CRECIMIENTO DE POBLACION tc = (P1-Po)/Po

AÑOS POBLACION CRECIMIENTO P2= P1*(1+tc)

2000 50000 proyecccion
2001 50800 0.0160 Demanda Proyeccion oferta
2002 48000 -0.0551 2013 58000 2013
2003 51000 0.0625 2014 59178 0.0203 2014
2004 51700 0.0137 2015 60379.9256 2015
2005 52300 0.0116 2016 61606.2627 2016
2006 52650 0.0067 2017 62857.5071 2017
2007 53000 0.0066 2018 64134.1648 2018
2008 53250 0.0047 2019 65436.7518 2019
2009 54000 0.0141
2010 54200 0.0037
promedio 0.0085 Proyeccion oferta historica
11785
2011 54658.3034 2013 11952
2012 55120.4821 tc = (P1-Po)/Po 2012 11785
2013 55586.5689 P1= P2/(1+tc) 2011 11620.3334
2014 56056.5968 2010 11457.9676
2015 56530.5992 2009 11297.8705
2008 11140.0104
 Proyeccion oferta
11952 250000 0.16
12319 0.03070616 290000
12697.2692 250000
13087.1535 215517.241
13489.0097 185790.725
13903.2054 160164.418
14330.1194 138072.774

on oferta historica Proyeccion demanda historica

250000 11785
0.01417056 2013 290000 0.16 11952 0.01417056
2012 250000 11785
2011 215517.241 11620.3334
2010 185790.725 11457.9676
2009 160164.418 11297.8705
2008 138072.774 11140.0104
10984.356
10830.8764
58000 0.02031034
59178
59178
59178
59178
59178
59178
59178
AÑO POBLACION CRECIMIENTO
2005 500 1 CALCULAR LA TASA DE CRECIMIENTO INTERANUAL
2006 538 0.076 2 CALCULAR LA TASA DE CRECIMIENTO PROMEDIO
2007 590 0.09665428 3 PROYECTAR LA POBLACION INTERANUALMENTE Y PA
2008 630 0.06779661
2009 610 -0.031746
2010 650 0.06557377
PROMEDIO 0.05485572 Calculo de poblacion a partir de dos dato
1 500
2011 685.656221 2 538
2012 723.26839 3
2013 762.943802 4
2014 804.795637 1448.1359 5
2015 848.943285 6
2016 895.512684 7
2017 944.636682 8
2018 996.455412 9
2019 1051.1167 10
2020 1108.77646
2021 1169.5992
2022 1233.75841 tc = (P1-Po)/Po
2023 1301.43712 P2= P1*(1+tc)
2024 1372.8284
2025 1448.1359
ECIMIENTO INTERANUAL
ECIMIENTO PROMEDIO
N INTERANUALMENTE Y PARA EL 2025

blacion a partir de dos datos

0.076 1 500
538 2 538 0.076
578.888 3 578.888
622.883488 4 622.883488
670.222633 5 670.222633
721.159553 6 721.159553
775.967679 7 775.967679
834.941223 8 834.941223
898.396756 9 898.396756
966.674909 10 966.674909
PRESTAMO 10000
TASA 1.40%
VENCIMIENT 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 AMORTIZACIOSALDO 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
PRESTAMO 18500
TASA 1.50%
VENCIMIENT 36 MESES

EL PRESTAMO SE AMORTIZA EN CUOTAS CONSTANTES

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

CUOTA S/. 668.82 (INTERES + AMORTIZACION) S/. 668.82

PERIODO SALDO INICIACUOTA INTERES AMORTIZACI SALDO FINAL

1 18500.000 668.820 277.500 391.320 18108.680
2 18108.680 668.820 271.630 397.190 17711.490
3 17711.490 668.820 265.672 403.148 17308.343
4 17308.343 668.820 259.625 409.195 16899.148
5 16899.148 668.820 253.487 415.333 16483.815
6 16483.815 668.820 247.257 421.563 16062.252
7 16062.252 668.820 240.934 427.886 15634.366
8 15634.366 668.820 234.515 434.305 15200.061
9 15200.061 668.820 228.001 440.819 14759.242
10 14759.242 668.820 221.389 447.431 14311.811
11 14311.811 668.820 214.677 454.143 13857.668
12 13857.668 668.820 207.865 460.955 13396.713
13 13396.713 668.820 200.951 467.869 12928.844
14 12928.844 668.820 193.933 474.887 12453.956
15 12453.956 668.820 186.809 482.011 11971.946 1
16 11971.946 668.820 179.579 489.241 11482.705 2
17 11482.705 668.820 172.241 496.579 10986.126 3
18 10986.126 668.820 164.792 504.028 10482.097 4
19 10482.097 668.820 157.231 511.589 9970.509 5
20 9970.509 668.820 149.558 519.262 9451.247 6
21 9451.247 668.820 141.769 527.051 8924.195 7
22 8924.195 668.820 133.863 534.957 8389.238 8
23 8389.238 668.820 125.839 542.981 7846.257 9
24 7846.257 668.820 117.694 551.126 7295.131 10
25 7295.131 668.820 109.427 559.393 6735.738 11
26 6735.738 668.820 101.036 567.784 6167.954 12
27 6167.954 668.820 92.519 576.301 5591.653 13
28 5591.653 668.820 83.875 584.945 5006.708 14
29 5006.708 668.820 75.101 593.719 4412.988 15
30 4412.988 668.820 66.195 602.625 3810.363 16
31 3810.363 668.820 57.155 611.665 3198.699 17
32 3198.699 668.820 47.980 620.840 2577.859 18
33 2577.859 668.820 38.668 630.152 1947.707 19
34 1947.707 668.820 29.216 639.604 1308.103 20
35 1308.103 668.820 19.622 649.198 658.904 21
36 658.904 668.820 9.884 658.936 -0.032 22
24077.520 5577.488 18500.032 23
24
1.50% 12 18.00% TASA NOMINAL
19.56% TASA EFECTIVA
30.15% COSTE FINANCIERO
PRESTAMO 750
TASA 1.40%
VENCIMIENT 5 meses

Ejercicios:
Se tiene un préstamo de 750 soles a una tasa de 1.40 mensual, para un período de 5 meses
se pide calcular la amortizacion y el total devuelto por el prestamo
CUOTA S/. 156.36 (INTERES + AMORTIZACION)

PERIODO SALDO INICIACUOTA INTERES AMORTIZACI SALDO FINAL

1 750.000 156.358 10.500 145.858 604.142
2 604.142 156.358 9.062 147.296 456.846
3 456.846 156.358 6.853 149.505 307.340
4 307.340 156.358 4.610 151.748 155.593
5 155.593 156.358 2.334 154.024 1.568
781.790 33.359 748.432
CUOTA= (interes;venc;-prestamo)
PRESTAMO CUOTAS CONSTANTES INTERES= prestamo*$interes$
prestamo 80000 AMORTIZ= cuota-interes
tasa 1.45% SALDO FIN= saldo inic-amortz
vencimiento 24 cuota S/. 3,970.77

saldo inic cuota interes amortiz saldo final

saldo inic cuota
80000 S/. 3,970.77 1160.000 2810.774 77189.226 1 80000 3970.77
77189.226 3970.77 1119.244 2851.526 74337.700 2 77189.23 3970.77
74337.700 3970.77 1077.897 2892.873 71444.826 3 74337.70 3970.77
71444.826 3970.77 1035.950 2934.820 68510.006 4 71444.83 3970.77
68510.006 3970.77 993.395 2977.375 65532.631 5 68510.01 3970.77
65532.631 3970.77 950.223 3020.547 62512.084 6 65532.63 3970.77
62512.084 3970.77 906.425 3064.345 59447.740 7 62512.08 3970.77
59447.740 3970.77 861.992 3108.778 56338.962 8 59447.74 3970.77
56338.962 3970.77 816.915 3153.855 53185.107 9 56338.96 3970.77
53185.107 3970.77 771.184 3199.586 49985.521 10 53185.11 3970.77
49985.521 3970.77 724.790 3245.980 46739.541 11 49985.52 3970.77
46739.541 3970.77 677.723 3293.047 43446.494 12 46739.54 3970.77
43446.494 3970.77 629.974 3340.796 40105.698 13 43446.49 3970.77
40105.698 3970.77 581.533 3389.237 36716.461 14 40105.70 3970.77
36716.461 3970.77 532.389 3438.381 33278.080 15 36716.46 3970.77
33278.080 3970.77 482.532 3488.238 29789.842 16 33278.08 3970.77
29789.842 3970.77 431.953 3538.817 26251.025 17 29789.84 3970.77
26251.025 3970.77 380.640 3590.130 22660.894 18 26251.02 3970.77
22660.894 3970.77 328.583 3642.187 19018.707 19 22660.89 3970.77
19018.707 3970.77 275.771 3694.999 15323.709 20 19018.71 3970.77
15323.709 3970.77 222.194 3748.576 11575.132 21 15323.71 3970.77
 11575.132 3970.77 167.839 3802.931 7772.202 22 11575.13 3970.77
7772.202 3970.77 112.697 3858.073 3914.129 23 7772.20 3970.77
3914.129 3970.77 56.755 3914.015 0.114 24 3914.13 3970.77

ANUAL
teres;venc;-prestamo)
estamo*$interes$

do inic-amortz

interes amortiz saldo final

1160 2810.77 77189.23
1119.24 2851.53 74337.70
1077.90 2892.87 71444.83
1035.95 2934.82 68510.01
993.40 2977.37 65532.63
950.22 3020.55 62512.08
906.43 3064.34 59447.74
861.99 3108.78 56338.96
816.91 3153.86 53185.11
771.18 3199.59 49985.52
724.79 3245.98 46739.54
677.72 3293.05 43446.49
629.97 3340.80 40105.70
581.53 3389.24 36716.46
532.39 3438.38 33278.08
482.53 3488.24 29789.84
431.95 3538.82 26251.02
380.64 3590.13 22660.89
328.58 3642.19 19018.71
275.77 3695.00 15323.71
222.19 3748.58 11575.13
167.84 3802.93 7772.20
112.70 3858.07 3914.13
56.75 3914.02 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

ANUAL
PRESTAMO 18500
TASA 1.50%
VENCIMIENT 36 MESES
3 2 1
PERIODO SALDO INICIACUOTA INTERES AMORTIZACI SALDO FINAL
1 18500.00 2768.25 268.25 2500.00 16000.00
2 16000.00 2732.00 232.00 2500.00 13500.00
3 13500.00 2695.75 195.75 2500.00 11000.00
4 11000.00 2659.50 159.50 2500.00 8500.00
5 8500.00 2623.25 123.25 2500.00 6000.00
6 6000.00 2587.00 87.00 2500.00 3500.00
7 3500.00 2550.75 50.75 2500.00 1000.00
8 1000.00 2514.50 14.50 2500.00 -1500.00
9 -1500.00 2478.25 -21.75 2500.00 -4000.00
10 -4000.00 2442.00 -58.00 2500.00 -6500.00
11 -6500.00 2405.75 -94.25 2500.00 -9000.00
12 -9000.00 2369.50 -130.50 2500.00 -11500.00
13 -11500.00 2333.25 -166.75 2500.00 -14000.00
14 -14000.00 2297.00 -203.00 2500.00 -16500.00
15 -16500.00 2260.75 -239.25 2500.00 -19000.00
16 -19000.00 2224.50 -275.50 2500.00 -21500.00
17 -21500.00 2188.25 -311.75 2500.00 -24000.00
18 -24000.00 2152.00 -348.00 2500.00 -26500.00
19 -26500.00 2115.75 -384.25 2500.00 -29000.00
20 -29000.00 2079.50 -420.50 2500.00 -31500.00
21 -31500.00 2043.25 -456.75 2500.00 -34000.00
22 -34000.00 2007.00 -493.00 2500.00 -36500.00
23 -36500.00 1970.75 -529.25 2500.00 -39000.00
24 -39000.00 1934.50 -565.50 2500.00 -41500.00
25 -41500.00 1898.25 -601.75 2500.00 -44000.00
26 -44000.00 1862.00 -638.00 2500.00 -46500.00
27 -46500.00 1825.75 -674.25 2500.00 -49000.00
28 -49000.00 1789.50 -710.50 2500.00 -51500.00
29 -51500.00 1753.25 -746.75 2500.00 -54000.00
30 -54000.00 1717.00 -783.00 2500.00 -56500.00
31 -56500.00 1680.75 -819.25 2500.00 -59000.00
32 -59000.00 1644.50 -855.50 2500.00 -61500.00
33 -61500.00 1608.25 -891.75 2500.00 -64000.00
34 -64000.00 1572.00 -928.00 2500.00 -66500.00
35 -66500.00 1535.75 -964.25 2500.00 -69000.00
36 -69000.00 1499.50 -1000.50 2500.00 -71500.00
 PRESTAMO 18500
TASA 1.50%
VENCIMIENT 36 MESES
666 3 2 1
FACTOR DE PPERIODO SALDO INICIACUOTA INTERES AMORTIZACI SALDO FINAL
0.0005 1 18500.00 287.61 277.50 10.11 18489.89
0.0011 2 18489.89 297.57 277.35 20.22 18469.67
0.0016 3 18469.67 307.37 277.05 30.33 18439.34
0.0022 4 18439.34 317.03 276.59 40.44 18398.91
0.0027 5 18398.91 326.53 275.98 50.55 18348.36
0.0033 6 18348.36 335.88 275.23 60.66 18287.70
0.0038 7 18287.70 345.08 274.32 70.77 18216.94
0.0044 8 18216.94 354.13 273.25 80.87 18136.07
0.0049 9 18136.07 363.02 272.04 90.98 18045.08
0.0055 10 18045.08 371.77 270.68 101.09 17943.99
0.0060 11 17943.99 380.36 269.16 111.20 17832.79
0.0066 12 17832.79 388.80 267.49 121.31 17711.48
0.0071 13 17711.48 397.09 265.67 131.42 17580.05
0.0077 14 17580.05 405.23 263.70 141.53 17438.52
0.0082 15 17438.52 413.22 261.58 151.64 17286.89
0.0087 16 17286.89 421.05 259.30 161.75 17125.14
0.0093 17 17125.14 428.73 256.88 171.86 16953.28
0.0098 18 16953.28 436.27 254.30 181.97 16771.31
0.0104 19 16771.31 443.65 251.57 192.08 16579.23
0.0109 20 16579.23 450.87 248.69 202.19 16377.05
0.0115 21 16377.05 457.95 245.66 212.30 16164.75
0.0120 22 16164.75 464.88 242.47 222.40 15942.35
0.0126 23 15942.35 471.65 239.14 232.51 15709.84
0.0131 24 15709.84 478.27 235.65 242.62 15467.21
0.0137 25 15467.21 484.74 232.01 252.73 15214.48
0.0142 26 15214.48 491.06 228.22 262.84 14951.64
0.0148 27 14951.64 497.23 224.27 272.95 14678.69
0.0153 28 14678.69 503.24 220.18 283.06 14395.63
0.0158 29 14395.63 509.10 215.93 293.17 14102.46
0.0164 30 14102.46 514.82 211.54 303.28 13799.18
0.0169 31 13799.18 520.38 206.99 313.39 13485.79
0.0175 32 13485.79 525.78 202.29 323.50 13162.30
0.0180 33 13162.30 531.04 197.43 333.61 12828.69
0.0186 34 12828.69 536.15 192.43 343.72 12484.97
0.0191 35 12484.97 541.10 187.27 353.83 12131.15
0.0197 36 12131.15 545.90 181.97 363.93 11767.21
15544.55 8811.76 6732.79
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 150000
TASA 1.45%
VENCIMIENTO 60 MESES

CUOTA S/. 3,760.22 (INTERES + AMORTIZACION) S/. 3,760.22

PERIODO SALDO INICIACUOTA INTERES AMORTIZACI SALDO 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 83517.273 3760.22 1211.000 2549.220 80968.054
35 80968.054 3760.22 1174.037 2586.183 78381.871
36 78381.871 3760.22 1136.537 2623.683 75758.188
37 75758.188 3760.22 1098.494 2661.726 73096.461
38 73096.461 3760.22 1059.899 2700.321 70396.140
39 70396.140 3760.22 1020.744 2739.476 67656.664
40 67656.664 3760.22 981.022 2779.198 64877.466
41 64877.466 3760.22 940.723 2819.497 62057.969
42 62057.969 3760.22 899.841 2860.379 59197.590
43 59197.590 3760.22 858.365 2901.855 56295.735
44 56295.735 3760.22 816.288 2943.932 53351.803
45 53351.803 3760.22 773.601 2986.619 50365.184
46 50365.184 3760.22 730.295 3029.925 47335.259
47 47335.259 3760.22 686.361 3073.859 44261.400
48 44261.400 3760.22 641.790 3118.430 41142.971
49 41142.971 3760.22 596.573 3163.647 37979.324
50 37979.324 3760.22 550.700 3209.520 34769.804
51 34769.804 3760.22 504.162 3256.058 31513.746
52 31513.746 3760.22 456.949 3303.271 28210.475
53 28210.475 3760.22 409.052 3351.168 24859.307
54 24859.307 3760.22 360.460 3399.760 21459.547
55 21459.547 3760.22 311.163 3449.057 18010.491
56 18010.491 3760.22 261.152 3499.068 14511.423
57 14511.423 3760.22 210.416 3549.804 10961.618
58 10961.618 3760.22 158.943 3601.277 7360.342
59 7360.342 3760.22 106.725 3653.495 3706.847
60 3706.847 3760.22 53.749 3706.471 0.376
225613.20 75613.58 149999.62

1.45% 12 17.40% TASA NOMINAL

18.86% TASA EFECTIVA
33.51% COSTE FINANCIERO

PRESTAMO 150000
TASA 1.45%
VENCIMIENTO 60 MESES
3 2 1
PERIODO SALDO INICIACUOTA INTERES AMORTIZACI SALDO 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 132500.00 4421.25 1921.25 2500.00 130000.00
9 130000.00 4385.00 1885.00 2500.00 127500.00
10 127500.00 4348.75 1848.75 2500.00 125000.00
11 125000.00 4312.50 1812.50 2500.00 122500.00
12 122500.00 4276.25 1776.25 2500.00 120000.00
13 120000.00 4240.00 1740.00 2500.00 117500.00
14 117500.00 4203.75 1703.75 2500.00 115000.00
15 115000.00 4167.50 1667.50 2500.00 112500.00
16 112500.00 4131.25 1631.25 2500.00 110000.00
17 110000.00 4095.00 1595.00 2500.00 107500.00
18 107500.00 4058.75 1558.75 2500.00 105000.00
19 105000.00 4022.50 1522.50 2500.00 102500.00
20 102500.00 3986.25 1486.25 2500.00 100000.00
21 100000.00 3950.00 1450.00 2500.00 97500.00
22 97500.00 3913.75 1413.75 2500.00 95000.00
23 95000.00 3877.50 1377.50 2500.00 92500.00
24 92500.00 3841.25 1341.25 2500.00 90000.00
25 90000.00 3805.00 1305.00 2500.00 87500.00
26 87500.00 3768.75 1268.75 2500.00 85000.00
27 85000.00 3732.50 1232.50 2500.00 82500.00
28 82500.00 3696.25 1196.25 2500.00 80000.00
29 80000.00 3660.00 1160.00 2500.00 77500.00
30 77500.00 3623.75 1123.75 2500.00 75000.00
31 75000.00 3587.50 1087.50 2500.00 72500.00
32 72500.00 3551.25 1051.25 2500.00 70000.00
33 70000.00 3515.00 1015.00 2500.00 67500.00
34 67500.00 3478.75 978.75 2500.00 65000.00
35 65000.00 3442.50 942.50 2500.00 62500.00
36 62500.00 3406.25 906.25 2500.00 60000.00
37 60000.00 3370.00 870.00 2500.00 57500.00
38 57500.00 3333.75 833.75 2500.00 55000.00
39 55000.00 3297.50 797.50 2500.00 52500.00
40 52500.00 3261.25 761.25 2500.00 50000.00
41 50000.00 3225.00 725.00 2500.00 47500.00
42 47500.00 3188.75 688.75 2500.00 45000.00
43 45000.00 3152.50 652.50 2500.00 42500.00
44 42500.00 3116.25 616.25 2500.00 40000.00
45 40000.00 3080.00 580.00 2500.00 37500.00
46 37500.00 3043.75 543.75 2500.00 35000.00
47 35000.00 3007.50 507.50 2500.00 32500.00
48 32500.00 2971.25 471.25 2500.00 30000.00
49 30000.00 2935.00 435.00 2500.00 27500.00
50 27500.00 2898.75 398.75 2500.00 25000.00
51 25000.00 2862.50 362.50 2500.00 22500.00
52 22500.00 2826.25 326.25 2500.00 20000.00
 53 20000.00 2790.00 290.00 2500.00 17500.00
54 17500.00 2753.75 253.75 2500.00 15000.00
55 15000.00 2717.50 217.50 2500.00 12500.00
56 12500.00 2681.25 181.25 2500.00 10000.00
57 10000.00 2645.00 145.00 2500.00 7500.00
58 7500.00 2608.75 108.75 2500.00 5000.00
59 5000.00 2572.50 72.50 2500.00 2500.00
60 2500.00 2536.25 36.25 2500.00 0.00
216337.50 66337.50 150000.00

1.45% 12 17.40% TASA NOMINAL

18.86% TASA EFECTIVA
30.66% COSTE FINANCIERO

PRESTAMO 150000
TASA 1.45%
VENCIMIENT 60 MESES
1830 3 2 1
FACTOR DE PROPERIODO SALDO INICIACUOTA INTERES AMORTIZACI SALDO FINAL
0.0005 1 150000.00 2256.97 2175.00 81.97 149918.03
0.0011 2 149918.03 2337.66 2173.81 163.84 149754.19
0.0016 3 149754.19 2416.93 2171.44 245.50 149508.69
0.0022 4 149508.69 2494.67 2167.88 326.79 149181.89
0.0027 5 149181.89 2570.74 2163.14 407.60 148774.29
0.0033 6 148774.29 2645.01 2157.23 487.78 148286.51
0.0038 7 148286.51 2717.37 2150.15 567.22 147719.29
0.0044 8 147719.29 2787.70 2141.93 645.77 147073.53
0.0049 9 147073.53 2855.88 2132.57 723.31 146350.21
0.0055 10 146350.21 2921.81 2122.08 799.73 145550.49
0.0060 11 145550.49 2985.38 2110.48 874.89 144675.59
0.0066 12 144675.59 3046.49 2097.80 948.69 143726.90
0.0071 13 143726.90 3105.05 2084.04 1021.01 142705.89
0.0077 14 142705.89 3160.97 2069.24 1091.74 141614.15
0.0082 15 141614.15 3214.18 2053.41 1160.77 140453.38
0.0087 16 140453.38 3264.58 2036.57 1228.01 139225.37
0.0093 17 139225.37 3312.12 2018.77 1293.35 137932.02
0.0098 18 137932.02 3356.72 2000.01 1356.71 136575.31
0.0104 19 136575.31 3398.34 1980.34 1418.00 135157.32
0.0109 20 135157.32 3436.91 1959.78 1477.13 133680.19
0.0115 21 133680.19 3472.40 1938.36 1534.03 132146.15
0.0120 22 132146.15 3504.76 1916.12 1588.64 130557.51
0.0126 23 130557.51 3533.97 1893.08 1640.89 128916.62
0.0131 24 128916.62 3560.00 1869.29 1690.71 127225.91
0.0137 25 127225.91 3582.83 1844.78 1738.06 125487.85
0.0142 26 125487.85 3602.46 1819.57 1782.89 123704.97
0.0148 27 123704.97 3618.88 1793.72 1825.16 121879.81
0.0153 28 121879.81 3632.08 1767.26 1864.83 120014.98
0.0158 29 120014.98 3642.09 1740.22 1901.88 118113.11
0.0164 30 118113.11 3648.92 1712.64 1936.28 116176.83
0.0169 31 116176.83 3652.59 1684.56 1968.02 114208.80
0.0175 32 114208.80 3653.12 1656.03 1997.09 112211.71
0.0180 33 112211.71 3650.56 1627.07 2023.49 110188.22
0.0186 34 110188.22 3644.94 1597.73 2047.21 108141.01
0.0191 35 108141.01 3636.32 1568.04 2068.27 106072.74
0.0197 36 106072.74 3624.73 1538.05 2086.68 103986.06
0.0202 37 103986.06 3610.25 1507.80 2102.45 101883.61
0.0208 38 101883.61 3592.93 1477.31 2115.62 99767.99
0.0213 39 99767.99 3572.84 1446.64 2126.20 97641.79
0.0219 40 97641.79 3550.05 1415.81 2134.25 95507.54
0.0224 41 95507.54 3524.65 1384.86 2139.79 93367.76
0.0230 42 93367.76 3496.70 1353.83 2142.87 91224.89
0.0235 43 91224.89 3466.30 1322.76 2143.54 89081.35
0.0240 44 89081.35 3433.53 1291.68 2141.85 86939.51
0.0246 45 86939.51 3398.48 1260.62 2137.86 84801.65
0.0251 46 84801.65 3361.25 1229.62 2131.63 82670.03
0.0257 47 82670.03 3321.93 1198.72 2123.22 80546.81
0.0262 48 80546.81 3280.63 1167.93 2112.70 78434.10
0.0268 49 78434.10 3237.44 1137.29 2100.15 76333.95
0.0273 50 76333.95 3192.47 1106.84 2085.63 74248.33
0.0279 51 74248.33 3145.82 1076.60 2069.22 72179.11
0.0284 52 72179.11 3097.59 1046.60 2050.99 70128.12
0.0290 53 70128.12 3047.89 1016.86 2031.03 68097.09
0.0295 54 68097.09 2996.83 987.41 2009.42 66087.67
0.0301 55 66087.67 2944.51 958.27 1986.24 64101.42
0.0306 56 64101.42 2891.04 929.47 1961.57 62139.85
0.0311 57 62139.85 2836.53 901.03 1935.50 60204.35
0.0317 58 60204.35 2781.08 872.96 1908.12 58296.23
0.0322 59 58296.23 2724.79 845.30 1879.50 56416.73
0.0328 60 56416.73 2667.77 818.04 1849.73 54567.01
193119.43 97686.43 95432.99

1.45% 12 17.40% TASA NOMINAL

18.86% TASA EFECTIVA
50.58% COSTE FINANCIERO
 0.1

1.45
valor de mercado 120000 valor de mercado
valor residual 3600 3% valor de mercado valor residual
vida util 10 40000 vida util
estado perdidabalance general
cuadro de depreciacion de activos fijos periodo
periodo bvalor inicial depreciacion adep acumulado valor final 1
1 120000 S/. 11,640.00 11640.00 S/. 108,360.00 2
2 108360 S/. 11,640.00 23280.00 S/. 96,720.00 3
3 96720 S/. 11,640.00 S/. 34,920.00 S/. 85,080.00 4
4 85080 S/. 11,640.00 S/. 46,560.00 S/. 73,440.00 5
5 73440 S/. 11,640.00 S/. 58,200.00 S/. 61,800.00 6
6 61800 S/. 11,640.00 S/. 69,840.00 S/. 50,160.00 7
7 50160 S/. 11,640.00 S/. 81,480.00 S/. 38,520.00 8
8 38520 S/. 11,640.00 S/. 93,120.00 S/. 26,880.00 9
9 26880 S/. 11,640.00 S/. 104,760.00 S/. 15,240.00 10
10 15240 S/. 11,640.00 S/. 116,400.00 S/. 3,600.00 S/. 120,000.00 11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
alor de mercado 1850000
alor residual 92500.00 5% valor de mercado
30 años

bvalor inicial depreciacion adep acumulavalor final

1850000 S/. 58,583.33 11640.00 S/. 1,791,416.67
1791416.67 S/. 58,583.33 70223.33 S/. 1,732,833.33
1732833.33 S/. 58,583.33 128806.67 S/. 1,674,250.00
1674250 S/. 58,583.33 187390.00 S/. 1,615,666.67
1615666.67 S/. 58,583.33 245973.33 S/. 1,557,083.33
1557083.33 S/. 58,583.33 304556.67 S/. 1,498,500.00
1498500 S/. 58,583.33 363140.00 S/. 1,439,916.67
1439916.67 S/. 58,583.33 421723.33 S/. 1,381,333.33
1381333.33 S/. 58,583.33 480306.67 S/. 1,322,750.00
1322750 S/. 58,583.33 538890.00 S/. 1,264,166.67
1264166.67 S/. 58,583.33 597473.33 S/. 1,205,583.33
1205583.33 S/. 58,583.33 656056.67 S/. 1,147,000.00
1147000 S/. 58,583.33 714640.00 S/. 1,088,416.67
1088416.67 S/. 58,583.33 773223.33 S/. 1,029,833.33
1029833.33 S/. 58,583.33 831806.67 S/. 971,250.00
971250 S/. 58,583.33 890390.00 S/. 912,666.67
912666.667 S/. 58,583.33 948973.33 S/. 854,083.33
854083.333 S/. 58,583.33 1007556.67 S/. 795,500.00
795500 S/. 58,583.33 1066140.00 S/. 736,916.67
736916.667 S/. 58,583.33 1124723.33 S/. 678,333.33
678333.333 S/. 58,583.33 1183306.67 S/. 619,750.00
619750 S/. 58,583.33 1241890.00 S/. 561,166.67
561166.667 S/. 58,583.33 1300473.33 S/. 502,583.33
502583.333 S/. 58,583.33 1359056.67 S/. 444,000.00
444000 S/. 58,583.33 1417640.00 S/. 385,416.67
385416.667 S/. 58,583.33 1476223.33 S/. 326,833.33
326833.333 S/. 58,583.33 1534806.67 S/. 268,250.00
268250 S/. 58,583.33 1593390.00 S/. 209,666.67
209666.667 S/. 58,583.33 1651973.33 S/. 151,083.33
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

AÑOS Rr Rd
2000 8% 12%
2001 7.80% 11.30%
2002 8.30% 12.50%
2003 8.25% 10%
2004 5% 6%
2005 4.50% 6.80%
2006 7.20% 7.15%
2007 7.60% 5%
2008 8.10% 9%
2009 8.20% 9.50%
2010 8% 10%

RC
Err:509 RI
RB

CPPC

FUENTES DE FINANCIAMIENTO COSTE

CAPITAL PROPIO 10% 195,000.00 RC 0.01
DEUDA 60% 1,170,000.00 0.36
EMISION DE BONOS 30% 585,000.00 0.09
INVERSION 1,950,000.00 0.46
 RF 5.50%
B 1.2
e(RM) 12%
RC 13.30

SNIP 14%

RC 13.40%
RI 18.86% 8000.00%
RB 7.50%

13.40% 50000
18.86% 80000
7.50% 20000
150000
INVERSION -1950000 1950000
FC1 400000
FC2 500000
FC3 380000
FC4 420000 S/. -506,672.37
FC5 390000
VAN 1) VALOR ACTUAL DE LOS FLUJOS DE CAJA S/. 1,443,327.63
2)SE SUMA LA INVERSION CON RENTABILIDAD S/. -506,672.37
TASA INTERES 14%

TIR 2.40%
-506,672.37 PARA UN PROYECTO PRIVADO NO SIRVE
LEYES DE MAYKEL

EJERCICIO
INVERSION -2560000 S/. 1,443,710.58 S/. -1,116,289.42
FC1 150000
FC2 155000 TIR 4%
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 PROYECTO CON FINANCIAMIENTO

INVERSION -11880 INVERSION -21880
6487 FC1 12578.93
FC2 9821.4 FC2 14938.87
FC3 9821.4 FC3 16717.16
FC4 9821.4 FC4 19072.8
FC5 9821.4 FC5 19072.8
TASA INTERES 10% TASA INTERES 10%

VAN S/. 34,199.56 VAN S/. 61,211.10

S/. 22,319.56 S/. 39,331.10

TIR 65% TIR 62%

INVERSION -20000
FC1 9000
FC2 9000
FC3 9000
FC4 9000
TIR 28%

TASA INTERES 14% S/. 26,223.41 S/. 6,223.41

6,223.41

ES RENTABLE EL PROYECTO

INVERSION -2400
FC1 1000
FC2 2300

TASA INTERES 8%

VAN S/. 2,897.81

S/. 497.81

TIR 21%
ES RENTABLE

INVERSION -6000
FC1 3500
FC2 4000

TASA INTERES 10%

VAN S/. 6,487.60

S/. 487.60
TIR 16%
ES RENTABLE
 PROYECTO SIN FINANCIAMIENTO O PURO PROYECTO CON FINANCIAMIENTO

INVERSION -11880 INVERSION -21880

FC1 6487 FC1 12578.93
FC2 9821.4 FC2 14938.87
FC3 9821.4 FC3 16717.16
FC4 9821.4 FC4 19072.8
FC5 9821.4 FC5 19072.8
TASA INTERES 10% TASA INTERES 10%

VA S/. 34,199.56 VA S/. 61,211.10

VAN S/. 22,319.56 VAN S/. 39,331.10

TIR 65% TIR 62%

PROYECTO CON FINANCIAMIENTO

INVERSION -20000
FC1 4050
FC2 11935
FC3 -4775
FC4 4143
FC5 5985
TASA INTERES 10%

VA S/. 16,503.87
VAN S/. -3,496.13

TIR 2%

INVERSION -11880
FC1 6487
FC2 9821.4
FC3 9821.4
FC4 9821.4
FC5 9821.4
TASA INTERES 10%

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

TIR 65%
NCIAMIENTO PROYECTO SIN FINANCIAMIENTO O PURO PROYECTO CON FINANCIAMIENTO

INVERSION -11880 INVERSION -21880

FC1 6487 FC1 12578.93
FC2 9821.4 FC2 14938.87
FC3 9821.4 FC3 16717.16
FC4 9821.4 FC4 19072.8
FC5 9821.4 FC5 19072.8
TASA INTERES 20% TASA INTERES 20%

VA S/. 26,593.33 VA S/. 47,393.79

VAN S/. 14,713.33 VAN S/. 25,513.79

TIR 65% TIR 62%

NCIAMIENTO PROYECTO SIN FINANCIAMIENTO O PURO PROYECTO CON FINANCIAMIENTO

INVERSION -20000 INVERSION -20000

FC1 4050 FC1 4050
FC2 11935 FC2 11935
FC3 -4775 FC3 -4775
FC4 4143 FC4 4143
FC5 5985 FC5 5985
TASA INTERES 0% TASA INTERES 5%

VA S/. 21,338.00 VA S/. 18,655.58

VAN S/. 1,338.00 VAN S/. -1,344.42

TIR 2% TIR 2%
 FLUJO DE CAJA NOMINAL
IO -25000 TASA NOMIN 14% FLUJOS REALES
1 FC1 5000 INFLACION 6% 4716.98
2 FC2 6000 5339.98
3 FC3 7500 6297.14
4 FC4 8300 6574.38
5 FC5 6000 4483.55
EVALUAR EL PROYECTO CON Y SIN INFLACION

S/. -2,904.47 VAN CON INFLACION

S/. -2,904.47 VAN SIN INFLACION

FLUJO DE CAJA REALES TERMINOS NOMINALES

IO -15000 TASA REAL 9% 5250.0
1 FC1 5000 INFLACION 5% 4189.5
2 FC2 3800 4862.0
3 FC3 4200 VAN REAL S/. 1,172.92 4254.3
4 FC4 3500 VAN NOMINA S/. 1,172.92 5232.8
5 FC5 4100
 FLUJO DE CAJA NOMINAL
LUJOS REALES TASA REAL IO -1580000 TASA NOMIN
0.0755 1 FC1 100000 INFLACION
2 FC2 101500
3 FC3 103000
4 FC4 104500
5 FC5 106000
6 FC6 107500
7 FC7 109000
8 FC8 110500
9 FC9 112000
10 FC10 113500
ERMINOS NOMINALES TASA NOMINAL 11 FC11 115000
0.1445 12 FC12 116500
13 FC13 118000
14 FC14 119500
15 FC15 121000
16 FC16 122500
17 FC17 124000
18 FC18 125500
19 FC19 127000
20 FC20 128500

EVALUAR EL PROYECTO CON Y SIN INFLACION

BIEN S/. -816,497 VAN CON INFLACION

BIEN S/. -816,497 VAN SIN INFLACION

FLUJO DE CAJA REALES

IO -15000
1 FC1 5000
2 FC2 3800
3 FC3 4200
4 FC4 3500
5 FC5 4100
 13% FLUJOS REALES TASA REAL
5% 95693.78 0.0813
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

TERMINOS NOMINALES TASA NOMINAL

TASA REAL 9% 5250.0 0.1445
INFLACION 5% 4189.5
4862.0
VAN REAL S/. 1,172.92 4254.3
VAN NOMINAS/. 1,172.92 5232.8
PAYBACK RULE
REGLA DE RECUPERACION DE LA INVERSION layout
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 fc2 fc3

-20000 12000 6000 4000
18000
distribucion de los recursos ( planta, equipos, personas)
caso bophal"
 PROYECTO CRIANZA DE CUYES PROYECTO CRIANZA DE CUYES
INVERSION -103550 INVERSION -103550
FC1 3539 FC1 3539
FC2 51431 FC2 51431
FC3 108904 FC3 108904
FC4 177869 FC4 177869
FC5 260627 FC5 260627
TIRE 59%

TASA INTERES 1.45% S/. 568,203.01 S/. 464,653.01 TASA INTERES 1.45%
VANE
VANE 464,653.01

INVERSION -23550 -23550

FC1 -44110.2 -44110.2
FC2 3781.6 3781.6
FC3 108904 108904
FC4 177869 177869
FC5 260627 260627
TIRF 83%

TASA INTERES 1.45% S/. 474,937.80 S/. 451,387.80

VANF 451,387.80

RELACION BENEFICIO - COSTO

B/C = VAB/VAC
INGRESO 1 239447 239447 S/. 1,698,119.95
INGRESO 2 287339 287339
INGRESO 3 344812 344812
INGRESO 4 413777 413777
INGRESO 5 496535 496535
TASA INTERES 1.45% S/. 1,698,119.95
VAB= S/.1698119,95

COSTO 1 235908 235908 S/. 1,129,916.94

COSTO 2 235908 235908
COSTO 3 235908 235908
COSTO 4 235908 235908
COSTO 5 235908 235908

TASA INTERES 1.45% S/. 1,129,916.94

VAC= S/.1129916,94 1.502871491
B/C = 1.50
POR CADA SOL INVERTIDO, ESTE TENDRA RETORNO DE 1,50 SOLES

funcion min funcion max

98 78 12 32 -103550
IANZA DE CUYES

S/. 458,011.84 TIR 59%

VANE S/. 354,461.84
568203.01
464653.01