36,942.63
36,737.10
36,531.35
36,325.38
36,119.20
35,912.81
35,706.19
35,499.37
35,292.33
35,085.07
34,877.59
34,669.90

SAM
40,000.00
39,855.95
39,711.36
39,566.20
39,420.49
39,274.22
39,127.38
38,979.98
38,832.00
38,683.44
38,534.30
38,384.57
38,234.26
38,083.35
37,931.85
37,779.75
37,627.04
37,473.72
37,319.78
37,165.23
37,010.06
36,854.26
36,697.83
36,540.77
36,383.07
36,224.72
36,065.72

SACRE
40,000.00
39,797.67
39,593.45
39,387.34
39,179.32
38,969.37
38,757.48
38,543.64
38,327.82
38,110.01
37,890.19
37,668.35
37,444.47
37,240.20
37,034.04
36,825.98
36,616.00
36,404.09
36,190.23
35,974.40
35,756.60
35,536.79
35,314.98
35,091.14
34,865.25
34,659.08
34,451.01

27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79

37,350.16
37,237.68
37,124.09
37,009.38
36,893.55
36,776.59
36,658.49
36,539.23
36,418.82
36,297.23
36,174.46
36,050.51
35,925.35
35,798.99
35,671.41
35,542.60
35,412.55
35,281.26
35,148.70
35,014.88
34,879.78
34,743.39
34,605.70
34,466.70
34,326.38
34,184.73
34,041.74
33,897.39
33,751.68
33,604.60
33,456.13
33,306.26
33,154.99
33,002.29
32,848.17
32,692.60
32,535.58
32,377.09
32,217.12
32,055.66
31,892.70
31,728.23
31,562.23
31,394.69
31,225.60
31,054.95
30,882.72
30,708.91
30,533.49
30,356.45
30,177.79
29,997.49
29,815.53

34,462.00
34,253.87
34,045.53
33,836.98
33,628.20
33,419.21
33,210.00
33,000.57
32,790.93
32,581.07
32,370.99
32,160.69
31,950.17
31,739.44
31,528.48
31,317.31
31,105.92
30,894.31
30,682.48
30,470.43
30,258.16
30,045.67
29,832.96
29,620.03
29,406.88
29,193.51
28,979.92
28,766.10
28,552.07
28,337.82
28,123.34
27,908.64
27,693.72
27,478.58
27,263.22
27,047.63
26,831.82
26,615.79
26,399.54
26,183.06
25,966.37
25,749.44
25,532.30
25,314.93
25,097.33
24,879.52
24,661.48
24,443.21
24,224.72
24,006.00
23,787.07
23,567.90
23,348.51

35,906.08
35,745.77
35,584.81
35,423.18
35,260.88
35,097.90
34,934.24
34,769.90
34,604.87
34,439.15
34,272.73
34,105.60
33,937.76
33,769.21
33,599.95
33,429.96
33,259.24
33,087.78
32,915.59
32,742.65
32,568.97
32,394.53
32,219.33
32,043.37
31,866.63
31,689.12
31,510.83
31,331.75
31,151.88
30,971.21
30,789.74
30,607.45
30,424.36
30,240.44
30,055.69
29,870.12
29,683.70
29,496.44
29,308.33
29,119.36
28,929.53
28,738.84
28,547.26
28,354.81
28,161.47
27,967.23
27,772.10
27,576.06
27,379.10
27,181.23
26,982.43
26,782.70
26,582.02

34,241.03
34,029.13
33,815.30
33,599.50
33,381.74
33,161.99
32,940.24
32,716.47
32,490.67
32,262.81
32,054.79
31,844.86
31,633.02
31,419.25
31,203.54
30,985.87
30,766.22
30,544.58
30,320.93
30,095.26
29,867.54
29,637.77
29,427.95
29,216.23
29,002.58
28,787.01
28,569.48
28,349.99
28,128.52
27,905.05
27,679.57
27,452.06
27,222.50
26,990.88
26,779.34
26,565.89
26,350.52
26,133.21
25,913.95
25,692.72
25,469.51
25,244.29
25,017.06
24,787.79
24,556.47
24,323.09
24,109.93
23,894.85
23,677.85
23,458.91
23,238.01
23,015.14
22,790.28

80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
101
102
103
104
105
106
107
108
109
110
111
112
113
114
115
116
117
118
119
120
121
122
123
124
125
126
127
128
129
130
131
132

29,631.91
29,446.60
29,259.61
29,070.90
28,880.47
28,688.31
28,494.39
28,298.71
28,101.26
27,902.01
27,700.96
27,498.08
27,293.37
27,086.80
26,878.37
26,668.07
26,455.86
26,241.74
26,025.70
25,807.71
25,587.77
25,365.85
25,141.94
24,916.03
24,688.10
24,458.12
24,226.10
23,992.00
23,755.81
23,517.53
23,277.11
23,034.56
22,789.86
22,542.98
22,293.91
22,042.63
21,789.13
21,533.38
21,275.37
21,015.08
20,752.50
20,487.59
20,220.35
19,950.75
19,678.78
19,404.42
19,127.65
18,848.44
18,566.79
18,282.66
17,996.05
17,706.92
17,415.26

23,128.90
22,909.06
22,688.99
22,468.70
22,248.18
22,027.44
21,806.47
21,585.27
21,363.85
21,142.20
20,920.32
20,698.22
20,475.89
20,253.33
20,030.54
19,807.53
19,584.28
19,360.81
19,137.11
18,913.19
18,689.03
18,464.65
18,240.03
18,015.19
17,790.11
17,564.81
17,339.28
17,113.52
16,887.53
16,661.30
16,434.85
16,208.17
15,981.25
15,754.11
15,526.73
15,299.12
15,071.28
14,843.21
14,614.91
14,386.38
14,157.61
13,928.61
13,699.38
13,469.91
13,240.22
13,010.28
12,780.12
12,549.72
12,319.09
12,088.23
11,857.13
11,625.80
11,394.23

26,380.40
26,177.83
25,974.30
25,769.80
25,564.33
25,357.87
25,150.43
24,941.99
24,732.55
24,522.10
24,310.64
24,098.15
23,884.63
23,670.07
23,454.46
23,237.80
23,020.07
22,801.28
22,581.41
22,360.45
22,138.40
21,915.25
21,690.99
21,465.61
21,239.11
21,011.47
20,782.69
20,552.76
20,321.67
20,089.41
19,855.98
19,621.37
19,385.56
19,148.54
18,910.32
18,670.88
18,430.21
18,188.30
17,945.14
17,700.73
17,455.05
17,208.10
16,959.86
16,710.33
16,459.50
16,207.35
15,953.89
15,699.08
15,442.94
15,185.45
14,926.59
14,666.36
14,404.75

22,563.42
22,334.54
22,103.62
21,870.64
21,635.60
21,420.94
21,204.36
20,985.85
20,765.41
20,543.00
20,318.62
20,092.25
19,863.87
19,633.47
19,401.03
19,166.53
18,929.97
18,713.96
18,496.05
18,276.20
18,054.41
17,830.67
17,604.94
17,377.23
17,147.51
16,915.77
16,681.98
16,446.14
16,208.23
15,991.11
15,772.08
15,551.12
15,328.21
15,103.35
14,876.52
14,647.70
14,416.87
14,184.02
13,949.13
13,712.19
13,473.17
13,255.24
13,035.41
12,813.65
12,589.95
12,364.30
12,136.69
11,907.08
11,675.48
11,441.85
11,206.20
10,968.49
10,728.72

133
134
135
136
137
138
139
140
141
142
143
144
145
146
147
148
149
150
151
152
153
154
155
156
157
158
159
160
161
162
163
164
165
166
167
168
169
170
171
172
173
174
175
176
177
178
179
180

17,121.05
16,824.27
16,524.90
16,222.91
15,918.29
15,611.02
15,301.07
14,988.42
14,673.05
14,354.93
14,034.06
13,710.40
13,383.93
13,054.63
12,722.47
12,387.44
12,049.51
11,708.65
11,364.85
11,018.08
10,668.31
10,315.52
9,959.70
9,600.80
9,238.81
8,873.71
8,505.46
8,134.05
7,759.45
7,381.62
7,000.56
6,616.22
6,228.59
5,837.63
5,443.33
5,045.64
4,644.56
4,240.04
3,832.07
3,420.61
3,005.63
2,587.11
2,165.02
1,739.33
1,310.02
877.04
440.38
-

11,162.43
10,930.39
10,698.12
10,465.62
10,232.88
9,999.90
9,766.69
9,533.24
9,299.56
9,065.64
8,831.48
8,597.09
8,362.46
8,127.59
7,892.49
7,657.15
7,421.57
7,185.76
6,949.71
6,713.42
6,476.89
6,240.12
6,003.12
5,765.88
5,528.39
5,290.67
5,052.71
4,814.51
4,576.07
4,337.40
4,098.48
3,859.32
3,619.92
3,380.28
3,140.40
2,900.28
2,659.92
2,419.32
2,178.48
1,937.39
1,696.07
1,454.50
1,212.69
970.63
728.34
485.80
243.02
-

14,141.74
13,877.33
13,611.51
13,344.27
13,075.58
12,805.46
12,533.88
12,260.83
11,986.30
11,710.29
11,432.77
11,153.74
10,873.19
10,591.11
10,307.48
10,022.29
9,735.54
9,447.20
9,157.28
8,865.75
8,572.60
8,277.82
7,981.41
7,683.34
7,383.60
7,082.19
6,779.09
6,474.28
6,167.76
5,859.51
5,549.52
5,237.77
4,924.25
4,608.96
4,291.86
3,972.96
3,652.24
3,329.68
3,005.27
2,679.00
2,350.85
2,020.80
1,688.85
1,354.98
1,019.18
681.42
341.70
0.00

10,510.46
10,290.30
10,068.22
9,844.22
9,618.27
9,390.36
9,160.47
8,928.59
8,694.70
8,458.78
8,220.83
7,980.82
7,763.01
7,543.31
7,321.72
7,098.21
6,872.78
6,645.39
6,416.05
6,184.73
5,951.41
5,716.09
5,478.74
5,239.35
5,023.56
4,805.91
4,586.38
4,364.97
4,141.66
3,916.44
3,689.28
3,460.17
3,229.10
2,996.06
2,761.01
2,523.96
2,314.79
2,103.83
1,891.06
1,676.48
1,460.06
1,241.80
1,021.68
799.67
575.78
349.98
122.26
0.00

Elaborado p/ Prof. Breno de Campos

Breno de Campos

M x SACRE"

Price
SAC
SACR
E
SAM

CONSRCIO x FINANCIAMENTO
Financiamento
VPL

-8,797.95

CONSRCIO
Sorteio
1o. Ms

Sorteio
12o. Ms

Sorteio
20o. Ms

Sorteio
36o. Ms

4,977.70

1,898.21

-138.94

-3,757.52

1.0%
Taxa
Juro Fin.

0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29

2.00%

30,000.00
-863.04
-863.04
-863.04
-863.04
-863.04
-863.04
-863.04
-863.04
-863.04
-863.04
-863.04
-863.04
-863.04
-863.04
-863.04
-863.04
-863.04
-863.04
-863.04
-863.04
-863.04
-863.04
-863.04
-863.04
-863.04
-863.04
-863.04
-863.04
-863.04

Taxa Adm.
Prestao
29,450.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00

10.0%
550.00

-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
29,450.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00

Prazo (meses)
###
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
29,450.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00

-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00

30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60

-863.04
-863.04
-863.04
-863.04
-863.04
-863.04
-863.04
-863.04
-863.04
-863.04
-863.04
-863.04
-863.04
-863.04
-863.04
-863.04
-863.04
-863.04
-863.04
-863.04
-863.04
-863.04
-863.04
-863.04
-863.04
-863.04
-863.04
-863.04
-863.04
-863.04
-863.04

-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00

-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00

-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00

-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
29,450.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00

Elaborado p/ Prof. Breno de Campos

Breno de Campos

IO
Sorteio
48o. Ms

Sorteio
60o. Ms

-6,117.46

-8,211.78

60

-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00

-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00

-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
29,450.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00

-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
-550.00
29,450.00

Exemplo de Emprstimo em Moeda Estrangeira


Valor do Financiamento :
Nmero de Amortizaes :
Carncia c/ pagto de juros :
LIBOR (6 meses) :
Spread :
CUSTO DA OPERAO aa :

1,000,000.00 US$
12 Semestres
4 Semestres
6.00% aa
1.50% aa

Comisso Repasse :
Imposto de Renda :
Flat Fee :
Flat Fee em US$ :

2.00%
15.00%
1.00%
10,000.00

11.18%

Semestre

Saldo Dev.

Amortizao

Juros

Com. Repasse

Imp. Renda

Total Pgto

Fluxo de Caixa

0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16

1,000,000.00
1,000,000.00
1,000,000.00
1,000,000.00
1,000,000.00
916,666.67
833,333.33
750,000.00
666,666.67
583,333.33
500,000.00
416,666.67
333,333.33
250,000.00
166,666.67
83,333.33
0.00

0.00
0.00
0.00
0.00
83,333.33
83,333.33
83,333.33
83,333.33
83,333.33
83,333.33
83,333.33
83,333.33
83,333.33
83,333.33
83,333.33
83,333.33

37,500.00
37,500.00
37,500.00
37,500.00
37,500.00
34,375.00
31,250.00
28,125.00
25,000.00
21,875.00
18,750.00
15,625.00
12,500.00
9,375.00
6,250.00
3,125.00

10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
9,166.67
8,333.33
7,500.00
6,666.67
5,833.33
5,000.00
4,166.67
3,333.33
2,500.00
1,666.67
833.33

5,625.00
5,625.00
5,625.00
5,625.00
5,625.00
5,156.25
4,687.50
4,218.75
3,750.00
3,281.25
2,812.50
2,343.75
1,875.00
1,406.25
937.50
468.75

53,125.00
53,125.00
53,125.00
53,125.00
136,458.33
132,031.25
127,604.17
123,177.08
118,750.00
114,322.92
109,895.83
105,468.75
101,041.67
96,614.58
92,187.50
87,760.42

990,000.00
-53,125.00
-53,125.00
-53,125.00
-53,125.00
-136,458.33
-132,031.25
-127,604.17
-123,177.08
-118,750.00
-114,322.92
-109,895.83
-105,468.75
-101,041.67
-96,614.58
-92,187.50
-87,760.42

1,000,000.00

393,750.00

105,000.00

59,062.50

1,557,812.50

Total

Elaborado p/ Prof. Breno de Campos

Breno de Campos

Exemplo de Financiamento p/ Sistema BNDES/FINAME


Valor do Financiamento :

360,000.00
5.50%
5.50%
2.00%
7.50%
1.50%

TJLP :
Parcela de Juro da TJLP :
Spread Bsico
Juros TJLP + Spread :
Spread de Risco/Del Credere :
Dias do ano :

360

Dias

Saldo Devedor

15-Dec-12
15-Jan-13
15-Feb-13
15-Mar-13
15-Apr-13
15-May-13
15-Jun-13
15-Jul-13
15-Aug-13
15-Sep-13
15-Oct-13
15-Nov-13
15-Dec-13
15-Jan-14
15-Feb-14
15-Mar-14
15-Apr-14
15-May-14
15-Jun-14
15-Jul-14
15-Aug-14
15-Sep-14
15-Oct-14
15-Nov-14
15-Dec-14
15-Jan-15
15-Feb-15
15-Mar-15
15-Apr-15
15-May-15
15-Jun-15
15-Jul-15
15-Aug-15
15-Sep-15
15-Oct-15
15-Nov-15
15-Dec-15
15-Jan-16
15-Feb-16
15-Mar-16
15-Apr-16
15-May-16
15-Jun-16
15-Jul-16
15-Aug-16
15-Sep-16
15-Oct-16
15-Nov-16
15-Dec-16
Total

90
92
92
91
31
31
28
31
30
31
30
31
31
30
31
30
31
31
28
31
30
31
30
31
31
30
31
30
31
31
29
31
30
31
30
31
31
30
31
30

12 meses
36 meses
48 meses
URTJ (**)

CUSTO REAL DA OPERAO aa :

9.23%
9.23%

(**) Moeda do Sistema BNDES corrigida diriamente p/


parcela da TJLP que excede a 6% aa

(*) Taxa Efetiva utilizando o ano de 360 dias

Data

Carncia :
Amortizao :
Prazo Total :
Moeda :

Amortizao

Juros (*) Del Credere (*)

Pagamento

Fluxo de Caixa

360,000.00

360,000.00

360,000.00
360,000.00

0
0

0
0

0
0

0
0

0.00
0.00

360,000.00

6,568.06

1,342.47

7,910.53

-7,910.53

360,000.00
360,000.00
360,000.00
360,000.00
360,000.00
360,000.00
360,000.00
360,000.00
360,000.00
350,000.00
340,000.00
330,000.00
320,000.00
310,000.00
300,000.00
290,000.00
280,000.00
270,000.00
260,000.00
250,000.00
240,000.00
230,000.00
220,000.00
210,000.00
200,000.00
190,000.00
180,000.00
170,000.00
160,000.00
150,000.00
140,000.00
130,000.00
120,000.00
110,000.00
100,000.00
90,000.00
80,000.00
70,000.00
60,000.00
50,000.00
40,000.00
30,000.00
20,000.00
10,000.00
0.00

0
0
0
0
0
0
0
0
0
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00

0
0
6,715.37
0
0
6,715.37
0
0
6,641.70
2,248.94
2,186.47
1,917.87
2,061.52
1,934.37
1,936.58
1,813.48
1,811.64
1,749.17
1,632.13
1,624.23
1,511.23
1,499.29
1,436.82
1,240.97
1,311.88
1,208.98
1,186.94
1,088.09
1,062.00
999.53
906.74
874.59
785.84
749.65
687.17
584.28
562.23
483.59
437.29
362.70
312.35
249.88
181.35
124.94
60.45

0
0
1,372.36
0
0
1,372.36
0
0
1,357.42
461.84
449.01
393.95
423.36
397.28
397.70
372.45
372.04
359.21
335.20
333.55
310.37
307.90
295.07
254.91
269.41
248.30
243.75
223.47
218.09
205.26
186.22
179.61
161.39
153.95
141.12
120.01
115.46
99.32
89.80
74.49
64.14
51.32
37.24
25.66
12.41

0
0
8,087.73
0
0
8,087.73
0
0
7,999.12
12,710.78
12,635.48
12,311.82
12,484.88
12,331.65
12,334.28
12,185.92
12,183.68
12,108.38
11,967.33
11,957.78
11,821.60
11,807.19
11,731.89
11,495.88
11,581.29
11,457.28
11,430.69
11,311.55
11,280.09
11,204.79
11,092.96
11,054.19
10,947.23
10,903.59
10,828.29
10,704.29
10,677.69
10,582.91
10,527.10
10,437.18
10,376.50
10,301.20
10,218.59
10,150.60
10,072.86

0.00
0.00
-8,087.73
0.00
0.00
-8,087.73
0.00
0.00
-7,999.12
-12,710.78
-12,635.48
-12,311.82
-12,484.88
-12,331.65
-12,334.28
-12,185.92
-12,183.68
-12,108.38
-11,967.33
-11,957.78
-11,821.60
-11,807.19
-11,731.89
-11,495.88
-11,581.29
-11,457.28
-11,430.69
-11,311.55
-11,280.09
-11,204.79
-11,092.96
-11,054.19
-10,947.23
-10,903.59
-10,828.29
-10,704.29
-10,677.69
-10,582.91
-10,527.10
-10,437.18
-10,376.50
-10,301.20
-10,218.59
-10,150.60
-10,072.86

360,000.00

67,465.68

13,828.87

441,294.55

ANLISE DE INVESTIMENTO
Funes Financeiras do Excel
Verso 3.75

19-Sep-12

BRENO DE CAMPOS
(31) 3227-4852
brenocampos@terra.com.br

Breno de Campos

NTO
Excel

ROI

CAPITAL TERCEIROS (DE


12.00%

RENTABILIDADE
DO
INVESTIMENTO

INVESTIMENTO
PROJETO
TOTAL

Kd

CMPC ou
TMA

$100,000

CAPITAL PRPRIO (EQU

"Return on Investment"
ROI
Anlise Econmica

18.00%
Ke

CUSTO MDIO PONDERADO DE CAPITAL - WAC


(*) Se a empresa tributada pelo Lucro Real

Taxa Mnima de Atratividade :


Imposto s/ Lucro T (*) :

Elaborado p/ Prof. Breno de Campos

Pgina 253

ROI

Pgina 254

ROI

Pgina 255

ROI

Breno de Campos

Pgina 256

ROI

CAPITAL TERCEIROS (DEBT)


60.0%

$60,000

Wd

CAPITAL PRPRIO (EQUITY)


40.0%

$40,000

We

ONDERADO DE CAPITAL - WACC

de Atratividade :

12.24%

30%

Pgina 257

ROI

Pgina 258

ROI

Pgina 259

ROI

Pgina 260

ROE

FINANCIAMENTO (DEBT)
12.00%
K

60.0%
Wd

PROJETO
TOTAL

100,000

CAPITAL PRPRIO (EQUITY)


Anlise Financeira

18.00%
K

40.0%
We

RENTABILIDADE DO CAPITAL PRPRIO


"Return on Equity"
ROE

Elaborado p/ Prof. Breno de Campos

Pgina 261

ROE

Pgina 262

ROE

Pgina 263

ROE

Breno de Campos

Pgina 264

ROE

CIAMENTO (DEBT)
60,000

PRPRIO (EQUITY)
40,000
We

ADE DO CAPITAL PRPRIO

Pgina 265

ROE

Pgina 266

ROE

Pgina 267

ROE

Pgina 268

TRIBUTAO DO RESULTADO DO EXERCCIO


Apurao do Imposto pelo Lucro Real
DISCRIMINAO

BASE DE CLCULO

Lucro Tributvel
Contrib. Social : 9% sobre BC
IR Federal : 15% sobre BC
10% sobre BC (*)

VALOR (R$)

PERCENTUAL

100,000.00

100.00%
9.00%

9%

100,000.00

9,000.00

15%

100,000.00

15,000.00

10%

240,000.00

Total IR Total

15,000.00

15.00%

IR + Contribuio Social

24,000.00

24.00%

(*) IR Adicional : 10% sobre o Lucro Tributvel que ultrapassar R$

R$ 240,000.00

(Base anual)

COMPENSAO DO IMPOSTO DE RENDA E DA CONTRIBUIO SOCIAL


DISCRIMINAO

2015

2016

2017

-200,000

100,000

200,000

(200,000)
0

-200,000

-30,000
-170,000

-60,000
-110,000

-200,000

70,000

140,000

(16,800)

(33,600)

(200,000)

83,200

166,400

R$

240,000.00

LUCRO TRIBUTVEL
Prejuzo
Prej a compensar

30%

PREJUZO ACUM.
Base clculo IR/CS
IR/CSLL
LUCRO LQUIDO
IR/CSLL BSICO
ADICIONAL

24.0%
10.0% acima de

Elaborado p/ Prof. Breno de Campos

Breno de Campos

A CONTRIBUIO SOCIAL
2018

2019

600,000

900,000

-110,000
0

490,000

900,000

(142,600)

(282,000)

457,400

618,000

MODELO CAPM
"Capital Asset Pricing Model"
CUSTO CAP. PRPRIO = TX S/ RISCO + BETA X ( RENTAB. MKT - TAXA S/ RISCO)

Ke = Rf + Beta x (Rm - Rf)


TAXA S/ RISCO (Rf)

4.0% aa

RENTAB. DO MERCADO (Rm)

13.0% aa

BETA

Ref. Remun. Letra do Tesouro Brasileiro


Ref. Remun. IBOVESPA

1.97

CUSTO CAP. PRPRIO

(Ke)

21.7% aa

Obs. : Todas as Taxas de Juro acima so Reais

CLCULO DO BETA
Mercado (x)
23.8%
-7.2%
10.0%
6.6%
-10.5%
20.6%

Cia A (y)
38.6%
-24.7%
18.0%
12.3%
-20.4%
40.1%

BETA (*)
BETA (**)

1.9684
1.9684
0

(*) Inclinao Grfico Mercado x Empresa


(**) Covar.da Empresa c/ Mercado / Var. do Mercado

<<< Retorno Mdio

7.2%

10.7%

14.0%

28.0%

<<< Desvio Padro Amostral

12.8%

25.6%

<<< Desvio Padro da Populao

3.2%

<<< Covarincia

Mercado x Empresa
50.0%
40.0%

Mercad
30.0%

Empres

Mercado x Empresa
50.0%
40.0%

Mercad

Empres

30.0%
20.0%
10.0%
0.0%
1

-10.0%
-20.0%
-30.0%

Elaborado p/ Prof. Breno de Campos

Breno de Campos

TAXA S/ RISCO)

n. Letra do Tesouro Brasileiro

n. IBOVESPA

Cia B (y)

0 = Beta <0
0 <> Beta > 1

do x Empresa
rcado / Var. do Mercado

Mercado
Empresa

9.0%
-1.4%
4.7%
2.4%
-3.4%
11.4%

Cia A
(y)
38.6%
-24.7%
18.0%
12.3%
-20.4%
40.1%

Mercado
Empresa

PROJETO SEM FINANCIAMENTO - Avaliao Econmica - Lucro Real


DISCRIMINAO
INVESTIMENTO
CAPITAL DE GIRO

Ano 0

CUSTOS TOTAIS
LUCRO OPERACIONAL
DEPRECIAO (Vida til : 5 anos)

LUCRO TRIBUTVEL
LUCRO LQUIDO
Ajustes
DEPRECIAO
VALOR RESIDUAL - VENDA DO VECULO
RECUPERAO CAPITAL DE GIRO
FLUXO CAIXA DO PROJETO

RENTABILIDADE DO PROJETO
O Projeto
TAXA MNIMA DE ATRATIVIDADE
Capital de Terceiros
Capital Prprio

Ano 2

Ano 3

60,000

60,000

60,000

-48,000

-48,000

-48,000

12,000

12,000

12,000

-5,000

-5,000

-5,000

7,000

7,000

7,000

-2,100

-2,100

-2,100

4,900

4,900

4,900

5,000

5,000

5,000

9,900

9,900

9,900

IR/CS
30.00%

Tx Lq.
8.40%
18.00%

-30,000
-2,000

RECEITA LQUIDA

IMP. RENDA/CONTRIB. SOC.

Ano 1

30.0%

-32,000

Vivel
Perc.
60.00%
40.00%

20.55% aa
Economicamente
Tx Bruta
12.00%
18.00%

PROJETO COM FINANCIAMENTO


Financiamento
DISCRIMINAO

Ano 0

Ano 1

Ano 2

Ano 3

FINANCIAMENTO
SALDO DEVEDOR
JUROS
AMORTIZAO

19,200
19,200
12.0%
3

19,200
-2,304
0

12,800
-2,304
-6,400

6,400
-1,536
-6,400

FLUXO DO FINANCIAMENTO

19,200

-2,304

-8,704

-7,936

Ano 1

Ano 2

Ano 3

60,000
-48,000
12,000
-2,304
-5,000
4,696
-1,409
3,287

60,000
-48,000
12,000
-2,304
-5,000
4,696
-1,409
3,287

60,000
-48,000
12,000
-1,536
-5,000
5,464
-1,639
3,825

5,000

5,000

5,000

-6,400

-6,400

8,287

1,887

2,425

Avaliao Financeira
DISCRIMINAO

Ano 0

INVESTIMENTO
CAPITAL DE GIRO
RECEITA LQUIDA
CUSTOS TOTAIS
LUCRO OPERACIONAL
DESPESAS FINANCEIRAS
DEPRECIAO (Vida til : 5 anos)
LUCRO TRIBUTVEL
IMP. RENDA/CONTRIB. SOC.
LUCRO LQUIDO
Ajustes
DEPRECIAO
FINANCIAMENTO
AMORTIZAO
VALOR RESIDUAL - VENDA DO VECULO
RECUPERAO CAPITAL DE GIRO

-30,000
-2,000

FLUXO CAIXA DO CAP. PRPRIO

-12,800

5
30.0%

19,200

RENTABILIDADE DO CAPITAL PRPRIO

35.08% aa

RENTABILIDADE DO PROJETO

20.55% aa

CUSTO DOS RECURSOS PRPRIOS

18.00% aa

O Projeto

Vivel

Financeiramente

Ano 4

Ano 5

60,000

60,000

-48,000

-48,000

12,000

12,000

-5,000

-5,000

7,000

7,000

-2,100

-2,100

4,900

4,900

5,000

5,000
5,000
2,000
16,900

9,900

VPL DO PROJETO :
7,405.82
12.24%

Ano 4

-768
-6,400

Ano 5

-7,168

Ano 4

Ano 5

60,000
-48,000
12,000
-768
-5,000
6,232
-1,870
4,362

60,000
-48,000
12,000
0
-5,000
7,000
-2,100
4,900

5,000

5,000

-6,400

0
5,000
2,000
16,900

2,962

VPL CAP. PRPRIO :


5,969.34

PROJETO S/ FINANCIAMENTO - Avaliao Econmica - Tributao p/ Lucro Pre


DISCRIMINAO
INVESTIMENTO
CAPITAL DE GIRO
RECEITA BRUTA
Impostos s/ Receita Bruta

Ano 0

Ano 1

Ano 2

Ano 3

70,000
-3,955

70,000
-3,955

70,000
-3,955

66,045

66,045

66,045

-48,000

-48,000

-48,000

-30,000
-2,000
5.65%

RECEITA LQUIDA
CUSTOS TOTAIS
LUCRO PRESUMIDO s/ Rec. Bruta

15.0%

10,500

10,500

10,500

IMP. RENDA/CONTRIB. SOC.

24.0%

-2,520

-2,520

-2,520

15,525

15,525

15,525

15,525

15,525

15,525

IR/CSLL
0.00%

Tx Lq.
12.00%
18.00%

LUCRO LQUIDO
Ajustes
VALOR RESIDUAL - VENDA DO VECULO
RECUPERAO CAPITAL DE GIRO
FLUXO CAIXA DO PROJETO

RENTABILIDADE DO PROJETO
O Projeto

TAXA MNIMA DE ATRATIVIDADE


Capital de Terceiros
Capital Prprio

-32,000

Vivel

Perc.
60.00%
40.00%

41.59% aa
Economicamente

Tx Bruta
12.00%
18.00%

PROJETO COM FINANCIAMENTO


Financiamento
DISCRIMINAO
FINANCIAMENTO
SALDO DEVEDOR
JUROS
AMORTIZAO
FLUXO DO FINANCIAMENTO

Ano 0

Ano 1

Ano 2

Ano 3

19,200
19,200
12.00%
3

19,200
-2,304
0

12,800
-2,304
-6,400

6,400
-1,536
-6,400

19,200

-2,304

-8,704

-7,936

Ano 1

Ano 2

Ano 3

70,000
-3,955
66,045
-48,000
10,500
-2,520
15,525

70,000
-3,955
66,045
-48,000
10,500
-2,520
15,525

70,000
-3,955
66,045
-48,000
10,500
-2,520
15,525

Avaliao Financeira
DISCRIMINAO

Ano 0

INVESTIMENTO
CAPITAL DE GIRO
RECEITA BRUTA
Impostos s/ Receita Bruta
RECEITA LQUIDA
CUSTOS TOTAIS
LUCRO PRESUMIDO s/ Rec. Bruta
IMP. RENDA/CONTRIB. SOC.
LUCRO LQUIDO
Ajustes
FLUXO DO FINANCIAMENTO
VALOR RESIDUAL - VENDA DO VECULO
RECUPERAO CAPITAL DE GIRO

-30,000
-2,000

19,200

-2,304

-8,704

-7,936

FLUXO CAIXA DO CAP. PRPRIO

-12,800

13,221

6,821

7,589

5.65%

15.0%
24.0%

RENTABILIDADE DO CAPITAL PRPRIO

79.56% aa

RENTABILIDADE DO PROJETO

41.59% aa

CUSTO DOS RECURSOS PRPRIOS

18.00% aa

O Projeto

Vivel

Financeiramente

valiao Econmica - Tributao p/ Lucro Presumido


Ano 4

Ano 5

70,000
-3,955

70,000
-3,955

66,045

66,045

-48,000

-48,000

10,500

10,500

-2,520

-2,520

15,525

15,525

15,525

5,000
2,000
22,525

VPL DO PROJETO :
24,362.63

14.40%

Ano 4

Ano 5

0
-768
-6,400
-7,168

Ano 4

Ano 5

70,000
-3,955
66,045
-48,000
10,500
-2,520
15,525

70,000
-3,955
66,045
-48,000
10,500
-2,520
15,525

-7,168

0
5,000
2,000
22,525

8,357

VPL CAP. PRPRIO :


22,078.21

PROJETO S/ FINANCIAMENTO - Avaliao Econmica - Tributao p/ Simples


DISCRIMINAO
INVESTIMENTO
CAPITAL DE GIRO
RECEITA BRUTA
Impostos s/ Receita Bruta - Simples

Ano 0

12.50%

CUSTOS TOTAIS

RENTABILIDADE DO PROJETO
O Projeto

TAXA MNIMA DE ATRATIVIDADE


Capital de Terceiros
Capital Prprio

Ano 2

Ano 3

70,000
-8,750

70,000
-8,750

70,000
-8,750

61,250

61,250

61,250

-48,000

-48,000

-48,000

13,250

13,250

13,250

13,250

13,250

13,250

IR/CSLL
0.00%

Tx Lq.
12.00%
18.00%

-30,000
-2,000

RECEITA LQUIDA
LUCRO LQUIDO
Ajustes
VALOR RESIDUAL - VENDA DO VECULO
RECUPERAO CAPITAL DE GIRO
FLUXO CAIXA DO PROJETO

Ano 1

-32,000

Vivel

Perc.
60.00%
40.00%

33.30% aa
Economicamente

Tx Bruta
12.00%
18.00%

PROJETO COM FINANCIAMENTO


Financiamento
DISCRIMINAO
FINANCIAMENTO
SALDO DEVEDOR
JUROS
AMORTIZAO
FLUXO DO FINANCIAMENTO

Ano 0

Ano 1

Ano 2

Ano 3

19,200
19,200
12.00%
3

19,200
-2,304
0

12,800
-2,304
-6,400

6,400
-1,536
-6,400

19,200

-2,304

-8,704

-7,936

Ano 1

Ano 2

Ano 3

70,000
-8,750
61,250
-48,000
13,250

70,000
-8,750
61,250
-48,000
13,250

70,000
-8,750
61,250
-48,000
13,250

Avaliao Financeira
DISCRIMINAO

Ano 0

INVESTIMENTO
CAPITAL DE GIRO
RECEITA BRUTA
Impostos s/ Receita Bruta - Simples
RECEITA LQUIDA
CUSTOS TOTAIS
LUCRO LQUIDO
Ajustes
FLUXO DO FINANCIAMENTO
VALOR RESIDUAL - VENDA DO VECULO
RECUPERAO CAPITAL DE GIRO

-30,000
-2,000

19,200

-2,304

-8,704

-7,936

FLUXO CAIXA DO CAP. PRPRIO

-12,800

10,946

4,546

5,314

12.50%

RENTABILIDADE DO CAPITAL PRPRIO

59.85% aa

RENTABILIDADE DO PROJETO

33.30% aa

CUSTO DOS RECURSOS PRPRIOS

18.00% aa

O Projeto

Vivel

Financeiramente

valiao Econmica - Tributao p/ Simples


Ano 4

Ano 5

70,000
-8,750

70,000
-8,750

61,250

61,250

-48,000

-48,000

13,250

13,250

13,250

5,000
2,000
20,250

VPL DO PROJETO :
16,626.88

14.40%

Ano 4

Ano 5

0
-768
-6,400
-7,168

Ano 4

Ano 5

70,000
-8,750
61,250
-48,000
13,250

70,000
-8,750
61,250
-48,000
13,250

-7,168

0
5,000
2,000
20,250

6,082

VPL CAP. PRPRIO :


14,963.89

AVALIAO ECONMICA (Com Inflao)


DISCRIMINAO

Ano 0

Ano 1

Ano 2

Ano 3

Ano 4

INVESTIMENTO
Valor Residual
CAPITAL DE GIRO
RECEITA
Reajuste dos Preos
CUSTOS TOTAIS
Reajuste dos Custos
LUCRO OPERACIONAL

-30,000.00
5,000.00
-2,000.00
60,000.00

66,000.00

72,600.00

79,860.00

87,846.00

10%

10%

10%

10%

-48,000.00 -52,800.00

-58,080.00

-63,888.00

-70,276.80

DEPRECIAO
Reajuste p/ Inflao
LUCRO OPERACIONAL
IMP. RENDA/CONTRIB. SOC.

10%

10%

10%

10%

13,200.00

14,520.00

15,972.00

17,569.20

-5,000.00

-5,500.00

-6,050.00

-6,655.00

-7,320.50

10%

10%

10%

10%

7,700.00
-2,310.00

8,470.00
-2,541.00

9,317.00
-2,795.10

10,248.70
-3,074.61

5,390.00

5,929.00

6,521.90

7,174.09

5,500.00

6,050.00

6,655.00

7,320.50

10,890

11,979

13,177

14,495

30.0%

LUCRO LQUIDO
Ajustes
DEPRECIAO
VALOR RESIDUAL - VENDA DO VECULO
RECUPERAO CAPITAL DE GIRO

FLUXO CAIXA DO PROJETO

-32,000

RENTABILIDADE "NOMINAL" DO PROJETO


O Projeto
Vivel

Taxa de Inflao

32.61% aa
Economicamente

VPL DO PROJETO :

10.0% aa

RENTABILIDADE "REAL" DO PROJETO

20.55% aa

TAXA MNIMA DE ATRATIVIDADE


ESTRUTURA DE CAPITAL
Capital de Terceiros
Capital Prprio

Perc.
60.00%
40.00%

Taxa Real
Bruta
IR/CS
12.00%
30.00%
18.00%
-

Lquida
8.40%
18.00%

TMA
Real
12.24%

Elaborado p/ Prof. Breno de Campos

Breno de Campos

Ano 5

96,630.60
10%

-77,304.48
10%

19,326.12
-8,052.55
10%

11,273.57
-3,382.07
7,891.50
8,052.55
8,052.55
3,221.02
27,218

PL DO PROJETO :
7,405.82

TMA
Nominal
23.46%
19.24%
29.80%

PAYBACK
Start-up

Fluxo de Caixa Acumulado


4,000

Anos

0
1
2
3
4
5
6
7

Fluxo de
Caixa

Fluxo Caixa
Acumulado

(1,000.00)
(1,000.00)
400.00
(600.00)
500.00
(100.00)
500.00
400.00
600.00
1,000.00
700.00
1,700.00
700.00
2,400.00
700.00
3,100.00
PAYBACK anos

Teste

3,000

2.20
2.20

2,000
1,000
0

-1,000
-2,000

Anos

PAYBACK / PAYBACK DESCONTADO


Tx Desc.
Anos

0
1
2
3
4
5
6
7

Fluxo de
Caixa

(1,000.00)
500.00
500.00
500.00
500.00
500.00
500.00
500.00
PAYBACK

Start-up
12.00%
Fluxo Caixa
Desc.

(1,000.00)
446.43
398.60
355.89
317.76
283.71
253.32
226.17

Fluxo de Caixa Acumulado


2,000

Fluxo Caixa
Desc. Acum.

(1,000.00)
(553.57)
(154.97)
200.92
518.67
802.39
1,055.70
1,281.88
anos

Teste
1,000

2.44
2.44

0
0

-1,000

-2,000

Anos

Elaborado p/ Prof. Breno de Campos

Breno de Campos

Caixa Acumulado

Anos

xo de Caixa Acumulado

Anos

VALOR PRESENTE LQUIDO


Anos

Fluxo de Caixa

(1,000.00)
0
1
(200.00)
300.00
2
3
400.00
400.00
4
5
500.00
500.00
6
7
500.00
Total
1,400.00
VP Fluxos Negativos
VP Fluxos Positivos
Soma

Fluxo de Caixa
Descontado

(1,000.00)

VPL

(178.57)
239.16
284.71
254.21
283.71
253.32
226.17
362.71
(1,178.57)
1,541.28
362.71

Taxa Desc.

VPL x TAXA DE DESCONTO


1,500

1,000

500

-500

Tx. Desconto

362.71
12.00% aa

Dados p/ Grfico

0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26

Taxa
0.00%
1.00%
2.00%
3.00%
4.00%
5.00%
6.00%
7.00%
8.00%
9.00%
10.00%
11.00%
12.00%
13.00%
14.00%
15.00%
16.00%
17.00%
18.00%
19.00%
20.00%
21.00%
22.00%
23.00%
24.00%
25.00%
26.00%

TIR
VPL
1,400.00
1,281.81
1,170.87
1,066.65
968.66
876.46
789.64
707.83
630.68
557.88
489.12
424.15
362.71
304.57
249.52
197.36
147.91
100.99
56.46
14.17
(26.02)
(64.24)
(100.60)
(135.21)
(168.18)
(199.59)
(229.54)

19.35%
2

27
28
29
30

27.00%
28.00%
29.00%
30.00%

Elaborado p/ Prof. Breno de Campos

(258.11)
(285.37)
(311.41)
(336.28)

Breno de Campos

0.00% Mn
38.69% Mx
1.00% Delta

VALOR PRESENTE LQUIDO


Anos

Fluxo de Caixa

(1,000.00)
0
1
(200.00)
300.00
2
3
400.00
400.00
4
5
500.00
500.00
6
7
500.00
Total
1,400.00
VP Fluxos Negativos
VP Fluxos Positivos
Soma

Fluxo de Caixa
Descontado

(1,000.00)

VPL

(178.57)
239.16
284.71
254.21
283.71
253.32
226.17
362.71
(1,178.57)
1,541.28
362.71

Taxa Desc.

362.71
12.00% aa

Rentabilidade do Investimento
TIR
19.35% aa

VPL x TAXA DE DESCONTO


1,500

1,000

Taxa
Interna de
Retorno

500

-500

Tx. Desconto

Dados p/ Grfico

0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26

Taxa
0.00%
1.00%
2.00%
3.00%
4.00%
5.00%
6.00%
7.00%
8.00%
9.00%
10.00%
11.00%
12.00%
13.00%
14.00%
15.00%
16.00%
17.00%
18.00%
19.00%
20.00%
21.00%
22.00%
23.00%
24.00%
25.00%
26.00%

TIR
VPL
1,400.00
1,281.81
1,170.87
1,066.65
968.66
876.46
789.64
707.83
630.68
557.88
489.12
424.15
362.71
304.57
249.52
197.36
147.91
100.99
56.46
14.17
(26.02)
(64.24)
(100.60)
(135.21)
(168.18)
(199.59)
(229.54)

19.35%
2

27
28
29
30

27.00%
28.00%
29.00%
30.00%

Elaborado p/ Prof. Breno de Campos

(258.11)
(285.37)
(311.41)
(336.28)

Breno de Campos

Investimento

Taxa
Interna de
Retorno

0.00% Mn
38.69% Mx
1.00% Delta

CONFLITO VPL x TIR


Anos
0
1
2
3
Total
TIR

aa
8.0%
10.0%
15.0%

VPL

Fluxo de
Caixa A
-1,200.00
1,002.81
500.00
100.00
402.81

Fluxo de
Caixa B
-1,200.00
85.45
600.00
1,100.00
585.45

23.0%

16.9%

236.58
200.00
115.83

266.74
200.00
51.26

CONFLITO VPL x TIR


800
600

Projeto B

Projeto A
400

200
0
-200
-400

Dados p/ Grfico

TIR

0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30

Elaborado p/ Prof. Breno de Campos

Taxa
0.00%
1.00%
2.00%
3.00%
4.00%
5.00%
6.00%
7.00%
8.00%
9.00%
10.00%
11.00%
12.00%
13.00%
14.00%
15.00%
16.00%
17.00%
18.00%
19.00%
20.00%
21.00%
22.00%
23.00%
24.00%
25.00%
26.00%
27.00%
28.00%
29.00%
30.00%

VPL
402.81###
380.09
357.96
336.41
315.42
294.96
275.01
255.55
236.58
218.07
200.00
182.36
165.14
148.32
131.89
115.83
100.14
84.80
69.79
55.12
40.77
26.72
12.98
(0.48)
(13.65)
(26.55)
(39.19)
(51.57)
(63.70)
(75.58)
(87.23)

VPL
585.45
540.43
497.03
455.17
414.79
375.82
338.19
301.85
266.74
232.80
200.00
168.27
137.57
107.86
79.11
51.26
24.28
(1.85)
(27.18)
(51.74)
(75.55)
(98.65)
(121.06)
(142.82)
(163.93)
(184.44)
(204.36)
(223.71)
(242.51)
(260.79)
(278.56)

Breno de Campos

0.00% Mn

30.00% Mx
1.00% Delta

SRIE UNIFORME LQUIDA


Anos

0
1
2
3
4
5
6
7
Total

Fluxo de Caixa A

(1,000.00)
600.00
600.00
600.00
600.00
600.00
600.00
600.00
3,200.00

Fluxo de Caixa B

(1,000.00)
800.00
800.00
800.00
800.00

Fluxo de Caixa A

VPL A
SUL A

Fluxo de Caixa B

VPL B
SUL B
2,200.00

Taxa Desc.

Elaborado p/ Prof. Breno de Campos

Breno de Campos

Fluxo de Caixa A

1,738.25
380.88

Fluxo de Caixa B

1,429.88
470.77
12.0% aa

NDICE BENEFCIO / CUSTO


Anos

0
1
2
3
VPL
Anos

0
1
2
3
VPL

Fluxo de Caixa
Fluxos Negativos Fluxos Positivos
A

(20,000.00)

(20,000.00)

0.00

12,000.00
12,000.00
12,000.00
7,398.70

0.00
0.00
0.00
(20,000.00)

12,000.00
12,000.00
12,000.00
27,398.70

Fluxo de Caixa
Fluxos Negativos Fluxos Positivos
B

(60,000.00)

(60,000.00)

0.00

30,000.00
36,000.00
36,000.00
16,978.71

0.00
0.00
0.00
(60,000.00)

30,000.00
36,000.00
36,000.00
76,978.71

Fluxo de Caixa A

VPL
IB/C

Taxa Desc.

Fluxo de Caixa B

VPL
IB/C

Elaborado p/ Prof. Breno de Campos

Breno de Campos

Fluxo de Caixa A

7,398.70
1.37

15.00% aa
Fluxo de Caixa B

16,978.71
1.28

TAXAS INTERNAS DE RETORNO MLTIPLAS


Anos

0
1
2
3

Fluxo de Caixa

(1,560.00)
6,084.00
(7,893.60)
3,407.04

VPL
Taxa Desc.

VPL
Taxa Desc.

VPL
Taxa Desc.

0.00

TIR (1) =

20.00% aa

0.00

TIR (2) =

30.00% aa

0.00

TIR (3) =

40.00% aa

VPL x TAXA DE DESCONTO


2

Taxas Mltiplas

1
1
0
-1
-1
-2

Tx. Desconto

Elaborado p/ Prof. Breno de Campos

Dados p/ Grfico

0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26

Taxa
16.00%
17.00%
18.00%
19.00%
20.00%
21.00%
22.00%
23.00%
24.00%
25.00%
26.00%
27.00%
28.00%
29.00%
30.00%
31.00%
32.00%
33.00%
34.00%
35.00%
36.00%
37.00%
38.00%
39.00%
40.00%
41.00%
42.00%

TIR
VPL
1.34
0.87
0.50
0.21
(0.15)
(0.25)
(0.30)
(0.31)
(0.30)
(0.26)
(0.21)
(0.14)
(0.07)
0.07
0.13
0.18
0.22
0.24
0.24
0.22
0.17
0.10
(0.13)
(0.29)

16.00%
45.00%
1.00%

27
28
29
30

43.00%
44.00%
45.00%
46.00%

(0.48)
(0.70)
(0.96)
(1.25)

Breno de Campos

20.0% aa

30.0% aa

40.0% aa

Incio
Final
Delta

MTIR

TAXA INTERNA DE RETORNO MODIFICADA


Anos
0
1
2
3
4

Fluxo de Caixa
(1,000.00)
3,000.00
(4,000.00)
5,000.00
6,000.00
Total

TIR

Fluxo de Caixa
Positivos
Reinvestidos

Fluxo de Caixa
Negativos
Descontados

0.00
4,214.78
0.00
5,600.00
6,000.00

(1,000.00)
0.00
(3,188.78)
0.00
0.00

15,814.78

(4,188.78)

155.86%

Taxas

Fluxo de Caixa
Modificado
(4,188.78)
0.00
0.00
0.00
15,814.78

TIRM

39.39%

Funo MTIR

39.39%

Desc. / Financ.

Re-investimento

12.00%

12.00%

Pgina 368

MTIR

Pgina 369

MTIR

Pgina 370

MTIR

Elaborado p/ Prof. Breno de Campos

Pgina 371

MTIR

Pgina 372

MTIR

Pgina 373

MTIR

Breno de Campos

Pgina 374

ANLISE DE SENSIBILIDADE

I - IMPACTO DAS VARIVEIS SOBRE OS NDICES DE


AVALIAO DO PROJETO
Investimento / Valor Residual / Capital de Giro
Receitas / Custos Fixos e Variveis
Impostos
Vida til

II - DETERMINAO DAS VARIVEIS - CHAVE

III - TABELA CRUZADA COM AS VARIVEIS - CHAVE

IV - CONSTRUO DE CENRIOS

I / II - IMPACTO RELATIVO DAS VARIVEIS - CHAVE


Preo

Investimento

18.21%

18.21%

-10.0%

-10.0%

-10.0%

-10.0%

0.0%

0.0%

0.0%

0.0%

10.0%

10.0%

10.0%

10.0%

15.06%

Variao

Valor Residual

4.18%

Capital de Giro

18.21%

-10.0%

-10.0%

-10.0%

0.0%

0.0%

0.0%

10.0%

10.0%

10.0%

0.05%

Variao

0.39%

Preo : -20%, -10%, 0%, +10%, +20%


Custo Varivel : -10%, -5%, 0%,+5%,+10%
Investimento : -10%, 0%, +10%
III - EFEITO COMBINADO DAS VARIVEIS - CHAVE
Variao do Investimento :
Preo

-5.0%
0.0%
5.0%
10.0%

-20%

-10%

0%

0%
10%

20%

9.01%

Alquota IR / CS

18.21%

Variveis-Chave : Preo, Custo Varivel e Investimento

Custo
Varivel

Variao

18.21%

Variao

-10.0%

Custos Fixos

18.21%

Variao

18.21%

Custo Varivel

18.21%

Variao

1.41%

Variao

1.50%

Anlise de Sensibilidade
35.0%
30.0%
Preo

25.0%

Inv estimento
Custo Var.

20.0%

Custo Fixo

TIR
15.0%

Valor
Residual

10.0%

Capital de
Giro
IR/CS

5.0%
0.0%
-10%

0%

10%

% Base

Variao
-10%
0%
10%

Investimen
Custo Var.
to
1.86%
23.13%
26.92%
18.21%
18.21%
18.21%
32.49%
14.60%
8.80%

Preo

Elaborado p/ Prof. Breno de Campos

Custo
Valor Capital de
Fixo
Residual
Giro
19.70% 18.16% 18.61%
18.21% 18.21% 18.21%
16.70% 18.26% 17.83%

IR/CS
19.62%
18.21%
16.79%

Breno de Campos

Preo
Inv estimento
Custo Var.
Custo Fixo
Valor
Residual
Capital de
Giro
IR/CS

10%

INDICADORES DO PROJETO DE INVESTIMENTO


Projeto

Projeto X

Descrio

Aquisio de Novas Mquinas para Expanso da Produo

Investimento

100,000

Vida til (anos)

Capital de Giro

10

TMA (aa)

10,000 Valor Residual


12.00%

Indicadores de Desempenho
VPL

31,874

OK

PayBack (anos)

4.70 IB/C

TIR

18.21%

OK

PayBack Desc.(anos)

7.34 SUL

Exposio Mx.

-110,000

Clculo dos Indicadores

TMA
VPL
TIR
PayBack
0 (110,000)
1 23,400
2 23,400
3 23,400
4 23,400
5 23,400
6 23,400
7 23,400
8 23,400
9 23,400
10 53,400

(110,000)
(86,600)
(63,200)
(39,800)
(16,400)
7,000
30,400
53,800
77,200
100,600
154,000

12.00% IB/C
31,874 SUL
18.21%
4.70 PayBack D
4.70
-

1.29
5,641.27
7.34

(110,000) (110,000)
20,893
(89,107)
18,654
(70,453)
16,656
(53,797)
14,871
(38,926)
13,278
(25,648)
11,855
(13,793)
10,585
(3,208)
9,451
6,243
8,438
14,681
17,193
31,874

4.70
(110,000)

Breno de Campos

oduo
Valor Residual

20,000

1.29

OK

5,641.27

OK

7.34
-

7.34

FUNO XVPL
Taxa ao ano

Taxa equiv. ao dia (365)

12.00000%

0.03105378%

Ref

Valores

Data

Dias

0
1

0.00
4,000.00

10/4/2015
10/14/2015

10

3,987.5996789

4,000.00

11/7/2015

34

3,957.9955246

XVPL :

7,945.595203

Valor Presente

Soma :

7,945.595203

VPL :
0.03105378%

7,945.595203

=XVPL(Taxa, Valores;Datas)

Data
0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34

10/4/2015
10/5/2015
10/6/2015
10/7/2015
10/8/2015
10/9/2015
10/10/2015
10/11/2015
10/12/2015
10/13/2015
10/14/2015
10/15/2015
10/16/2015
10/17/2015
10/18/2015
10/19/2015
10/20/2015
10/21/2015
10/22/2015
10/23/2015
10/24/2015
10/25/2015
10/26/2015
10/27/2015
10/28/2015
10/29/2015
10/30/2015
10/31/2015
11/1/2015
11/2/2015
11/3/2015
11/4/2015
11/5/2015
11/6/2015
11/7/2015

Valores
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
4,000.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
4,000.00

Elaborado p/ Prof. Breno de Campos

Breno de Campos

288696880.xlsx / XVPL

Funo XTIR
Ref
0

Fluxo
(10,000.00)

Datas
10/4/2015

Dias (*)
0

4,000.00

10/14/2015

10

6,100.00

11/7/2015

34

XTIR :

16.00226% aa

=XTIR(Valores;Datas;Estimativa)
=XTIR( C4:C6;D4:D6;10%)

0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34

Data
10/4/2015
10/5/2015
10/6/2015
10/7/2015
10/8/2015
10/9/2015
10/10/2015
10/11/2015
10/12/2015
10/13/2015
10/14/2015
10/15/2015
10/16/2015
10/17/2015
10/18/2015
10/19/2015
10/20/2015
10/21/2015
10/22/2015
10/23/2015
10/24/2015
10/25/2015
10/26/2015
10/27/2015
10/28/2015
10/29/2015
10/30/2015
10/31/2015
11/1/2015
11/2/2015
11/3/2015
11/4/2015
11/5/2015
11/6/2015
11/7/2015

(*) Ano de 365 dias

Valores
(10,000.00)
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
4,000.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
6,100.00
288696880.xlsx / XTIR

66

TIR (% ao dia)
0.040677%
Equiv. ao ano
(365 dias)
16.00226%

COMPARAO ENTRE FLUXOS DE CAIXA ANUAIS, MENSAIS E ANUAIS EM MEIO


PERODO
Fluxo de
Caixa
Mensal
Fim de
Perodo

Fluxo de
Caixa Anual
Fim de
Perodo
Ano 0
Ano 1
Ano 2
Ano 3
Ano 4
Ano 5
VPL (FP)

TAXA

-1,000.00
1,200.00
1,200.00
1,200.00
1,200.00
1,200.00
3,325.73
-6.55%
12.00%

FP : Fim de perodo
MP : Meio de perodo

Ms 0
Ms 1
Ms 2
Ms 3
Ms 4
Ms 5
Ms 6
Ms 7
Ms 8
Ms 9
Ms 10
Ms 11
Ms 12
Ms 13
Ms 14
Ms 15
Ms 16
Ms 17
Ms 18
Ms 19
Ms 20
Ms 21
Ms 22
Ms 23
Ms 24
Ms 25
Ms 26
Ms 27
Ms 28
Ms 29
Ms 30
Ms 31
Ms 32
Ms 33
Ms 34
Ms 35

-1,000.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00

Fluxo de
Caixa Anual
em Meio de
Perodo
Ano 0
Ano 1
Ano 2
Ano 3
Ano 4
Ano 5
VPL
VPL (FP)
VPL (MP)
0.9489%

-1,000.00
1,200.00
1,200.00
1,200.00
1,200.00
1,200.00
3,577.92
-0.07%
3,558.78
3,580.36

31/12/12
30/06/13
30/06/14
30/06/15
30/06/16
30/06/17
XVPL

Ms 36
Ms 37
Ms 38
Ms 39
Ms 40
Ms 41
Ms 42
Ms 43
Ms 44
Ms 45
Ms 46
Ms 47
Ms 48
Ms 49
Ms 50
Ms 51
Ms 52
Ms 53
Ms 54
Ms 55
Ms 56
Ms 57
Ms 58
Ms 59
Ms 60

100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00

Elaborado p/ Prof. Breno de Campos

Breno de Campos

E ANUAIS EM MEIO DE
Datas para o
clculo do VPL
pela funo
XVPL Meio de
Perodo
-1,000.00
1,200.00
1,200.00
1,200.00
1,200.00
1,200.00
3,579.58
-0.02%
Muito prximos

PADARIA DA ESQUINA

VALOR DA EMPRESA
Fluxo de Caixa Livre Anual

120,000

Vida til ( anos)


432573

10

20

200

12.0%

Taxa de Desconto
(% aa)

15.0%
18.0%
20.0%

Clculos para a gerao da Tabela


Valor Presente
432,573 Vida til
Taxa

5
12.00%

Perpetuidade

Elaborado p/ Prof. Breno de Campos

Breno de Campos

Perpetuidade

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