tc =

P2=

CRECIMIENTO DE POBLACION
AOS POBLACION CRECIMIENTO
2000
50000
2001
50800
0.0160
2002
48000
-0.0551
2003
51000
0.0625
2004
51700
0.0137
2005
52300
0.0116
2006
52650
0.0067
2007
53000
0.0066
2008
53250
0.0047
2009
54000
0.0141
2010
54200
0.0037
promedio
0.0085
2011
2012
2013
2014
2015

54658.3034
55120.4821
55586.5689
56056.5968
56530.5992

proyecccion
Demanda
2013
58000
2014
59178
2015 60379.9256
2016 61606.2627
2017 62857.5071
2018 64134.1648
2019 65436.7518

(P1-Po)/Po
P1*(1+tc)

0.0203

Proyeccion oferta

tc =
P1=

(P1-Po)/Po
P2/(1+tc)

2013
2012
2011
2010
2009
2008

Proyeccion oferta
2013
11952
2014
12319 0.03070616
2015 12697.2692
2016 13087.1535
2017 13489.0097
2018 13903.2054
2019 14330.1194

Proyeccion oferta historica

11785
11952 0.01417056
11785
11620.3334
11457.9676
11297.8705
11140.0104

Proyeccion demanda historica

250000
2013
290000
0.16
2012
250000
2011 215517.241
2010 185790.725
2009 160164.418
2008 138072.774

11785
11952 0.01417056
11785
11620.3334
11457.9676
11297.8705
11140.0104
10984.356
10830.8764

AO
2005
2006
2007
2008
2009
2010

2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025

POBLACION CRECIMIENTO
500
538
0.076
590 0.09665428
630 0.06779661
610 -0.03174603
650 0.06557377
PROMEDIO
0.05485572
685.656221
723.26839
762.943802
804.795637
848.943285
895.512684
944.636682
996.455412
1051.1167
1108.77646
1169.5992
1233.75841
1301.43712
1372.8284
1448.1359

1 CALCULAR LA TASA DE CR
2 CALCULAR LA TASA DE CR
3 PROYECTAR LA POBLACION

1448.1359

tc =
P2=

ALCULAR LA TASA DE CRECIMIENTO INTERANUAL

ALCULAR LA TASA DE CRECIMIENTO PROMEDIO
ROYECTAR LA POBLACION INTERANUALMENTE Y PARA EL 2025

Calculo de poblacion a partir de dos datos

1
500
0.076
2
538
538
3
578.888
4
622.883488
5
670.222633
6
721.159553
7
775.967679
8
834.941223
9
898.396756
10
966.674909

(P1-Po)/Po
P1*(1+tc)

1
2
3
4
5
6
7
8
9
10

500
538
578.888
622.883488
670.222633
721.159553
775.967679
834.941223
898.396756
966.674909

0.076

PRESTAMO
TASA
VENCIMIENTO

10000
1.40%
24 MESES

EL PRESTAMO SE AMORTIZA EN CUOTAS CONSTANTES

1 CALCULAR EL VALOR DE LA CUOTA
CUOTA

S/. 493.46 (INTERES + AMORTIZACION)

1
2
3
PERIODO
SALDO INICIACUOTA
INTERES
AMORTIZACIONSALDO FINAL
1 10000.000
493.460
140.000
353.460
9646.540
2
9646.540
493.460
135.052
358.408
9288.132
3
9288.132
493.460
130.034
363.426
8924.705
4
8924.705
493.460
124.946
368.514
8556.191
5
8556.191
493.460
119.787
373.673
8182.518
6
8182.518
493.460
114.555
378.905
7803.613
7
7803.613
493.460
109.251
384.209
7419.404
8
7419.404
493.460
103.872
389.588
7029.815
9
7029.815
493.460
98.417
395.043
6634.773
10
6634.773
493.460
92.887
400.573
6234.200
11
6234.200
493.460
87.279
406.181
5828.018
12
5828.018
493.460
81.592
411.868
5416.151
13
5416.151
493.460
75.826
417.634
4998.517
14
4998.517
493.460
69.979
423.481
4575.036
15
4575.036
493.460
64.051
429.409
4145.627
16
4145.627
493.460
58.039
435.421
3710.205
17
3710.205
493.460
51.943
441.517
3268.688
18
3268.688
493.460
45.762
447.698
2820.990
19
2820.990
493.460
39.494
453.966
2367.024
20
2367.024
493.460
33.138
460.322
1906.702
21
1906.702
493.460
26.694
466.766
1439.936
22
1439.936
493.460
20.159
473.301
966.635
23
966.635
493.460
13.533
479.927
486.708
24
486.708
493.460
6.814
486.646
0.062
11843.040
1843.102
9999.938
1.40%

12

16.80% TASA NOMINAL

18.16% TASA EFECTIVA
18.43% COSTE FINANCIERO

DO FINAL

A NOMINAL
A EFECTIVA
STE FINANCIERO

PRESTAMO
TASA
VENCIMIENTO

18500
1.50%
36 MESES

EL PRESTAMO SE AMORTIZA EN CUOTAS CONSTANTES

1 CALCULAR EL VALOR DE LA CUOTA, PREPARAR EL SERVICIO
CUOTA

S/. 668.82 (INTERES + AMORTIZACION)

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

SALDO INICIACUOTA
18500.000
668.820
18108.680
668.820
17711.490
668.820
17308.343
668.820
16899.148
668.820
16483.815
668.820
16062.252
668.820
15634.366
668.820
15200.061
668.820
14759.242
668.820
14311.811
668.820
13857.668
668.820
13396.713
668.820
12928.844
668.820
12453.956
668.820
11971.946
668.820
11482.705
668.820
10986.126
668.820
10482.097
668.820
9970.509
668.820
9451.247
668.820
8924.195
668.820
8389.238
668.820
7846.257
668.820
7295.131
668.820
6735.738
668.820
6167.954
668.820
5591.653
668.820
5006.708
668.820
4412.988
668.820
3810.363
668.820
3198.699
668.820
2577.859
668.820
1947.707
668.820
1308.103
668.820

36

658.904

668.820
24077.520
1.50%

PRESTAMO
TASA
VENCIMIENTO

750
1.40%
5

Ejercicios:
Se tiene un prstamo de 750 soles a una tasa d

N CUOTAS CONSTANTES
CUOTA, PREPARAR EL SERVICIO DE LA DEUDA

se pide calcular la a

ERES + AMORTIZACION)

S/. 668.82

INTERES
AMORTIZACIOSALDO FINAL
277.500
391.320 18108.680
271.630
397.190 17711.490
265.672
403.148 17308.343
259.625
409.195 16899.148
253.487
415.333 16483.815
247.257
421.563 16062.252
240.934
427.886 15634.366
234.515
434.305 15200.061
228.001
440.819 14759.242
221.389
447.431 14311.811
214.677
454.143 13857.668
207.865
460.955 13396.713
200.951
467.869 12928.844
193.933
474.887 12453.956
186.809
482.011 11971.946
179.579
489.241 11482.705
172.241
496.579 10986.126
164.792
504.028 10482.097
157.231
511.589
9970.509
149.558
519.262
9451.247
141.769
527.051
8924.195
133.863
534.957
8389.238
125.839
542.981
7846.257
117.694
551.126
7295.131
109.427
559.393
6735.738
101.036
567.784
6167.954
92.519
576.301
5591.653
83.875
584.945
5006.708
75.101
593.719
4412.988
66.195
602.625
3810.363
57.155
611.665
3198.699
47.980
620.840
2577.859
38.668
630.152
1947.707
29.216
639.604
1308.103
19.622
649.198
658.904

CUOTA

S/. 156.36

PERIODO
1
2
3
4
5

prestamo
tasa

SALDO INICIA
750.000
604.142
456.846
307.340
155.593

PRESTAMO CUOTAS CONSTANTE

80000
1.45%

vencimiento

saldo inic
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21

24

cuota

80000 S/. 3,970.77

77189.226
3970.77
74337.700
3970.77
71444.826
3970.77
68510.006
3970.77
65532.631
3970.77
62512.084
3970.77
59447.740
3970.77
56338.962
3970.77
53185.107
3970.77
49985.521
3970.77
46739.541
3970.77
43446.494
3970.77
40105.698
3970.77
36716.461
3970.77
33278.080
3970.77
29789.842
3970.77
26251.025
3970.77
22660.894
3970.77
19018.707
3970.77
15323.709
3970.77

9.884
5577.488
12

658.936
18500.032

-0.032

18.00% TASA NOMINAL

19.56% TASA EFECTIVA
30.15% COSTE FINANCIERO

22
23
24

11575.132
7772.202
3914.129
ANUAL

3970.77
3970.77
3970.77

meses

amo de 750 soles a una tasa de 1.40 mensual, para un perodo de 5 meses
se pide calcular la amortizacion y el total devuelto por el prestamo

(INTERES + AMORTIZACION)
CUOTA
INTERES
AMORTIZACIOSALDO FINAL
156.358
10.500
145.858
604.142
156.358
9.062
147.296
456.846
156.358
6.853
149.505
307.340
156.358
4.610
151.748
155.593
156.358
2.334
154.024
1.568
781.790
33.359
748.432
CUOTA=
INTERES=
AMORTIZ=
SALDO FIN=

PRESTAMO CUOTAS CONSTANTES

cuota

interes
1160.000
1119.244
1077.897
1035.950
993.395
950.223
906.425
861.992
816.915
771.184
724.790
677.723
629.974
581.533
532.389
482.532
431.953
380.640
328.583
275.771
222.194

amortiz
2810.774
2851.526
2892.873
2934.820
2977.375
3020.547
3064.345
3108.778
3153.855
3199.586
3245.980
3293.047
3340.796
3389.237
3438.381
3488.238
3538.817
3590.130
3642.187
3694.999
3748.576

(interes;venc;-prestamo)
prestamo*$interes$
cuota-interes
saldo inic-amortz

S/. 3,970.77
saldo final
77189.226
74337.700
71444.826
68510.006
65532.631
62512.084
59447.740
56338.962
53185.107
49985.521
46739.541
43446.494
40105.698
36716.461
33278.080
29789.842
26251.025
22660.894
19018.707
15323.709
11575.132

saldo inic
cuota
1
80000 S/. 3,970.77
2
77189.23 S/. 3,970.77
3
74337.70 S/. 3,970.77
4
71444.83 S/. 3,970.77
5
68510.01 S/. 3,970.77
6
65532.63 S/. 3,970.77
7
62512.08 S/. 3,970.77
8
59447.74 S/. 3,970.77
9
56338.96 S/. 3,970.77
10
53185.11 S/. 3,970.77
11
49985.52 S/. 3,970.77
12
46739.54 S/. 3,970.77
13
43446.49 S/. 3,970.77
14
40105.70 S/. 3,970.77
15
36716.46 S/. 3,970.77
16
33278.08 S/. 3,970.77
17
29789.84 S/. 3,970.77
18
26251.02 S/. 3,970.77
19
22660.89 S/. 3,970.77
20
19018.71 S/. 3,970.77
21
15323.71 S/. 3,970.77

167.839
112.697
56.755

3802.931
3858.073
3914.015

7772.202
3914.129
0.114

22
23
24

11575.13 S/. 3,970.77

7772.20 S/. 3,970.77
3914.13 S/. 3,970.77

eres;venc;-prestamo)
stamo*$interes$
ta-interes
o inic-amortz

interes

f=PAGO

amortiz
saldo final
1160
2810.77
77189.23
1119.24377
2851.53
74337.70
1077.89664
2892.87
71444.83
1035.94998
2934.82
68510.01
993.39509
2977.37
65532.63
950.223154
3020.55
62512.08
906.425224
3064.34
59447.74
861.992225
3108.78
56338.96
816.914947
3153.86
53185.11
771.184049
3199.59
49985.52
724.790053
3245.98
46739.54
677.723344
3293.05
43446.49
629.974167
3340.80
40105.70
581.532628
3389.24
36716.46
532.388686
3438.38
33278.08
482.532157
3488.24
29789.84
431.952708
3538.82
26251.02
380.639857
3590.13
22660.89
328.58297
3642.19
19018.71
275.771258
3695.00
15323.71
222.193776
3748.58
11575.13

167.839421
112.696928
56.7548682

3802.93
3858.07
3914.02

7772.20
3914.13
0.11

1830
FACTOR DE PRORATEO
0.0005
0.0011
0.0016
0.0022
0.0027
0.0033
0.0038
0.0044
0.0049
0.0055
0.0060
0.0066
0.0071
0.0077
0.0082
0.0087
0.0093
0.0098
0.0104
0.0109
0.0115
0.0120
0.0126
0.0131
0.0137
0.0142
0.0148
0.0153
0.0158
0.0164
0.0169
0.0175
0.0180
0.0186
0.0191
0.0197

PRESTAMO
TASA
VENCIMIENTO

18500
1.50%
36 MESES
3

PERIODO

ANUAL

SALDO INICIACUOTA
INTERES
1
18500.00
2768.25
268.25
2
16000.00
2732.00
232.00
3
13500.00
2695.75
195.75
4
11000.00
2659.50
159.50
5
8500.00
2623.25
123.25
6
6000.00
2587.00
87.00
7
3500.00
2550.75
50.75
8
1000.00
2514.50
14.50
9
-1500.00
2478.25
-21.75
10
-4000.00
2442.00
-58.00
11
-6500.00
2405.75
-94.25
12
-9000.00
2369.50
-130.50
13
-11500.00
2333.25
-166.75
14
-14000.00
2297.00
-203.00
15
-16500.00
2260.75
-239.25
16
-19000.00
2224.50
-275.50
17
-21500.00
2188.25
-311.75
18
-24000.00
2152.00
-348.00
19
-26500.00
2115.75
-384.25
20
-29000.00
2079.50
-420.50
21
-31500.00
2043.25
-456.75
22
-34000.00
2007.00
-493.00
23
-36500.00
1970.75
-529.25
24
-39000.00
1934.50
-565.50
25
-41500.00
1898.25
-601.75
26
-44000.00
1862.00
-638.00
27
-46500.00
1825.75
-674.25
28
-49000.00
1789.50
-710.50
29
-51500.00
1753.25
-746.75
30
-54000.00
1717.00
-783.00
31
-56500.00
1680.75
-819.25
32
-59000.00
1644.50
-855.50
33
-61500.00
1608.25
-891.75
34
-64000.00
1572.00
-928.00
35
-66500.00
1535.75
-964.25
36
-69000.00
1499.50
-1000.50

1
AMORTIZACIOSALDO FINAL
2500.00
16000.00
2500.00
13500.00
2500.00
11000.00
2500.00
8500.00
2500.00
6000.00
2500.00
3500.00
2500.00
1000.00
2500.00
-1500.00
2500.00
-4000.00
2500.00
-6500.00
2500.00
-9000.00
2500.00
-11500.00
2500.00
-14000.00
2500.00
-16500.00
2500.00
-19000.00
2500.00
-21500.00
2500.00
-24000.00
2500.00
-26500.00
2500.00
-29000.00
2500.00
-31500.00
2500.00
-34000.00
2500.00
-36500.00
2500.00
-39000.00
2500.00
-41500.00
2500.00
-44000.00
2500.00
-46500.00
2500.00
-49000.00
2500.00
-51500.00
2500.00
-54000.00
2500.00
-56500.00
2500.00
-59000.00
2500.00
-61500.00
2500.00
-64000.00
2500.00
-66500.00
2500.00
-69000.00
2500.00
-71500.00

PRESTAMO
TASA
VENCIMIENTO
666
FACTOR DE P PERIODO
0.0005
0.0011
0.0016
0.0022
0.0027
0.0033
0.0038
0.0044
0.0049
0.0055
0.0060
0.0066
0.0071
0.0077
0.0082
0.0087
0.0093
0.0098
0.0104
0.0109
0.0115
0.0120
0.0126
0.0131
0.0137
0.0142
0.0148
0.0153
0.0158
0.0164
0.0169
0.0175
0.0180
0.0186
0.0191
0.0197

18500
1.50%
36 MESES
3

1
SALDO INICIACUOTA
INTERES
AMORTIZACIO
1
18500.00
287.61
277.50
10.11
2
18489.89
297.57
277.35
20.22
3
18469.67
307.37
277.05
30.33
4
18439.34
317.03
276.59
40.44
5
18398.91
326.53
275.98
50.55
6
18348.36
335.88
275.23
60.66
7
18287.70
345.08
274.32
70.77
8
18216.94
354.13
273.25
80.87
9
18136.07
363.02
272.04
90.98
10
18045.08
371.77
270.68
101.09
11
17943.99
380.36
269.16
111.20
12
17832.79
388.80
267.49
121.31
13
17711.48
397.09
265.67
131.42
14
17580.05
405.23
263.70
141.53
15
17438.52
413.22
261.58
151.64
16
17286.89
421.05
259.30
161.75
17
17125.14
428.73
256.88
171.86
18
16953.28
436.27
254.30
181.97
19
16771.31
443.65
251.57
192.08
20
16579.23
450.87
248.69
202.19
21
16377.05
457.95
245.66
212.30
22
16164.75
464.88
242.47
222.40
23
15942.35
471.65
239.14
232.51
24
15709.84
478.27
235.65
242.62
25
15467.21
484.74
232.01
252.73
26
15214.48
491.06
228.22
262.84
27
14951.64
497.23
224.27
272.95
28
14678.69
503.24
220.18
283.06
29
14395.63
509.10
215.93
293.17
30
14102.46
514.82
211.54
303.28
31
13799.18
520.38
206.99
313.39
32
13485.79
525.78
202.29
323.50
33
13162.30
531.04
197.43
333.61
34
12828.69
536.15
192.43
343.72
35
12484.97
541.10
187.27
353.83
36
12131.15
545.90
181.97
363.93
15544.55
8811.76
6732.79

SALDO FINAL
18489.89
18469.67
18439.34
18398.91
18348.36
18287.70
18216.94
18136.07
18045.08
17943.99
17832.79
17711.48
17580.05
17438.52
17286.89
17125.14
16953.28
16771.31
16579.23
16377.05
16164.75
15942.35
15709.84
15467.21
15214.48
14951.64
14678.69
14395.63
14102.46
13799.18
13485.79
13162.30
12828.69
12484.97
12131.15
11767.21

con los siguientes datos elaborar el servicio de la deuda

con cuotas constantes crecientes y decrecientes
evaluar el coste efectivo y real de cada opcion
PRESTAMO
TASA
VENCIMIENTO

CUOTA
PERIODO

150000
1.45%
60 MESES

S/. 3,760.22 (INTERES + AMORTIZACION)

S/. 3,760.22

SALDO INICIACUOTA
INTERES
AMORTIZACIOSALDO FINAL
1 150000.000
3760.22
2175.000
1585.220 148414.780
2 148414.780
3760.22
2152.014
1608.206 146806.574
3 146806.574
3760.22
2128.695
1631.525 145175.050
4 145175.050
3760.22
2105.038
1655.182 143519.868
5 143519.868
3760.22
2081.038
1679.182 141840.686
6 141840.686
3760.22
2056.690
1703.530 140137.156
7 140137.156
3760.22
2031.989
1728.231 138408.925
8 138408.925
3760.22
2006.929
1753.291 136655.634
9 136655.634
3760.22
1981.507
1778.713 134876.921
10 134876.921
3760.22
1955.715
1804.505 133072.416
11 133072.416
3760.22
1929.550
1830.670 131241.746
12 131241.746
3760.22
1903.005
1857.215 129384.531
13 129384.531
3760.22
1876.076
1884.144 127500.387
14 127500.387
3760.22
1848.756
1911.464 125588.923
15 125588.923
3760.22
1821.039
1939.181 123649.742
16 123649.742
3760.22
1792.921
1967.299 121682.443
17 121682.443
3760.22
1764.395
1995.825 119686.619
18 119686.619
3760.22
1735.456
2024.764 117661.855
19 117661.855
3760.22
1706.097
2054.123 115607.732
20 115607.732
3760.22
1676.312
2083.908 113523.824
21 113523.824
3760.22
1646.095
2114.125 111409.699
22 111409.699
3760.22
1615.441
2144.779 109264.920
23 109264.920
3760.22
1584.341
2175.879 107089.041
24 107089.041
3760.22
1552.791
2207.429 104881.612
25 104881.612
3760.22
1520.783
2239.437 102642.176
26 102642.176
3760.22
1488.312
2271.908 100370.267
27 100370.267
3760.22
1455.369
2304.851 98065.416
28 98065.416
3760.22
1421.949
2338.271 95727.145
29 95727.145
3760.22
1388.044
2372.176 93354.968
30 93354.968
3760.22
1353.647
2406.573 90948.395
31 90948.395
3760.22
1318.752
2441.468 88506.927
32 88506.927
3760.22
1283.350
2476.870 86030.057
33 86030.057
3760.22
1247.436
2512.784 83517.273

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

PRESTAMO
TASA
VENCIMIENTO

83517.273
80968.054
78381.871
75758.188
73096.461
70396.140
67656.664
64877.466
62057.969
59197.590
56295.735
53351.803
50365.184
47335.259
44261.400
41142.971
37979.324
34769.804
31513.746
28210.475
24859.307
21459.547
18010.491
14511.423
10961.618
7360.342
3706.847

3760.22
3760.22
3760.22
3760.22
3760.22
3760.22
3760.22
3760.22
3760.22
3760.22
3760.22
3760.22
3760.22
3760.22
3760.22
3760.22
3760.22
3760.22
3760.22
3760.22
3760.22
3760.22
3760.22
3760.22
3760.22
3760.22
3760.22
225613.20

1.45%

12

2549.220
2586.183
2623.683
2661.726
2700.321
2739.476
2779.198
2819.497
2860.379
2901.855
2943.932
2986.619
3029.925
3073.859
3118.430
3163.647
3209.520
3256.058
3303.271
3351.168
3399.760
3449.057
3499.068
3549.804
3601.277
3653.495
3706.471
149999.62

80968.054
78381.871
75758.188
73096.461
70396.140
67656.664
64877.466
62057.969
59197.590
56295.735
53351.803
50365.184
47335.259
44261.400
41142.971
37979.324
34769.804
31513.746
28210.475
24859.307
21459.547
18010.491
14511.423
10961.618
7360.342
3706.847
0.376

17.40% TASA NOMINAL

18.86% TASA EFECTIVA
33.51% COSTE FINANCIERO

150000
1.45%
60 MESES
3

PERIODO

1211.000
1174.037
1136.537
1098.494
1059.899
1020.744
981.022
940.723
899.841
858.365
816.288
773.601
730.295
686.361
641.790
596.573
550.700
504.162
456.949
409.052
360.460
311.163
261.152
210.416
158.943
106.725
53.749
75613.58

1
SALDO INICIACUOTA
INTERES
AMORTIZACIOSALDO FINAL
1 150000.00
4675.00
2175.00
2500.00 147500.00
2 147500.00
4638.75
2138.75
2500.00 145000.00
3 145000.00
4602.50
2102.50
2500.00 142500.00
4 142500.00
4566.25
2066.25
2500.00 140000.00
5 140000.00
4530.00
2030.00
2500.00 137500.00
6 137500.00
4493.75
1993.75
2500.00 135000.00
7 135000.00
4457.50
1957.50
2500.00 132500.00

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
49
50
51
52

132500.00
130000.00
127500.00
125000.00
122500.00
120000.00
117500.00
115000.00
112500.00
110000.00
107500.00
105000.00
102500.00
100000.00
97500.00
95000.00
92500.00
90000.00
87500.00
85000.00
82500.00
80000.00
77500.00
75000.00
72500.00
70000.00
67500.00
65000.00
62500.00
60000.00
57500.00
55000.00
52500.00
50000.00
47500.00
45000.00
42500.00
40000.00
37500.00
35000.00
32500.00
30000.00
27500.00
25000.00
22500.00

4421.25
4385.00
4348.75
4312.50
4276.25
4240.00
4203.75
4167.50
4131.25
4095.00
4058.75
4022.50
3986.25
3950.00
3913.75
3877.50
3841.25
3805.00
3768.75
3732.50
3696.25
3660.00
3623.75
3587.50
3551.25
3515.00
3478.75
3442.50
3406.25
3370.00
3333.75
3297.50
3261.25
3225.00
3188.75
3152.50
3116.25
3080.00
3043.75
3007.50
2971.25
2935.00
2898.75
2862.50
2826.25

1921.25
1885.00
1848.75
1812.50
1776.25
1740.00
1703.75
1667.50
1631.25
1595.00
1558.75
1522.50
1486.25
1450.00
1413.75
1377.50
1341.25
1305.00
1268.75
1232.50
1196.25
1160.00
1123.75
1087.50
1051.25
1015.00
978.75
942.50
906.25
870.00
833.75
797.50
761.25
725.00
688.75
652.50
616.25
580.00
543.75
507.50
471.25
435.00
398.75
362.50
326.25

2500.00
2500.00
2500.00
2500.00
2500.00
2500.00
2500.00
2500.00
2500.00
2500.00
2500.00
2500.00
2500.00
2500.00
2500.00
2500.00
2500.00
2500.00
2500.00
2500.00
2500.00
2500.00
2500.00
2500.00
2500.00
2500.00
2500.00
2500.00
2500.00
2500.00
2500.00
2500.00
2500.00
2500.00
2500.00
2500.00
2500.00
2500.00
2500.00
2500.00
2500.00
2500.00
2500.00
2500.00
2500.00

130000.00
127500.00
125000.00
122500.00
120000.00
117500.00
115000.00
112500.00
110000.00
107500.00
105000.00
102500.00
100000.00
97500.00
95000.00
92500.00
90000.00
87500.00
85000.00
82500.00
80000.00
77500.00
75000.00
72500.00
70000.00
67500.00
65000.00
62500.00
60000.00
57500.00
55000.00
52500.00
50000.00
47500.00
45000.00
42500.00
40000.00
37500.00
35000.00
32500.00
30000.00
27500.00
25000.00
22500.00
20000.00

53
54
55
56
57
58
59
60

20000.00
17500.00
15000.00
12500.00
10000.00
7500.00
5000.00
2500.00

PRESTAMO
TASA
VENCIMIENTO
1830
FACTOR DE PRO PERIODO
0.0005
0.0011
0.0016
0.0022
0.0027
0.0033
0.0038
0.0044
0.0049
0.0055
0.0060
0.0066
0.0071
0.0077
0.0082
0.0087
0.0093
0.0098
0.0104
0.0109
0.0115
0.0120
0.0126
0.0131
0.0137
0.0142

2790.00
2753.75
2717.50
2681.25
2645.00
2608.75
2572.50
2536.25
216337.50

290.00
253.75
217.50
181.25
145.00
108.75
72.50
36.25
66337.50

1.45%

12

2500.00
2500.00
2500.00
2500.00
2500.00
2500.00
2500.00
2500.00
150000.00

17500.00
15000.00
12500.00
10000.00
7500.00
5000.00
2500.00
0.00

17.40% TASA NOMINAL

18.86% TASA EFECTIVA
30.66% COSTE FINANCIERO

150000
1.45%
60 MESES

3
2
1
SALDO INICIACUOTA
INTERES
AMORTIZACIO
1 150000.00
2256.97
2175.00
81.97
2 149918.03
2337.66
2173.81
163.84
3 149754.19
2416.93
2171.44
245.50
4 149508.69
2494.67
2167.88
326.79
5 149181.89
2570.74
2163.14
407.60
6 148774.29
2645.01
2157.23
487.78
7 148286.51
2717.37
2150.15
567.22
8 147719.29
2787.70
2141.93
645.77
9 147073.53
2855.88
2132.57
723.31
10 146350.21
2921.81
2122.08
799.73
11 145550.49
2985.38
2110.48
874.89
12 144675.59
3046.49
2097.80
948.69
13 143726.90
3105.05
2084.04
1021.01
14 142705.89
3160.97
2069.24
1091.74
15 141614.15
3214.18
2053.41
1160.77
16 140453.38
3264.58
2036.57
1228.01
17 139225.37
3312.12
2018.77
1293.35
18 137932.02
3356.72
2000.01
1356.71
19 136575.31
3398.34
1980.34
1418.00
20 135157.32
3436.91
1959.78
1477.13
21 133680.19
3472.40
1938.36
1534.03
22 132146.15
3504.76
1916.12
1588.64
23 130557.51
3533.97
1893.08
1640.89
24 128916.62
3560.00
1869.29
1690.71
25 127225.91
3582.83
1844.78
1738.06
26 125487.85
3602.46
1819.57
1782.89

0.0148
0.0153
0.0158
0.0164
0.0169
0.0175
0.0180
0.0186
0.0191
0.0197
0.0202
0.0208
0.0213
0.0219
0.0224
0.0230
0.0235
0.0240
0.0246
0.0251
0.0257
0.0262
0.0268
0.0273
0.0279
0.0284
0.0290
0.0295
0.0301
0.0306
0.0311
0.0317
0.0322
0.0328

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

123704.97
121879.81
120014.98
118113.11
116176.83
114208.80
112211.71
110188.22
108141.01
106072.74
103986.06
101883.61
99767.99
97641.79
95507.54
93367.76
91224.89
89081.35
86939.51
84801.65
82670.03
80546.81
78434.10
76333.95
74248.33
72179.11
70128.12
68097.09
66087.67
64101.42
62139.85
60204.35
58296.23
56416.73

3618.88
3632.08
3642.09
3648.92
3652.59
3653.12
3650.56
3644.94
3636.32
3624.73
3610.25
3592.93
3572.84
3550.05
3524.65
3496.70
3466.30
3433.53
3398.48
3361.25
3321.93
3280.63
3237.44
3192.47
3145.82
3097.59
3047.89
2996.83
2944.51
2891.04
2836.53
2781.08
2724.79
2667.77
193119.43

1.45%

12

1793.72
1767.26
1740.22
1712.64
1684.56
1656.03
1627.07
1597.73
1568.04
1538.05
1507.80
1477.31
1446.64
1415.81
1384.86
1353.83
1322.76
1291.68
1260.62
1229.62
1198.72
1167.93
1137.29
1106.84
1076.60
1046.60
1016.86
987.41
958.27
929.47
901.03
872.96
845.30
818.04
97686.43

1825.16
1864.83
1901.88
1936.28
1968.02
1997.09
2023.49
2047.21
2068.27
2086.68
2102.45
2115.62
2126.20
2134.25
2139.79
2142.87
2143.54
2141.85
2137.86
2131.63
2123.22
2112.70
2100.15
2085.63
2069.22
2050.99
2031.03
2009.42
1986.24
1961.57
1935.50
1908.12
1879.50
1849.73
95432.99

17.40% TASA NOMINAL

18.86% TASA EFECTIVA
50.58% COSTE FINANCIERO

DO FINAL
0.1

1.45

DO FINAL

A NOMINAL
A EFECTIVA
STE FINANCIERO

SALDO FINAL
149918.03
149754.19
149508.69
149181.89
148774.29
148286.51
147719.29
147073.53
146350.21
145550.49
144675.59
143726.90
142705.89
141614.15
140453.38
139225.37
137932.02
136575.31
135157.32
133680.19
132146.15
130557.51
128916.62
127225.91
125487.85
123704.97

121879.81
120014.98
118113.11
116176.83
114208.80
112211.71
110188.22
108141.01
106072.74
103986.06
101883.61
99767.99
97641.79
95507.54
93367.76
91224.89
89081.35
86939.51
84801.65
82670.03
80546.81
78434.10
76333.95
74248.33
72179.11
70128.12
68097.09
66087.67
64101.42
62139.85
60204.35
58296.23
56416.73
54567.01

A NOMINAL
A EFECTIVA
STE FINANCIERO

valor de mercado
valor residual
vida util

periodo

120000
3600 3% valor de mercado
10
40000
estado perdida balance general
cuadro de depreciacion de activos fijos
bvalor inicial depreciacion andep acumulado
valor final
1
120000 S/. 11,640.00
11640.00 S/. 108,360.00
2
108360 S/. 11,640.00
23280.00
S/. 96,720.00
3
96720 S/. 11,640.00
S/. 34,920.00
S/. 85,080.00
4
85080 S/. 11,640.00
S/. 46,560.00
S/. 73,440.00
5
73440 S/. 11,640.00
S/. 58,200.00
S/. 61,800.00
6
61800 S/. 11,640.00
S/. 69,840.00
S/. 50,160.00
7
50160 S/. 11,640.00
S/. 81,480.00
S/. 38,520.00
8
38520 S/. 11,640.00
S/. 93,120.00
S/. 26,880.00
9
26880 S/. 11,640.00
S/. 104,760.00
S/. 15,240.00
10
15240 S/. 11,640.00
S/. 116,400.00
S/. 3,600.00

valor de mercado
valor residual
vida util
periodo

1850000
92500.00
30 aos

5% valor de mercado

bvalor inicial depreciacion andep acumula valor final

1
1850000 S/. 58,583.33
11640.00
S/. 1,791,416.67
2 1791416.67 S/. 58,583.33
70223.33
S/. 1,732,833.33
3 1732833.33 S/. 58,583.33 128806.67
S/. 1,674,250.00
4
1674250 S/. 58,583.33 187390.00
S/. 1,615,666.67
5 1615666.67 S/. 58,583.33 245973.33
S/. 1,557,083.33
6 1557083.33 S/. 58,583.33 304556.67
S/. 1,498,500.00
7
1498500 S/. 58,583.33 363140.00
S/. 1,439,916.67
8 1439916.67 S/. 58,583.33 421723.33
S/. 1,381,333.33
9 1381333.33 S/. 58,583.33 480306.67
S/. 1,322,750.00
10
1322750 S/. 58,583.33 538890.00
S/. 1,264,166.67
11 1264166.67 S/. 58,583.33 597473.33
S/. 1,205,583.33
12 1205583.33 S/. 58,583.33 656056.67
S/. 1,147,000.00
13
1147000 S/. 58,583.33 714640.00
S/. 1,088,416.67
14 1088416.67 S/. 58,583.33 773223.33
S/. 1,029,833.33
15 1029833.33 S/. 58,583.33 831806.67
S/. 971,250.00
16
971250 S/. 58,583.33 890390.00
S/. 912,666.67
17 912666.667 S/. 58,583.33 948973.33
S/. 854,083.33
18 854083.333 S/. 58,583.33 1007556.67
S/. 795,500.00
19
795500 S/. 58,583.33 1066140.00
S/. 736,916.67
20 736916.667 S/. 58,583.33 1124723.33
S/. 678,333.33
21 678333.333 S/. 58,583.33 1183306.67
S/. 619,750.00
22
619750 S/. 58,583.33 1241890.00
S/. 561,166.67
23 561166.667 S/. 58,583.33 1300473.33
S/. 502,583.33
24 502583.333 S/. 58,583.33 1359056.67
S/. 444,000.00
25
444000 S/. 58,583.33 1417640.00
S/. 385,416.67
26 385416.667 S/. 58,583.33 1476223.33
S/. 326,833.33
27 326833.333 S/. 58,583.33 1534806.67
S/. 268,250.00
28
268250 S/. 58,583.33 1593390.00
S/. 209,666.67
29 209666.667 S/. 58,583.33 1651973.33
S/. 151,083.33
30 151083.333 S/. 58,583.33 1710556.67
S/. 92,500.00

CALCULO DE COSTO PROMEDIO PONDERADO

FUENTES DE FINANCIAMIENTO
COSTE
CAPITAL PROPIO
DEUDA BANCARIA
EMISION DE BONOS (ACCIONES)

CAPM
CAPITAL ASSETS PRICING MODEL
AOS

Rr
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010

Err:509

FUENTES DE FINANCIAMIENTO
CAPITAL PROPIO
DEUDA
EMISION DE BONOS
INVERSION

COSTE
10%
60%
30%
1,950,000.00

195,000.00
1,170,000.00
585,000.00

8%
7.80%
8.30%
8.25%
5%
4.50%
7.20%
7.60%
8.10%
8.20%
8%

Rd

RF
B
e(RM)
RC

12%
11.30%
12.50%
10%
6%
6.80%
7.15%
5%
9%
9.50%
10%

SNIP

RC
RI
RB
RC
RI
RB

0.01
0.36
0.09
0.46

14%

13.40%
18.86%
7.50%
13.40%
18.86%
7.50%

CPPC

RC

5.50%
1.2
12%
13.30

8000.00%

50000
80000
20000
150000

INVERSION
FC1
FC2
FC3
FC4
FC5
VAN

-1950000
1950000
400000
500000
380000
420000
390000
1) VALOR ACTUAL DE LOS FLUJOS DE CAJA
2)SE SUMA LA INVERSION CON RENTABILIDAD
14%
TASA INTERES
TIR

2.40%

-506,672.37 PARA UN PROYECTO PRIVADO NO

LEYES DE MAYKEL
EJERCICIO
INVERSION
-2560000
S/. 1,443,710.58
FC1
150000
FC2
155000
TIR
FC3
160000
FC4
165000
FC5
170000
NO ES RENTABLE EL PROYECTO
FC6
175000
FC7
180000
-1,116,289.41
FC8
185000
FC9
190000
1,443,710.58
FC10
195000
1,116,289.42
FC11
200000
FC12
205000
FC13
210000
FC14
215000
FC15
220000
FC16
225000
FC17
230000
FC18
235000
FC19
240000
FC20
245000
TASA
11%
EVALUAR EL PROYECTO MEDIANTE EL VAN
CALCULAR LA TIR
PARA QUE NIVELES DE TASA EL VAN ES +
PARA Q UE NIVELES DE TASA EL VAN ES -

PROYECTO SIN FINANCIAMIENTO O PURO

4%

PROYECTO CON FINANCIAMIENTO

INVERSION

-11880
6487
9821.4
9821.4
9821.4
9821.4
10%

FC2
FC3
FC4
FC5
TASA INTERES

VAN

TIR

INVERSION
FC1
FC2
FC3
FC4
FC5
TASA INTERES

S/. 34,199.56
S/. 22,319.56
65%

VAN

TIR

S/. -506,672.37
S/. 1,443,327.63
S/. -506,672.37

INVERSION
FC1
FC2
FC3
FC4

TASA INTERES

A UN PROYECTO PRIVADO NO SIRVE

S/. -1,116,289.42

OYECTO CON FINANCIAMIENTO

INVERSION
FC1
FC2
TASA INTERES

INVERSION
FC1
FC2
TASA INTERES

-21880
12578.93
14938.87
16717.16
19072.8
19072.8
10%
S/. 61,211.10
S/. 39,331.10
62%

-20000
9000
9000
9000
9000
TIR
14%

28%
S/. 26,223.41 S/. 6,223.41
6,223.41

ES RENTABLE EL PROYECTO

-2400
1000
2300
8%
VAN

S/. 2,897.81
S/. 497.81

TIR

21%
ES RENTABLE
-6000
3500
4000
10%

VAN
TIR

S/. 6,487.60
S/. 487.60
16%
ES RENTABLE

PROYECTO SIN FINANCIAMIENTO O PURO

INVERSION
FC1
FC2
FC3
FC4
FC5

-11880
6487
9821.4
9821.4
9821.4
9821.4
10%

TASA INTERES

VA
VAN

INVERSION
FC1
FC2
FC3
FC4
FC5
TASA INTERES

S/. 34,199.56
S/. 22,319.56

TIR

PROYECTO CON FINANC

65%

VA
VAN
TIR

PROYECTO CON FINANC

INVERSION
FC1
FC2
FC3
FC4
FC5
TASA INTERES

VA
VAN
TIR

INVERSION
FC1
FC2
FC3
FC4
FC5
TASA INTERES

VA

-11880
6487
9821.4
9821.4
9821.4
9821.4
10%

S/. 34,199.56

VAN
TIR

S/. 22,319.56
65%

OYECTO CON FINANCIAMIENTO

-21880
12578.93
14938.87
16717.16
19072.8
19072.8
10%
S/. 61,211.10
S/. 39,331.10
62%

OYECTO CON FINANCIAMIENTO

-20000
4050
11935
-4775
4143
5985
10%
S/. 16,503.87
S/. -3,496.13
2%

PROYECTO SIN FINANCIAMIENTO O PURO

INVERSION
FC1
FC2
FC3
FC4
FC5

-11880
6487
9821.4
9821.4
9821.4
9821.4
20%

TASA INTERES

VA
VAN
TIR

S/. 26,593.33
S/. 14,713.33
65%

PROYECTO SIN FINANCIAMIENTO O PURO

INVERSION
FC1
FC2
FC3
FC4
FC5
TASA INTERES

VA
VAN
TIR

-20000
4050
11935
-4775
4143
5985
0%
S/. 21,338.00
S/. 1,338.00
2%

NCIAMIENTO O PURO

NCIAMIENTO O PURO

PROYECTO CON FINANCIAMIENTO

INVERSION
FC1
FC2
FC3
FC4
FC5
TASA INTERES

VA
VAN
TIR

-21880
12578.93
14938.87
16717.16
19072.8
19072.8
20%
S/. 47,393.79
S/. 25,513.79
62%

PROYECTO CON FINANCIAMIENTO

INVERSION
FC1
FC2
FC3
FC4
FC5
TASA INTERES

VA
VAN
TIR

-20000
4050
11935
-4775
4143
5985
5%
S/. 18,655.58
S/. -1,344.42
2%

FLUJO DE CAJA NOMINAL

IO
-25000 TASA NOMINA
1 FC1
5000 INFLACION
2 FC2
6000
3 FC3
7500
4 FC4
8300
5 FC5
6000
EVALUAR EL PROYECTO CON Y SIN INFLACION

14%
6%

S/. -2,904.47 VAN CON INFLACION

S/. -2,904.47 VAN SIN INFLACION
FLUJO DE CAJA REALES
IO
1 FC1
2 FC2
3 FC3
4 FC4
5 FC5

-15000 TASA REAL

5000 INFLACION
3800
4200 VAN REAL
3500 VAN NOMINAL
4100

9%
5%
S/. 1,172.92
S/. 1,172.92

FLUJOS REALES
4716.98
5339.98
6297.14
6574.38
4483.55

TASA REAL
0.0755

TERMINOS NOMINALES
5250.0
4189.5
4862.0
4254.3
5232.8

TASA NOMINAL
0.1445

FLUJO DE CAJA NOMINAL

IO
1 FC1
2 FC2
3 FC3
4 FC4
5 FC5
6 FC6
7 FC7
8 FC8
9 FC9
10 FC10
11 FC11
12 FC12
13 FC13
14 FC14
15 FC15
16 FC16
17 FC17
18 FC18
19 FC19
20 FC20
EVALUAR EL PROYECTO CON Y SIN
BIEN
BIEN

S/. -816,497
S/. -816,497

1
2
3
4
5

NOMINAL
-1580000 TASA NOMINA
100000 INFLACION
101500
103000
104500
106000
107500
109000
110500
112000
113500
115000
116500
118000
119500
121000
122500
124000
125500
127000
128500

13% FLUJOS REALES

5%
95693.78
92946.59
90258.55
87629.66
85059.81
82548.79
80096.30
77701.96
75365.30
73085.79
70862.85
68695.84
66584.05
64526.76
62523.17
60572.49
58673.87
56826.45
55029.33
53281.61

TASA REAL
0.0813

ROYECTO CON Y SIN INFLACION

VAN CON INFLACION
VAN SIN INFLACION

FLUJO DE CAJA REALES

TERMINOS NOMINALES
IO
-15000 TASA REAL
9%
5250.0
FC1
5000 INFLACION
5%
4189.5
FC2
3800
4862.0
FC3
4200 VAN REAL
S/. 1,172.92
4254.3
FC4
3500 VAN NOMINAL S/. 1,172.92
5232.8
FC5
4100

TASA NOMINAL
0.1445

PAYBACK RULE
REGLA DE RECUPERACION DE LA INVERSION
determinar en cuanto tiempo se va a recuperar lo invertido
su desventaja no toma en cuenta el valor de dinero en el tiempo
inversion
fc1
-20000

fc2
12000

fc3
6000
18000

4000

layout

distribucion de los recursos ( planta, equipos, personas)

caso bophal"

s, personas)

PROYECTO CRIANZA DE CUYES

INVERSION
-103550
FC1
-9671.2
FC2
23414.4
FC3
63645.5
FC4
111921
FC5
169851.6
TIRE
1.45%

TASA INTERES

S/. 337,885.87

VANE
INVERSION
FC1
FC2
FC3
FC4

PROYECTO CRIANZA
INVERSION
FC1
FC2
FC3
FC4
FC5
35%
S/. 234,335.87

234,335.87

-23550
-26486.25
-30877.76
81822
88068
TIRF
1.45%

TASA INTERES

VANF

35%

S/. 105,394.40

S/. 81,844.40

81,844.40

RELACION BENEFICIO - COSTO

B/C =
VAB/VAC
INGRESO 1
59007
INGRESO 2
132600
INGRESO 3
136500
INGRESO 4
143000
1.45% S/. 452,728.80
TASA INTERES
VAB=
S/.452.728,80
COSTO
COSTO
COSTO
COSTO

1
2
3
4

59617
54073
54678
54932
1.45%

TASA INTERES

VAC=

S/. 215,528.27
S/.215528,27

B/C =
2.10
POR CADA SOL INVERTIDO, ESTE TENDRA RETORNO DE 2,10 SOLES

TASA INTERES

98

78

12

32

funcion min funcion max

-103550

PROYECTO CRIANZA DE CUYES

-103550
-610
78527
81822
88068

1.45%
VANE

237200.53
133650.53