Flujo Caja Clases 2

DEUDA S/. 400,000.
00
TASA INTERES (ANUAL) 18%
PERIODO (AÑOS) 4
TASA INTERES (SEMESTRAL) 9%
PERIODO (SEMESTRE) 8
DETERMINACIÓN CUOTA FIJA A PAGAR

FÓRMULA CUOTA FIJA: A=P((1+i)^n.i)/(1+i)^n-1))
CUOTA FIJA: S/. 72,269.75
AÑO DEUDA AMORTIZACIÓN INTERESES CUOTA
0 S/. 400,000.00
1 S/. 363,730.25 S/. 36,269.75 S/. 36,000.00 S/. 72,269.75
2 S/. 324,196.22 S/. 39,534.03 S/. 32,735.72 S/. 72,269.75
3 S/. 281,104.13 S/. 43,092.09 S/. 29,177.66 S/. 72,269.75
4 S/. 234,133.75 S/. 46,970.38 S/. 25,299.37 S/. 72,269.75
5 S/. 182,936.04 S/. 51,197.71 S/. 21,072.04 S/. 72,269.75
6 S/. 127,130.53 S/. 55,805.51 S/. 16,464.24 S/. 72,269.75
7 S/. 66,302.52 S/. 60,828.00 S/. 11,441.75 S/. 72,269.75
8 S/. 0.00 S/. 66,302.52 S/. 5,967.23 S/. 72,269.75
TOTALES S/. 400,000.00 S/. 178,158.01 S/. 578,158.01
DETERMINACIÓN CUOTA DECRECIENTE

0 S/. 400,000.00
1 S/. 350,000.00 S/. 50,000.00 S/. 36,000.00 S/. 86,000.00
2 S/. 300,000.00 S/. 50,000.00 S/. 31,500.00 S/. 81,500.00
3 S/. 250,000.00 S/. 50,000.00 S/. 27,000.00 S/. 77,000.00
4 S/. 200,000.00 S/. 50,000.00 S/. 22,500.00 S/. 72,500.00
5 S/. 150,000.00 S/. 50,000.00 S/. 18,000.00 S/. 68,000.00
6 S/. 100,000.00 S/. 50,000.00 S/. 13,500.00 S/. 63,500.00
7 S/. 50,000.00 S/. 50,000.00 S/. 9,000.00 S/. 59,000.00
8 S/. - S/. 50,000.00 S/. 4,500.00 S/. 54,500.00
TOTALES S/. 400,000.00 S/. 162,000.00 S/. 562,000.00
DETERMINACIÓN CUOTA CRECIENTE
AÑO FACTOR DEUDA AMORTIZACIÓN INTERESES CUOTA

0 n/36 S/. 400,000.00
1 0.0277777778 S/. 388,888.89 S/. 11,111.11 S/. 36,000.00 S/. 47,111.11
2 0.0555555556 S/. 366,666.67 S/. 22,222.22 S/. 35,000.00 S/. 57,222.22
3 0.0833333333 S/. 333,333.33 S/. 33,333.33 S/. 33,000.00 S/. 66,333.33
4 0.1111111111 S/. 288,888.89 S/. 44,444.44 S/. 30,000.00 S/. 74,444.44
5 0.1388888889 S/. 233,333.33 S/. 55,555.56 S/. 26,000.00 S/. 81,555.56
6 0.1666666667 S/. 166,666.67 S/. 66,666.67 S/. 21,000.00 S/. 87,666.67
7 0.1944444444 S/. 88,888.89 S/. 77,777.78 S/. 15,000.00 S/. 92,777.78
8 0.2222222222 S/. - S/. 88,888.89 S/. 8,000.00 S/. 96,888.89
36 S/. 400,000.00 S/. 204,000.00 S/. 604,000.00
DEUDA S/. 400,000.00

TASA INTERES (ANUAL) 18%
PERIODO (AÑOS) 4
TASA INTERES (SEMESTRAL) 9%
PERIODO (SEMESTRE) 8
PERIODO DE GRACIA 2
PERIODO POR PAGAR 6
DETERMINACIÓN CUOTA FIJA Y PERIODO DE GRACIA TOTAL
CUOTA FIJA: S/. 105,940.40
0 S/. 400,000.00
1 S/. 436,000.00 S/. -36,000.00 S/. 36,000.00 S/. -
2 S/. 475,240.00 S/. -39,240.00 S/. 39,240.00 S/. -
3 S/. 412,071.20 S/. 63,168.80 S/. 42,771.60 S/. 105,940.40
4 S/. 343,217.21 S/. 68,853.99 S/. 37,086.41 S/. 105,940.40
5 S/. 268,166.36 S/. 75,050.85 S/. 30,889.55 S/. 105,940.40
6 S/. 186,360.94 S/. 81,805.43 S/. 24,134.97 S/. 105,940.40
7 S/. 97,193.03 S/. 89,167.91 S/. 16,772.48 S/. 105,940.40
8 S/. 0.00 S/. 97,193.03 S/. 8,747.37 S/. 105,940.40
TOTALES S/. 400,000.00 S/. 235,642.39 S/. 635,642.39
DETERMINACIÓN CUOTA FIJA Y PERIODO DE GRACIA PARCIAL

CUOTA FIJA: S/. 89,167.91
0 S/. 400,000.00
1 S/. 400,000.00 S/. - S/. 36,000.00 S/. 36,000.00
2 S/. 400,000.00 S/. - S/. 36,000.00 S/. 36,000.00
3 S/. 346,832.09 S/. 53,167.91 S/. 36,000.00 S/. 89,167.91
4 S/. 288,879.06 S/. 57,953.03 S/. 31,214.89 S/. 89,167.91
5 S/. 225,710.26 S/. 63,168.80 S/. 25,999.12 S/. 89,167.91
6 S/. 156,856.27 S/. 68,853.99 S/. 20,313.92 S/. 89,167.91
7 S/. 81,805.43 S/. 75,050.85 S/. 14,117.06 S/. 89,167.91
8 S/. 0.00 S/. 81,805.43 S/. 7,362.49 S/. 89,167.91
TOTALES S/. 400,000.00 S/. 207,007.48 S/. 607,007.48
UN INVERSIONISTA DESEA CONOCER LA FACTIBILIDAD DE INVERTIR S/. 500,000 QUE SE DESTINARÁN EN UN 70% A LA COMPRA DE MAQUIN
EL FINANCIAMIENTO DE LA INVERSIÓN SE PIENSA REALIZAR PIDIENDO UN PRÉSTAMO DE S/. 400,000 A UN BANCO PARA SER PAGADOS EN
DEL 18% ANUAL, LA DIFERENCIA DE LA INVERSIÓN SE HA FINANCIADO CON APORTE DE LOS ACCIONISTAS A UNA COK DEL 25%, LA MAQUIN
LA DEPRECIACIÓN ES LINEAL Y AL FINAL DE SU VIDA ÚTIL SE VENDE EN S/. 20,000. LAS VENTAS DE LA EMPRESA EN EL AÑO 1 ES DE S/. 1,50
SUFRAN UN INCREMENTO EN UN 1% CON RESPECTO AL AÑO ANTERIOR. EL COSTO DE VENTAS REPRESENTA EL 85% DE LAS VENTAS.
SE SOLICITA DETERMINAR VAN Y TIR ECONOMICO Y FINANCIERO.
PERIODO 0
VENTAS S/. 1,500,000.00 VENTAS
INCREMENTO VENTAS 1.01 COSTO DE VENTAS
COSTO DE VENTAS 88% DEPRECIACION
INVERSION S/. 500,000.00 U. BRUTA
ACTIVO FIJO S/. 350,000.00 I. RENTA
CAPITAL TRABAJO S/. 150,000.00 NOPAT
DEUDA S/. 400,000.00 DEPRECIACION
CAPITAL PROPIO S/. 100,000.00 VTA. ACT. FIJO
TASA INTERES 18% CAPITAL DE TRABAJO
COK 25% INVERSION S/. -500,000.00
VIDA UTIL 5 ACTIVO FIJO S/. -350,000.00
DEPRECIACION EN 5 AÑOS S/. 70,000.00 CAPITAL DE TRABAJO S/. -150,000.00
SE VENDE ACT. FIJO S/. 20,000.00 FLUJO CAJA LIBRE (ECONOMICO) S/. -500,000.00
I. RENTA 28% (+) PRESTAMO S/. 400,000.00
COSTO DEUDA 0.1296 (-) SERVICIO DE LA DEUDA
CPPK 0.15368 (+) EFI
FLUJO CAJA ACCIONISTA (FINANCIERO) S/. -100,000.00

CUOTA FIJA: S/. 127,911.14
AÑO DEUDA AMORTIZACIÓN INTERESES
0 S/. 400,000.00
1 S/. 344,088.86 S/. 55,911.14 S/. 72,000.00
2 S/. 278,113.72 S/. 65,975.14 S/. 61,936.00
3 S/. 200,263.06 S/. 77,850.67 S/. 50,060.47
4 S/. 108,399.27 S/. 91,863.79 S/. 36,047.35
5 S/. - S/. 108,399.27 S/. 19,511.87
TOTALES S/. 400,000.00 S/. 239,555.68
NOPAT
Es el beneficio neto después de impuestos, mide el beneficio de explotación hecho para todos los inversionistas, los accionistas y los sosten
(Con varios ajustes) es de uso frecuente en modelos de EVA.
PERIODO 0
COK 25% INVERSION S/. -500,000.00
CPPK 0.15368 (+) EFI
DETERMINACIÓN VAN Y TIR ECONÓMICO

0 -500,000.00 -500,000.00
1 149,200.00 1.15368 129,325.29
2 150,496.00 1.3309775424 113,071.78
3 151,804.96 1.5355221711 98,862.11
4 153,127.01 1.7715012184 86,439.12
5 324,462.28 2.0437455256 158,758.65
VAN 86,456.95
SE COMPARA CON EL CPPK TIR 21.681%
DETERMINACIÓN VAN Y TIR FINANCIERO

0 -100,000.00 -100,000.00
1 41,448.86 1.25 33,159.09
2 39,926.94 1.5625 25,553.24
3 37,910.75 1.953125 19,410.31
4 35,309.13 2.44140625 14,462.62
5 202,014.47 3.0517578125 66,196.10
VAN 58,781.36
SE COMPARA CON EL COK TIR 45%
NOPAT
PERIODO 0
COK 25% INVERSION S/. -500,000.00
CPPK 0.15368 (+) EFI

0 -500,000.00 -500,000.00
1 149,200.00 1.15368 129,325.29
2 150,496.00 1.3309775424 113,071.78
3 151,804.96 1.5355221711 98,862.11
4 153,127.01 1.7715012184 86,439.12
5 324,462.28 2.0437455256 158,758.65
VAN 86,456.95

0 -100,000.00 -100,000.00
1 41,448.86 1.25 33,159.09
2 39,926.94 1.5625 25,553.24
3 37,910.75 1.953125 19,410.31
4 35,309.13 2.44140625 14,462.62
5 202,014.47 3.0517578125 66,196.10
VAN 58,781.36
NOPAT
PERIODO 0
COK 25% INVERSION S/. -500,000.00
CPPK 0.15368 (+) EFI

0 -500,000.00 -500,000.00
1 149,200.00 1.15368 129,325.29
2 150,496.00 1.3309775424 113,071.78
3 151,804.96 1.5355221711 98,862.11
4 153,127.01 1.7715012184 86,439.12
5 324,462.28 2.0437455256 158,758.65
VAN 86,456.95

0 -100,000.00 -100,000.00
1 41,448.86 1.25 33,159.09
2 39,926.94 1.5625 25,553.24
3 37,910.75 1.953125 19,410.31
4 35,309.13 2.44140625 14,462.62
5 202,014.47 3.0517578125 66,196.10
VAN 58,781.36
NOPAT
PERIODO 0
COK 25% INVERSION S/. -500,000.00
CPPK 0.15368 (+) EFI

0 -500,000.00 -500,000.00
1 149,200.00 1.15368 129,325.29
2 150,496.00 1.3309775424 113,071.78
3 151,804.96 1.5355221711 98,862.11
4 153,127.01 1.7715012184 86,439.12
5 324,462.28 2.0437455256 158,758.65
VAN 86,456.95

0 -100,000.00 -100,000.00
1 41,448.86 1.25 33,159.09
2 39,926.94 1.5625 25,553.24
3 37,910.75 1.953125 19,410.31
4 35,309.13 2.44140625 14,462.62
5 202,014.47 3.0517578125 66,196.10
VAN 58,781.36
NOPAT
PERIODO 0
COK 25% INVERSION S/. -500,000.00
CPPK 0.15368 (+) EFI

0 -500,000.00 -500,000.00
1 149,200.00 1.15368 129,325.29
2 150,496.00 1.3309775424 113,071.78
3 151,804.96 1.5355221711 98,862.11
4 153,127.01 1.7715012184 86,439.12
5 324,462.28 2.0437455256 158,758.65
VAN 86,456.95

0 -100,000.00 -100,000.00
1 41,448.86 1.25 33,159.09
2 39,926.94 1.5625 25,553.24
3 37,910.75 1.953125 19,410.31
4 35,309.13 2.44140625 14,462.62
5 202,014.47 3.0517578125 66,196.10
VAN 58,781.36
NOPAT
PERIODO 0
COK 25% INVERSION S/. -500,000.00
CPPK 0.15368 (+) EFI

0 -500,000.00 -500,000.00
1 149,200.00 1.15368 129,325.29
2 150,496.00 1.3309775424 113,071.78
3 151,804.96 1.5355221711 98,862.11
4 153,127.01 1.7715012184 86,439.12
5 324,462.28 2.0437455256 158,758.65
VAN 86,456.95

0 -100,000.00 -100,000.00
1 41,448.86 1.25 33,159.09
2 39,926.94 1.5625 25,553.24
3 37,910.75 1.953125 19,410.31
4 35,309.13 2.44140625 14,462.62
5 202,014.47 3.0517578125 66,196.10
VAN 58,781.36
NOPAT
PERIODO 0
COK 25% INVERSION S/. -500,000.00
CPPK 0.15368 (+) EFI

0 -500,000.00 -500,000.00
1 149,200.00 1.15368 129,325.29
2 150,496.00 1.3309775424 113,071.78
3 151,804.96 1.5355221711 98,862.11
4 153,127.01 1.7715012184 86,439.12
5 324,462.28 2.0437455256 158,758.65
VAN 86,456.95
0 -100,000.00 -100,000.00
1 41,448.86 1.25 33,159.09
2 39,926.94 1.5625 25,553.24
3 37,910.75 1.953125 19,410.31
4 35,309.13 2.44140625 14,462.62
5 202,014.47 3.0517578125 66,196.10
VAN 58,781.36
NOPAT
N 70% A LA COMPRA DE MAQUINARIA Y EQUIPO Y LA DIFERENCIA PARA CAPITAL DE TRABAJO.
BANCO PARA SER PAGADOS EN CUOTAS FIJAS EN UN PLAZO DE 5 AÑOS A UNA TASA DE INTERÉS
A UNA COK DEL 25%, LA MAQUINARIA QUE SE COMPRA TIENE UNA VIDA ÚTIL DE 5 AÑOS,
RESA EN EL AÑO 1 ES DE S/. 1,500,000.00 Y SE ESTIMA QUE PARA LOS SIGUIENTES 4 AÑOS
A EL 85% DE LAS VENTAS.
1 2 3 4 5
S/. 1,500,000.00 S/. 1,515,000.00 S/. 1,530,150.00 S/. 1,545,451.50 S/. 1,560,906.02
S/. 1,320,000.00 S/. 1,333,200.00 S/. 1,346,532.00 S/. 1,359,997.32 S/. 1,373,597.29
S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00
S/. 110,000.00 S/. 111,800.00 S/. 113,618.00 S/. 115,454.18 S/. 117,308.72
S/. 30,800.00 S/. 31,304.00 S/. 31,813.04 S/. 32,327.17 S/. 32,846.44
S/. 79,200.00 S/. 80,496.00 S/. 81,804.96 S/. 83,127.01 S/. 84,462.28
S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00
S/. 20,000.00
S/. 150,000.00
S/. 149,200.00 S/. 150,496.00 S/. 151,804.96 S/. 153,127.01 S/. 324,462.28
S/. -127,911.14 S/. -127,911.14 S/. -127,911.14 S/. -127,911.14 S/. -127,911.14
S/. 20,160.00 S/. 17,342.08 S/. 14,016.93 S/. 10,093.26 S/. 5,463.32
S/. 41,448.86 S/. 39,926.94 S/. 37,910.75 S/. 35,309.13 S/. 202,014.47
CUOTA
S/. 127,911.14
S/. 127,911.14
S/. 127,911.14
S/. 127,911.14
S/. 127,911.14
S/. 639,555.68
nistas, los accionistas y los sostenedores de deuda.

1 2 3 4 5
S/. 1,500,000.00 S/. 1,515,000.00 S/. 1,530,150.00 S/. 1,545,451.50 S/. 1,560,906.02
S/. 1,320,000.00 S/. 1,333,200.00 S/. 1,346,532.00 S/. 1,359,997.32 S/. 1,373,597.29
S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00
S/. 110,000.00 S/. 111,800.00 S/. 113,618.00 S/. 115,454.18 S/. 117,308.72
S/. 30,800.00 S/. 31,304.00 S/. 31,813.04 S/. 32,327.17 S/. 32,846.44
S/. 79,200.00 S/. 80,496.00 S/. 81,804.96 S/. 83,127.01 S/. 84,462.28
S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00
S/. 20,000.00
S/. 150,000.00
S/. 149,200.00 S/. 150,496.00 S/. 151,804.96 S/. 153,127.01 S/. 324,462.28
S/. -127,911.14 S/. -127,911.14 S/. -127,911.14 S/. -127,911.14 S/. -127,911.14
S/. 20,160.00 S/. 17,342.08 S/. 14,016.93 S/. 10,093.26 S/. 5,463.32
S/. 41,448.86 S/. 39,926.94 S/. 37,910.75 S/. 35,309.13 S/. 202,014.47

CUOTA FIJA: S/. 127,911.14
0 S/. 400,000.00
1 S/. 344,088.86 S/. 55,911.14 S/. 72,000.00
2 S/. 278,113.72 S/. 65,975.14 S/. 61,936.00
3 S/. 200,263.06 S/. 77,850.67 S/. 50,060.47
4 S/. 108,399.27 S/. 91,863.79 S/. 36,047.35
5 S/. - S/. 108,399.27 S/. 19,511.87
TOTALES S/. 400,000.00 S/. 239,555.68

1 2 3 4 5
S/. 1,500,000.00 S/. 1,515,000.00 S/. 1,530,150.00 S/. 1,545,451.50 S/. 1,560,906.02
S/. 1,320,000.00 S/. 1,333,200.00 S/. 1,346,532.00 S/. 1,359,997.32 S/. 1,373,597.29
S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00
S/. 110,000.00 S/. 111,800.00 S/. 113,618.00 S/. 115,454.18 S/. 117,308.72
S/. 30,800.00 S/. 31,304.00 S/. 31,813.04 S/. 32,327.17 S/. 32,846.44
S/. 79,200.00 S/. 80,496.00 S/. 81,804.96 S/. 83,127.01 S/. 84,462.28
S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00
S/. 20,000.00
S/. 150,000.00
S/. 149,200.00 S/. 150,496.00 S/. 151,804.96 S/. 153,127.01 S/. 324,462.28
S/. -127,911.14 S/. -127,911.14 S/. -127,911.14 S/. -127,911.14 S/. -127,911.14
S/. 20,160.00 S/. 17,342.08 S/. 14,016.93 S/. 10,093.26 S/. 5,463.32
S/. 41,448.86 S/. 39,926.94 S/. 37,910.75 S/. 35,309.13 S/. 202,014.47

CUOTA FIJA: S/. 127,911.14
0 S/. 400,000.00
1 S/. 344,088.86 S/. 55,911.14 S/. 72,000.00
2 S/. 278,113.72 S/. 65,975.14 S/. 61,936.00
3 S/. 200,263.06 S/. 77,850.67 S/. 50,060.47
4 S/. 108,399.27 S/. 91,863.79 S/. 36,047.35
5 S/. - S/. 108,399.27 S/. 19,511.87
TOTALES S/. 400,000.00 S/. 239,555.68

1 2 3 4 5
S/. 1,500,000.00 S/. 1,515,000.00 S/. 1,530,150.00 S/. 1,545,451.50 S/. 1,560,906.02
S/. 1,320,000.00 S/. 1,333,200.00 S/. 1,346,532.00 S/. 1,359,997.32 S/. 1,373,597.29
S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00
S/. 110,000.00 S/. 111,800.00 S/. 113,618.00 S/. 115,454.18 S/. 117,308.72
S/. 30,800.00 S/. 31,304.00 S/. 31,813.04 S/. 32,327.17 S/. 32,846.44
S/. 79,200.00 S/. 80,496.00 S/. 81,804.96 S/. 83,127.01 S/. 84,462.28
S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00
S/. 20,000.00
S/. 150,000.00
S/. 149,200.00 S/. 150,496.00 S/. 151,804.96 S/. 153,127.01 S/. 324,462.28
S/. -127,911.14 S/. -127,911.14 S/. -127,911.14 S/. -127,911.14 S/. -127,911.14
S/. 20,160.00 S/. 17,342.08 S/. 14,016.93 S/. 10,093.26 S/. 5,463.32
S/. 41,448.86 S/. 39,926.94 S/. 37,910.75 S/. 35,309.13 S/. 202,014.47

CUOTA FIJA: S/. 127,911.14
0 S/. 400,000.00
1 S/. 344,088.86 S/. 55,911.14 S/. 72,000.00
2 S/. 278,113.72 S/. 65,975.14 S/. 61,936.00
3 S/. 200,263.06 S/. 77,850.67 S/. 50,060.47
4 S/. 108,399.27 S/. 91,863.79 S/. 36,047.35
5 S/. - S/. 108,399.27 S/. 19,511.87
TOTALES S/. 400,000.00 S/. 239,555.68

1 2 3 4 5
S/. 1,500,000.00 S/. 1,515,000.00 S/. 1,530,150.00 S/. 1,545,451.50 S/. 1,560,906.02
S/. 1,320,000.00 S/. 1,333,200.00 S/. 1,346,532.00 S/. 1,359,997.32 S/. 1,373,597.29
S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00
S/. 110,000.00 S/. 111,800.00 S/. 113,618.00 S/. 115,454.18 S/. 117,308.72
S/. 30,800.00 S/. 31,304.00 S/. 31,813.04 S/. 32,327.17 S/. 32,846.44
S/. 79,200.00 S/. 80,496.00 S/. 81,804.96 S/. 83,127.01 S/. 84,462.28
S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00
S/. 20,000.00
S/. 150,000.00
S/. 149,200.00 S/. 150,496.00 S/. 151,804.96 S/. 153,127.01 S/. 324,462.28
S/. -127,911.14 S/. -127,911.14 S/. -127,911.14 S/. -127,911.14 S/. -127,911.14
S/. 20,160.00 S/. 17,342.08 S/. 14,016.93 S/. 10,093.26 S/. 5,463.32
S/. 41,448.86 S/. 39,926.94 S/. 37,910.75 S/. 35,309.13 S/. 202,014.47

CUOTA FIJA: S/. 127,911.14
0 S/. 400,000.00
1 S/. 344,088.86 S/. 55,911.14 S/. 72,000.00
2 S/. 278,113.72 S/. 65,975.14 S/. 61,936.00
3 S/. 200,263.06 S/. 77,850.67 S/. 50,060.47
4 S/. 108,399.27 S/. 91,863.79 S/. 36,047.35
5 S/. - S/. 108,399.27 S/. 19,511.87
TOTALES S/. 400,000.00 S/. 239,555.68

1 2 3 4 5
S/. 1,500,000.00 S/. 1,515,000.00 S/. 1,530,150.00 S/. 1,545,451.50 S/. 1,560,906.02
S/. 1,320,000.00 S/. 1,333,200.00 S/. 1,346,532.00 S/. 1,359,997.32 S/. 1,373,597.29
S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00
S/. 110,000.00 S/. 111,800.00 S/. 113,618.00 S/. 115,454.18 S/. 117,308.72
S/. 30,800.00 S/. 31,304.00 S/. 31,813.04 S/. 32,327.17 S/. 32,846.44
S/. 79,200.00 S/. 80,496.00 S/. 81,804.96 S/. 83,127.01 S/. 84,462.28
S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00
S/. 20,000.00
S/. 150,000.00
S/. 149,200.00 S/. 150,496.00 S/. 151,804.96 S/. 153,127.01 S/. 324,462.28
S/. -127,911.14 S/. -127,911.14 S/. -127,911.14 S/. -127,911.14 S/. -127,911.14
S/. 20,160.00 S/. 17,342.08 S/. 14,016.93 S/. 10,093.26 S/. 5,463.32
S/. 41,448.86 S/. 39,926.94 S/. 37,910.75 S/. 35,309.13 S/. 202,014.47

CUOTA FIJA: S/. 127,911.14
0 S/. 400,000.00
1 S/. 344,088.86 S/. 55,911.14 S/. 72,000.00
2 S/. 278,113.72 S/. 65,975.14 S/. 61,936.00
3 S/. 200,263.06 S/. 77,850.67 S/. 50,060.47
4 S/. 108,399.27 S/. 91,863.79 S/. 36,047.35
5 S/. - S/. 108,399.27 S/. 19,511.87
TOTALES S/. 400,000.00 S/. 239,555.68

1 2 3 4 5
S/. 1,500,000.00 S/. 1,515,000.00 S/. 1,530,150.00 S/. 1,545,451.50 S/. 1,560,906.02
S/. 1,320,000.00 S/. 1,333,200.00 S/. 1,346,532.00 S/. 1,359,997.32 S/. 1,373,597.29
S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00
S/. 110,000.00 S/. 111,800.00 S/. 113,618.00 S/. 115,454.18 S/. 117,308.72
S/. 30,800.00 S/. 31,304.00 S/. 31,813.04 S/. 32,327.17 S/. 32,846.44
S/. 79,200.00 S/. 80,496.00 S/. 81,804.96 S/. 83,127.01 S/. 84,462.28
S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00
S/. 20,000.00
S/. 150,000.00
S/. 149,200.00 S/. 150,496.00 S/. 151,804.96 S/. 153,127.01 S/. 324,462.28
S/. -127,911.14 S/. -127,911.14 S/. -127,911.14 S/. -127,911.14 S/. -127,911.14
S/. 20,160.00 S/. 17,342.08 S/. 14,016.93 S/. 10,093.26 S/. 5,463.32
S/. 41,448.86 S/. 39,926.94 S/. 37,910.75 S/. 35,309.13 S/. 202,014.47

CUOTA FIJA: S/. 127,911.14
0 S/. 400,000.00
1 S/. 344,088.86 S/. 55,911.14 S/. 72,000.00
2 S/. 278,113.72 S/. 65,975.14 S/. 61,936.00
3 S/. 200,263.06 S/. 77,850.67 S/. 50,060.47
4 S/. 108,399.27 S/. 91,863.79 S/. 36,047.35
5 S/. - S/. 108,399.27 S/. 19,511.87
TOTALES S/. 400,000.00 S/. 239,555.68

1 2 3 4 5
S/. 1,500,000.00 S/. 1,515,000.00 S/. 1,530,150.00 S/. 1,545,451.50 S/. 1,560,906.02
S/. 1,320,000.00 S/. 1,333,200.00 S/. 1,346,532.00 S/. 1,359,997.32 S/. 1,373,597.29
S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00
S/. 110,000.00 S/. 111,800.00 S/. 113,618.00 S/. 115,454.18 S/. 117,308.72
S/. 30,800.00 S/. 31,304.00 S/. 31,813.04 S/. 32,327.17 S/. 32,846.44
S/. 79,200.00 S/. 80,496.00 S/. 81,804.96 S/. 83,127.01 S/. 84,462.28
S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00
S/. 20,000.00
S/. 150,000.00
S/. 149,200.00 S/. 150,496.00 S/. 151,804.96 S/. 153,127.01 S/. 324,462.28
S/. -127,911.14 S/. -127,911.14 S/. -127,911.14 S/. -127,911.14 S/. -127,911.14
S/. 20,160.00 S/. 17,342.08 S/. 14,016.93 S/. 10,093.26 S/. 5,463.32
S/. 41,448.86 S/. 39,926.94 S/. 37,910.75 S/. 35,309.13 S/. 202,014.47

CUOTA FIJA: S/. 127,911.14
0 S/. 400,000.00
1 S/. 344,088.86 S/. 55,911.14 S/. 72,000.00
2 S/. 278,113.72 S/. 65,975.14 S/. 61,936.00
3 S/. 200,263.06 S/. 77,850.67 S/. 50,060.47
4 S/. 108,399.27 S/. 91,863.79 S/. 36,047.35
5 S/. - S/. 108,399.27 S/. 19,511.87
TOTALES S/. 400,000.00 S/. 239,555.68
AR
^n-1))
CUOTA
S/. 127,911.14
S/. 127,911.14
S/. 127,911.14
S/. 127,911.14
S/. 127,911.14
S/. 639,555.68
AR
^n-1))
CUOTA
S/. 127,911.14
S/. 127,911.14
S/. 127,911.14
S/. 127,911.14
S/. 127,911.14
S/. 639,555.68
AR
^n-1))
CUOTA
S/. 127,911.14
S/. 127,911.14
S/. 127,911.14
S/. 127,911.14
S/. 127,911.14
S/. 639,555.68
AR
^n-1))
CUOTA
S/. 127,911.14
S/. 127,911.14
S/. 127,911.14
S/. 127,911.14
S/. 127,911.14
S/. 639,555.68
AR
^n-1))
CUOTA
S/. 127,911.14
S/. 127,911.14
S/. 127,911.14
S/. 127,911.14
S/. 127,911.14
S/. 639,555.68
AR
^n-1))
CUOTA
S/. 127,911.14
S/. 127,911.14
S/. 127,911.14
S/. 127,911.14
S/. 127,911.14
S/. 639,555.68
AR
^n-1))
CUOTA
S/. 127,911.14
S/. 127,911.14
S/. 127,911.14
S/. 127,911.14
S/. 127,911.14
S/. 639,555.68
UN INVERSIONISTA DESEA CONOCER LA FACTIBILIDAD DE INVERTIR S/. 500,000 QUE SE DESTINARÁN EN UN 70% A LA COMPRA
EL FINANCIAMIENTO DE LA INVERSIÓN SE PIENSA REALIZAR PIDIENDO UN PRÉSTAMO DE S/. 400,000 A UN BANCO PARA SER P
DEL 18% ANUAL, LA DIFERENCIA DE LA INVERSIÓN SE HA FINANCIADO CON APORTE DE LOS ACCIONISTAS A UNA COK DEL 25%
LA DEPRECIACIÓN ES LINEAL Y AL FINAL DE SU VIDA ÚTIL SE VENDE EN S/. 20,000. LAS VENTAS DE LA EMPRESA EN EL AÑO 1 ES
SUFRAN UN INCREMENTO EN UN 1% CON RESPECTO AL AÑO ANTERIOR. EL COSTO DE VENTAS REPRESENTA EL 85% DE LAS VE
PERIODO 0
COK 25% INVERSION S/. -500,000.00
CPPK 0.15368 (+) EFI
PERIODOS A PAGAR 4 FLUJO CAJA ACCIONISTA (FINANCIER S/. -100,000.00
DETERMINACIÓN CUOTA FIJA CON PERIODO DE GRACIA TOTAL (1 CUOTA)

CUOTA FIJA: S/. 175,460.65
0 S/. 400,000.00
1 S/. 472,000.00 S/. -72,000.00 S/. 72,000.00
2 S/. 381,499.35 S/. 90,500.65 S/. 84,960.00
3 S/. 274,708.58 S/. 106,790.77 S/. 68,669.88
4 S/. 148,695.47 S/. 126,013.11 S/. 49,447.54
5 S/. - S/. 148,695.47 S/. 26,765.18
TOTALES S/. 400,000.00 S/. 301,842.61
NOPAT
Es el beneficio neto después de impuestos, mide el beneficio de explotación hecho para todos los inversionistas, los accionistas
PERIODO 0
COK 25% INVERSION S/. -500,000.00
CPPK 0.15368 (+) EFI
FLUJO CAJA ACCIONISTA (FINANCIER S/. -100,000.00

0 -500,000.00 -500,000.00
1 149,200.00 1.15368 129,325.29
2 150,496.00 1.3309775424 113,071.78
3 151,804.96 1.5355221711 98,862.11
4 153,127.01 1.7715012184 86,439.12
5 324,462.28 2.0437455256 158,758.65
VAN 86,456.95

0 -100,000.00 -100,000.00
1 41,448.86 1.25 33,159.09
2 39,926.94 1.5625 25,553.24
3 37,910.75 1.953125 19,410.31
4 35,309.13 2.44140625 14,462.62
5 202,014.47 3.0517578125 66,196.10
VAN 58,781.36
NOPAT
PERIODO 0
COK 25% INVERSION S/. -500,000.00
CPPK 0.15368 (+) EFI
0 -500,000.00 -500,000.00
1 149,200.00 1.15368 129,325.29
2 150,496.00 1.3309775424 113,071.78
3 151,804.96 1.5355221711 98,862.11
4 153,127.01 1.7715012184 86,439.12
5 324,462.28 2.0437455256 158,758.65
VAN 86,456.95

0 -100,000.00 -100,000.00
1 41,448.86 1.25 33,159.09
2 39,926.94 1.5625 25,553.24
3 37,910.75 1.953125 19,410.31
4 35,309.13 2.44140625 14,462.62
5 202,014.47 3.0517578125 66,196.10
VAN 58,781.36
NOPAT
PERIODO 0
COK 25% INVERSION S/. -500,000.00
CPPK 0.15368 (+) EFI

0 -500,000.00 -500,000.00
1 149,200.00 1.15368 129,325.29
2 150,496.00 1.3309775424 113,071.78
3 151,804.96 1.5355221711 98,862.11
4 153,127.01 1.7715012184 86,439.12
5 324,462.28 2.0437455256 158,758.65
VAN 86,456.95

0 -100,000.00 -100,000.00
1 41,448.86 1.25 33,159.09
2 39,926.94 1.5625 25,553.24
3 37,910.75 1.953125 19,410.31
4 35,309.13 2.44140625 14,462.62
5 202,014.47 3.0517578125 66,196.10
VAN 58,781.36
NOPAT
PERIODO 0
COK 25% INVERSION S/. -500,000.00
CPPK 0.15368 (+) EFI

0 -500,000.00 -500,000.00
1 149,200.00 1.15368 129,325.29
2 150,496.00 1.3309775424 113,071.78
3 151,804.96 1.5355221711 98,862.11
4 153,127.01 1.7715012184 86,439.12
5 324,462.28 2.0437455256 158,758.65
VAN 86,456.95

0 -100,000.00 -100,000.00
1 41,448.86 1.25 33,159.09
2 39,926.94 1.5625 25,553.24
3 37,910.75 1.953125 19,410.31
4 35,309.13 2.44140625 14,462.62
5 202,014.47 3.0517578125 66,196.10
VAN 58,781.36
NOPAT
PERIODO 0
COK 25% INVERSION S/. -500,000.00
CPPK 0.15368 (+) EFI

0 -500,000.00 -500,000.00
1 149,200.00 1.15368 129,325.29
2 150,496.00 1.3309775424 113,071.78
3 151,804.96 1.5355221711 98,862.11
4 153,127.01 1.7715012184 86,439.12
5 324,462.28 2.0437455256 158,758.65
VAN 86,456.95

0 -100,000.00 -100,000.00
1 41,448.86 1.25 33,159.09
2 39,926.94 1.5625 25,553.24
3 37,910.75 1.953125 19,410.31
4 35,309.13 2.44140625 14,462.62
5 202,014.47 3.0517578125 66,196.10
VAN 58,781.36
NOPAT
PERIODO 0
COK 25% INVERSION S/. -500,000.00
CPPK 0.15368 (+) EFI

0 -500,000.00 -500,000.00
1 149,200.00 1.15368 129,325.29
2 150,496.00 1.3309775424 113,071.78
3 151,804.96 1.5355221711 98,862.11
4 153,127.01 1.7715012184 86,439.12
5 324,462.28 2.0437455256 158,758.65
VAN 86,456.95

0 -100,000.00 -100,000.00
1 41,448.86 1.25 33,159.09
2 39,926.94 1.5625 25,553.24
3 37,910.75 1.953125 19,410.31
4 35,309.13 2.44140625 14,462.62
5 202,014.47 3.0517578125 66,196.10
VAN 58,781.36
NOPAT
PERIODO 0
COK 25% INVERSION S/. -500,000.00
CPPK 0.15368 (+) EFI

0 -500,000.00 -500,000.00
1 149,200.00 1.15368 129,325.29
2 150,496.00 1.3309775424 113,071.78
3 151,804.96 1.5355221711 98,862.11
4 153,127.01 1.7715012184 86,439.12
5 324,462.28 2.0437455256 158,758.65
VAN 86,456.95

0 -100,000.00 -100,000.00
1 41,448.86 1.25 33,159.09
2 39,926.94 1.5625 25,553.24
3 37,910.75 1.953125 19,410.31
4 35,309.13 2.44140625 14,462.62
5 202,014.47 3.0517578125 66,196.10
VAN 58,781.36
NOPAT
beneficio de explotación hecho para todos los inversionistas, los accionistas y los sostenedores de deuda.
on varios ajustes) es de uso frecuente en modelos de EVA.
RÁN EN UN 70% A LA COMPRA DE MAQUINARIA Y EQUIPO Y LA DIFERENCIA PARA CAPITAL DE TRABAJO.
000 A UN BANCO PARA SER PAGADOS EN CUOTAS FIJAS EN UN PLAZO DE 5 AÑOS A UNA TASA DE INTERÉS
ONISTAS A UNA COK DEL 25%, LA MAQUINARIA QUE SE COMPRA TIENE UNA VIDA ÚTIL DE 5 AÑOS,
E LA EMPRESA EN EL AÑO 1 ES DE S/. 1,500,000.00 Y SE ESTIMA QUE PARA LOS SIGUIENTES 4 AÑOS
EPRESENTA EL 85% DE LAS VENTAS.
1 2 3 4 5
S/. 1,500,000.00 S/. 1,515,000.00 S/. 1,530,150.00 S/. 1,545,451.50 S/. 1,560,906.02
S/. 1,320,000.00 S/. 1,333,200.00 S/. 1,346,532.00 S/. 1,359,997.32 S/. 1,373,597.29
S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00
S/. 110,000.00 S/. 111,800.00 S/. 113,618.00 S/. 115,454.18 S/. 117,308.72
S/. 30,800.00 S/. 31,304.00 S/. 31,813.04 S/. 32,327.17 S/. 32,846.44
S/. 79,200.00 S/. 80,496.00 S/. 81,804.96 S/. 83,127.01 S/. 84,462.28
S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00
S/. 20,000.00
S/. 150,000.00
S/. 149,200.00 S/. 150,496.00 S/. 151,804.96 S/. 153,127.01 S/. 324,462.28
S/. - S/. -175,460.65 S/. -175,460.65 S/. -175,460.65 S/. -175,460.65

S/. 20,160.00 S/. 23,788.80 S/. 19,227.57 S/. 13,845.31 S/. 7,494.25
S/. 169,360.00 S/. -1,175.85 S/. -4,428.13 S/. -8,488.33 S/. 156,495.88
1 CUOTA)
CUOTA
S/. -
S/. 175,460.65
S/. 175,460.65
S/. 175,460.65
S/. 175,460.65
S/. 701,842.61
inversionistas, los accionistas y los sostenedores de deuda.

1 2 3 4 5
S/. 1,500,000.00 S/. 1,515,000.00 S/. 1,530,150.00 S/. 1,545,451.50 S/. 1,560,906.02
S/. 1,320,000.00 S/. 1,333,200.00 S/. 1,346,532.00 S/. 1,359,997.32 S/. 1,373,597.29
S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00
S/. 110,000.00 S/. 111,800.00 S/. 113,618.00 S/. 115,454.18 S/. 117,308.72
S/. 30,800.00 S/. 31,304.00 S/. 31,813.04 S/. 32,327.17 S/. 32,846.44
S/. 79,200.00 S/. 80,496.00 S/. 81,804.96 S/. 83,127.01 S/. 84,462.28
S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00
S/. 20,000.00
S/. 150,000.00
S/. 149,200.00 S/. 150,496.00 S/. 151,804.96 S/. 153,127.01 S/. 324,462.28
S/. -127,911.14 S/. -127,911.14 S/. -127,911.14 S/. -127,911.14 S/. -127,911.14
S/. 20,160.00 S/. 17,342.08 S/. 14,016.93 S/. 10,093.26 S/. 5,463.32
S/. 41,448.86 S/. 39,926.94 S/. 37,910.75 S/. 35,309.13 S/. 202,014.47

CUOTA FIJA: S/. 127,911.14
0 S/. 400,000.00
1 S/. 344,088.86 S/. 55,911.14 S/. 72,000.00
2 S/. 278,113.72 S/. 65,975.14 S/. 61,936.00
3 S/. 200,263.06 S/. 77,850.67 S/. 50,060.47
4 S/. 108,399.27 S/. 91,863.79 S/. 36,047.35
5 S/. - S/. 108,399.27 S/. 19,511.87
TOTALES S/. 400,000.00 S/. 239,555.68

1 2 3 4 5
S/. 1,500,000.00 S/. 1,515,000.00 S/. 1,530,150.00 S/. 1,545,451.50 S/. 1,560,906.02
S/. 1,320,000.00 S/. 1,333,200.00 S/. 1,346,532.00 S/. 1,359,997.32 S/. 1,373,597.29
S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00
S/. 110,000.00 S/. 111,800.00 S/. 113,618.00 S/. 115,454.18 S/. 117,308.72
S/. 30,800.00 S/. 31,304.00 S/. 31,813.04 S/. 32,327.17 S/. 32,846.44
S/. 79,200.00 S/. 80,496.00 S/. 81,804.96 S/. 83,127.01 S/. 84,462.28
S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00
S/. 20,000.00
S/. 150,000.00
S/. 149,200.00 S/. 150,496.00 S/. 151,804.96 S/. 153,127.01 S/. 324,462.28
S/. -127,911.14 S/. -127,911.14 S/. -127,911.14 S/. -127,911.14 S/. -127,911.14
S/. 20,160.00 S/. 17,342.08 S/. 14,016.93 S/. 10,093.26 S/. 5,463.32
S/. 41,448.86 S/. 39,926.94 S/. 37,910.75 S/. 35,309.13 S/. 202,014.47
CUOTA FIJA: S/. 127,911.14
0 S/. 400,000.00
1 S/. 344,088.86 S/. 55,911.14 S/. 72,000.00
2 S/. 278,113.72 S/. 65,975.14 S/. 61,936.00
3 S/. 200,263.06 S/. 77,850.67 S/. 50,060.47
4 S/. 108,399.27 S/. 91,863.79 S/. 36,047.35
5 S/. - S/. 108,399.27 S/. 19,511.87
TOTALES S/. 400,000.00 S/. 239,555.68

1 2 3 4 5
S/. 1,500,000.00 S/. 1,515,000.00 S/. 1,530,150.00 S/. 1,545,451.50 S/. 1,560,906.02
S/. 1,320,000.00 S/. 1,333,200.00 S/. 1,346,532.00 S/. 1,359,997.32 S/. 1,373,597.29
S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00
S/. 110,000.00 S/. 111,800.00 S/. 113,618.00 S/. 115,454.18 S/. 117,308.72
S/. 30,800.00 S/. 31,304.00 S/. 31,813.04 S/. 32,327.17 S/. 32,846.44
S/. 79,200.00 S/. 80,496.00 S/. 81,804.96 S/. 83,127.01 S/. 84,462.28
S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00
S/. 20,000.00
S/. 150,000.00
S/. 149,200.00 S/. 150,496.00 S/. 151,804.96 S/. 153,127.01 S/. 324,462.28
S/. -127,911.14 S/. -127,911.14 S/. -127,911.14 S/. -127,911.14 S/. -127,911.14
S/. 20,160.00 S/. 17,342.08 S/. 14,016.93 S/. 10,093.26 S/. 5,463.32
S/. 41,448.86 S/. 39,926.94 S/. 37,910.75 S/. 35,309.13 S/. 202,014.47

CUOTA FIJA: S/. 127,911.14
0 S/. 400,000.00
1 S/. 344,088.86 S/. 55,911.14 S/. 72,000.00
2 S/. 278,113.72 S/. 65,975.14 S/. 61,936.00
3 S/. 200,263.06 S/. 77,850.67 S/. 50,060.47
4 S/. 108,399.27 S/. 91,863.79 S/. 36,047.35
5 S/. - S/. 108,399.27 S/. 19,511.87
TOTALES S/. 400,000.00 S/. 239,555.68

1 2 3 4 5
S/. 1,500,000.00 S/. 1,515,000.00 S/. 1,530,150.00 S/. 1,545,451.50 S/. 1,560,906.02
S/. 1,320,000.00 S/. 1,333,200.00 S/. 1,346,532.00 S/. 1,359,997.32 S/. 1,373,597.29
S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00
S/. 110,000.00 S/. 111,800.00 S/. 113,618.00 S/. 115,454.18 S/. 117,308.72
S/. 30,800.00 S/. 31,304.00 S/. 31,813.04 S/. 32,327.17 S/. 32,846.44
S/. 79,200.00 S/. 80,496.00 S/. 81,804.96 S/. 83,127.01 S/. 84,462.28
S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00
S/. 20,000.00
S/. 150,000.00
S/. 149,200.00 S/. 150,496.00 S/. 151,804.96 S/. 153,127.01 S/. 324,462.28
S/. -127,911.14 S/. -127,911.14 S/. -127,911.14 S/. -127,911.14 S/. -127,911.14
S/. 20,160.00 S/. 17,342.08 S/. 14,016.93 S/. 10,093.26 S/. 5,463.32
S/. 41,448.86 S/. 39,926.94 S/. 37,910.75 S/. 35,309.13 S/. 202,014.47

CUOTA FIJA: S/. 127,911.14
0 S/. 400,000.00
1 S/. 344,088.86 S/. 55,911.14 S/. 72,000.00
2 S/. 278,113.72 S/. 65,975.14 S/. 61,936.00
3 S/. 200,263.06 S/. 77,850.67 S/. 50,060.47
4 S/. 108,399.27 S/. 91,863.79 S/. 36,047.35
5 S/. - S/. 108,399.27 S/. 19,511.87
TOTALES S/. 400,000.00 S/. 239,555.68

1 2 3 4 5
S/. 1,500,000.00 S/. 1,515,000.00 S/. 1,530,150.00 S/. 1,545,451.50 S/. 1,560,906.02
S/. 1,320,000.00 S/. 1,333,200.00 S/. 1,346,532.00 S/. 1,359,997.32 S/. 1,373,597.29
S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00
S/. 110,000.00 S/. 111,800.00 S/. 113,618.00 S/. 115,454.18 S/. 117,308.72
S/. 30,800.00 S/. 31,304.00 S/. 31,813.04 S/. 32,327.17 S/. 32,846.44
S/. 79,200.00 S/. 80,496.00 S/. 81,804.96 S/. 83,127.01 S/. 84,462.28
S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00
S/. 20,000.00
S/. 150,000.00
S/. 149,200.00 S/. 150,496.00 S/. 151,804.96 S/. 153,127.01 S/. 324,462.28
S/. -127,911.14 S/. -127,911.14 S/. -127,911.14 S/. -127,911.14 S/. -127,911.14
S/. 20,160.00 S/. 17,342.08 S/. 14,016.93 S/. 10,093.26 S/. 5,463.32
S/. 41,448.86 S/. 39,926.94 S/. 37,910.75 S/. 35,309.13 S/. 202,014.47

CUOTA FIJA: S/. 127,911.14
0 S/. 400,000.00
1 S/. 344,088.86 S/. 55,911.14 S/. 72,000.00
2 S/. 278,113.72 S/. 65,975.14 S/. 61,936.00
3 S/. 200,263.06 S/. 77,850.67 S/. 50,060.47
4 S/. 108,399.27 S/. 91,863.79 S/. 36,047.35
5 S/. - S/. 108,399.27 S/. 19,511.87
TOTALES S/. 400,000.00 S/. 239,555.68

1 2 3 4 5
S/. 1,500,000.00 S/. 1,515,000.00 S/. 1,530,150.00 S/. 1,545,451.50 S/. 1,560,906.02
S/. 1,320,000.00 S/. 1,333,200.00 S/. 1,346,532.00 S/. 1,359,997.32 S/. 1,373,597.29
S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00
S/. 110,000.00 S/. 111,800.00 S/. 113,618.00 S/. 115,454.18 S/. 117,308.72
S/. 30,800.00 S/. 31,304.00 S/. 31,813.04 S/. 32,327.17 S/. 32,846.44
S/. 79,200.00 S/. 80,496.00 S/. 81,804.96 S/. 83,127.01 S/. 84,462.28
S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00
S/. 20,000.00
S/. 150,000.00
S/. 149,200.00 S/. 150,496.00 S/. 151,804.96 S/. 153,127.01 S/. 324,462.28
S/. -127,911.14 S/. -127,911.14 S/. -127,911.14 S/. -127,911.14 S/. -127,911.14
S/. 20,160.00 S/. 17,342.08 S/. 14,016.93 S/. 10,093.26 S/. 5,463.32
S/. 41,448.86 S/. 39,926.94 S/. 37,910.75 S/. 35,309.13 S/. 202,014.47

CUOTA FIJA: S/. 127,911.14
0 S/. 400,000.00
1 S/. 344,088.86 S/. 55,911.14 S/. 72,000.00
2 S/. 278,113.72 S/. 65,975.14 S/. 61,936.00
3 S/. 200,263.06 S/. 77,850.67 S/. 50,060.47
4 S/. 108,399.27 S/. 91,863.79 S/. 36,047.35
5 S/. - S/. 108,399.27 S/. 19,511.87
TOTALES S/. 400,000.00 S/. 239,555.68

1 2 3 4 5
S/. 1,500,000.00 S/. 1,515,000.00 S/. 1,530,150.00 S/. 1,545,451.50 S/. 1,560,906.02
S/. 1,320,000.00 S/. 1,333,200.00 S/. 1,346,532.00 S/. 1,359,997.32 S/. 1,373,597.29
S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00
S/. 110,000.00 S/. 111,800.00 S/. 113,618.00 S/. 115,454.18 S/. 117,308.72
S/. 30,800.00 S/. 31,304.00 S/. 31,813.04 S/. 32,327.17 S/. 32,846.44
S/. 79,200.00 S/. 80,496.00 S/. 81,804.96 S/. 83,127.01 S/. 84,462.28
S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00
S/. 20,000.00
S/. 150,000.00
S/. 149,200.00 S/. 150,496.00 S/. 151,804.96 S/. 153,127.01 S/. 324,462.28
S/. -127,911.14 S/. -127,911.14 S/. -127,911.14 S/. -127,911.14 S/. -127,911.14
S/. 20,160.00 S/. 17,342.08 S/. 14,016.93 S/. 10,093.26 S/. 5,463.32
S/. 41,448.86 S/. 39,926.94 S/. 37,910.75 S/. 35,309.13 S/. 202,014.47

CUOTA FIJA: S/. 127,911.14
0 S/. 400,000.00
1 S/. 344,088.86 S/. 55,911.14 S/. 72,000.00
2 S/. 278,113.72 S/. 65,975.14 S/. 61,936.00
3 S/. 200,263.06 S/. 77,850.67 S/. 50,060.47
4 S/. 108,399.27 S/. 91,863.79 S/. 36,047.35
5 S/. - S/. 108,399.27 S/. 19,511.87
TOTALES S/. 400,000.00 S/. 239,555.68
PAGAR
+i)^n-1))
CUOTA
S/. 127,911.14
S/. 127,911.14
S/. 127,911.14
S/. 127,911.14
S/. 127,911.14
S/. 639,555.68
PAGAR
+i)^n-1))
CUOTA
S/. 127,911.14
S/. 127,911.14
S/. 127,911.14
S/. 127,911.14
S/. 127,911.14
S/. 639,555.68
PAGAR
+i)^n-1))
CUOTA
S/. 127,911.14
S/. 127,911.14
S/. 127,911.14
S/. 127,911.14
S/. 127,911.14
S/. 639,555.68
PAGAR
+i)^n-1))
CUOTA
S/. 127,911.14
S/. 127,911.14
S/. 127,911.14
S/. 127,911.14
S/. 127,911.14
S/. 639,555.68
PAGAR
+i)^n-1))
CUOTA
S/. 127,911.14
S/. 127,911.14
S/. 127,911.14
S/. 127,911.14
S/. 127,911.14
S/. 639,555.68
PAGAR
+i)^n-1))
CUOTA
S/. 127,911.14
S/. 127,911.14
S/. 127,911.14
S/. 127,911.14
S/. 127,911.14
S/. 639,555.68
PAGAR
+i)^n-1))
CUOTA
S/. 127,911.14
S/. 127,911.14
S/. 127,911.14
S/. 127,911.14
S/. 127,911.14
S/. 639,555.68
PERIODO 0
COK 25% INVERSION S/. -500,000.00
CPPK 0.15368 (+) EFI
PERIODOS A PAGAR 4 FLUJO CAJA ACCIONISTA (FINANCIER S/. -100,000.00

CUOTA FIJA: S/. 148,695.47
0 S/. 400,000.00
1 S/. 400,000.00 S/. - S/. 72,000.00
2 S/. 323,304.53 S/. 76,695.47 S/. 72,000.00
3 S/. 232,803.88 S/. 90,500.65 S/. 58,194.82
4 S/. 126,013.11 S/. 106,790.77 S/. 41,904.70
5 S/. - S/. 126,013.11 S/. 22,682.36
TOTALES S/. 400,000.00 S/. 266,781.87
NOPAT
PERIODO 0
COK 25% INVERSION S/. -500,000.00
CPPK 0.15368 (+) EFI

0 -500,000.00 -500,000.00
1 149,200.00 1.15368 129,325.29
2 150,496.00 1.3309775424 113,071.78
3 151,804.96 1.5355221711 98,862.11
4 153,127.01 1.7715012184 86,439.12
5 324,462.28 2.0437455256 158,758.65
VAN 86,456.95

0 -100,000.00 -100,000.00
1 41,448.86 1.25 33,159.09
2 39,926.94 1.5625 25,553.24
3 37,910.75 1.953125 19,410.31
4 35,309.13 2.44140625 14,462.62
5 202,014.47 3.0517578125 66,196.10
VAN 58,781.36
NOPAT
PERIODO 0
COK 25% INVERSION S/. -500,000.00
CPPK 0.15368 (+) EFI
0 -500,000.00 -500,000.00
1 149,200.00 1.15368 129,325.29
2 150,496.00 1.3309775424 113,071.78
3 151,804.96 1.5355221711 98,862.11
4 153,127.01 1.7715012184 86,439.12
5 324,462.28 2.0437455256 158,758.65
VAN 86,456.95

0 -100,000.00 -100,000.00
1 41,448.86 1.25 33,159.09
2 39,926.94 1.5625 25,553.24
3 37,910.75 1.953125 19,410.31
4 35,309.13 2.44140625 14,462.62
5 202,014.47 3.0517578125 66,196.10
VAN 58,781.36
NOPAT
PERIODO 0
COK 25% INVERSION S/. -500,000.00
CPPK 0.15368 (+) EFI

0 -500,000.00 -500,000.00
1 149,200.00 1.15368 129,325.29
2 150,496.00 1.3309775424 113,071.78
3 151,804.96 1.5355221711 98,862.11
4 153,127.01 1.7715012184 86,439.12
5 324,462.28 2.0437455256 158,758.65
VAN 86,456.95

0 -100,000.00 -100,000.00
1 41,448.86 1.25 33,159.09
2 39,926.94 1.5625 25,553.24
3 37,910.75 1.953125 19,410.31
4 35,309.13 2.44140625 14,462.62
5 202,014.47 3.0517578125 66,196.10
VAN 58,781.36
NOPAT
PERIODO 0
COK 25% INVERSION S/. -500,000.00
CPPK 0.15368 (+) EFI

0 -500,000.00 -500,000.00
1 149,200.00 1.15368 129,325.29
2 150,496.00 1.3309775424 113,071.78
3 151,804.96 1.5355221711 98,862.11
4 153,127.01 1.7715012184 86,439.12
5 324,462.28 2.0437455256 158,758.65
VAN 86,456.95

0 -100,000.00 -100,000.00
1 41,448.86 1.25 33,159.09
2 39,926.94 1.5625 25,553.24
3 37,910.75 1.953125 19,410.31
4 35,309.13 2.44140625 14,462.62
5 202,014.47 3.0517578125 66,196.10
VAN 58,781.36
NOPAT
PERIODO 0
COK 25% INVERSION S/. -500,000.00
CPPK 0.15368 (+) EFI

0 -500,000.00 -500,000.00
1 149,200.00 1.15368 129,325.29
2 150,496.00 1.3309775424 113,071.78
3 151,804.96 1.5355221711 98,862.11
4 153,127.01 1.7715012184 86,439.12
5 324,462.28 2.0437455256 158,758.65
VAN 86,456.95

0 -100,000.00 -100,000.00
1 41,448.86 1.25 33,159.09
2 39,926.94 1.5625 25,553.24
3 37,910.75 1.953125 19,410.31
4 35,309.13 2.44140625 14,462.62
5 202,014.47 3.0517578125 66,196.10
VAN 58,781.36
NOPAT
PERIODO 0
COK 25% INVERSION S/. -500,000.00
CPPK 0.15368 (+) EFI

0 -500,000.00 -500,000.00
1 149,200.00 1.15368 129,325.29
2 150,496.00 1.3309775424 113,071.78
3 151,804.96 1.5355221711 98,862.11
4 153,127.01 1.7715012184 86,439.12
5 324,462.28 2.0437455256 158,758.65
VAN 86,456.95

0 -100,000.00 -100,000.00
1 41,448.86 1.25 33,159.09
2 39,926.94 1.5625 25,553.24
3 37,910.75 1.953125 19,410.31
4 35,309.13 2.44140625 14,462.62
5 202,014.47 3.0517578125 66,196.10
VAN 58,781.36
NOPAT
PERIODO 0
COK 25% INVERSION S/. -500,000.00
CPPK 0.15368 (+) EFI

0 -500,000.00 -500,000.00
1 149,200.00 1.15368 129,325.29
2 150,496.00 1.3309775424 113,071.78
3 151,804.96 1.5355221711 98,862.11
4 153,127.01 1.7715012184 86,439.12
5 324,462.28 2.0437455256 158,758.65
VAN 86,456.95

0 -100,000.00 -100,000.00
1 41,448.86 1.25 33,159.09
2 39,926.94 1.5625 25,553.24
3 37,910.75 1.953125 19,410.31
4 35,309.13 2.44140625 14,462.62
5 202,014.47 3.0517578125 66,196.10
VAN 58,781.36
NOPAT
beneficio de explotación hecho para todos los inversionistas, los accionistas y los sostenedores de deuda.
on varios ajustes) es de uso frecuente en modelos de EVA.
1 2 3 4 5
S/. 1,500,000.00 S/. 1,515,000.00 S/. 1,530,150.00 S/. 1,545,451.50 S/. 1,560,906.02
S/. 1,320,000.00 S/. 1,333,200.00 S/. 1,346,532.00 S/. 1,359,997.32 S/. 1,373,597.29
S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00
S/. 110,000.00 S/. 111,800.00 S/. 113,618.00 S/. 115,454.18 S/. 117,308.72
S/. 30,800.00 S/. 31,304.00 S/. 31,813.04 S/. 32,327.17 S/. 32,846.44
S/. 79,200.00 S/. 80,496.00 S/. 81,804.96 S/. 83,127.01 S/. 84,462.28
S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00
S/. 20,000.00
S/. 150,000.00
S/. 149,200.00 S/. 150,496.00 S/. 151,804.96 S/. 153,127.01 S/. 324,462.28
S/. -72,000.00 S/. -148,695.47 S/. -148,695.47 S/. -148,695.47 S/. -148,695.47
S/. 20,160.00 S/. 20,160.00 S/. 16,294.55 S/. 11,733.32 S/. 6,351.06
S/. 97,360.00 S/. 21,960.53 S/. 19,404.04 S/. 16,164.86 S/. 182,117.87
CUOTA
S/. 72,000.00
S/. 148,695.47
S/. 148,695.47
S/. 148,695.47
S/. 148,695.47
S/. 666,781.87

1 2 3 4 5
S/. 1,500,000.00 S/. 1,515,000.00 S/. 1,530,150.00 S/. 1,545,451.50 S/. 1,560,906.02
S/. 1,320,000.00 S/. 1,333,200.00 S/. 1,346,532.00 S/. 1,359,997.32 S/. 1,373,597.29
S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00
S/. 110,000.00 S/. 111,800.00 S/. 113,618.00 S/. 115,454.18 S/. 117,308.72
S/. 30,800.00 S/. 31,304.00 S/. 31,813.04 S/. 32,327.17 S/. 32,846.44
S/. 79,200.00 S/. 80,496.00 S/. 81,804.96 S/. 83,127.01 S/. 84,462.28
S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00
S/. 20,000.00
S/. 150,000.00
S/. 149,200.00 S/. 150,496.00 S/. 151,804.96 S/. 153,127.01 S/. 324,462.28
S/. -127,911.14 S/. -127,911.14 S/. -127,911.14 S/. -127,911.14 S/. -127,911.14
S/. 20,160.00 S/. 17,342.08 S/. 14,016.93 S/. 10,093.26 S/. 5,463.32
S/. 41,448.86 S/. 39,926.94 S/. 37,910.75 S/. 35,309.13 S/. 202,014.47

CUOTA FIJA: S/. 127,911.14
0 S/. 400,000.00
1 S/. 344,088.86 S/. 55,911.14 S/. 72,000.00
2 S/. 278,113.72 S/. 65,975.14 S/. 61,936.00
3 S/. 200,263.06 S/. 77,850.67 S/. 50,060.47
4 S/. 108,399.27 S/. 91,863.79 S/. 36,047.35
5 S/. - S/. 108,399.27 S/. 19,511.87
TOTALES S/. 400,000.00 S/. 239,555.68

1 2 3 4 5
S/. 1,500,000.00 S/. 1,515,000.00 S/. 1,530,150.00 S/. 1,545,451.50 S/. 1,560,906.02
S/. 1,320,000.00 S/. 1,333,200.00 S/. 1,346,532.00 S/. 1,359,997.32 S/. 1,373,597.29
S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00
S/. 110,000.00 S/. 111,800.00 S/. 113,618.00 S/. 115,454.18 S/. 117,308.72
S/. 30,800.00 S/. 31,304.00 S/. 31,813.04 S/. 32,327.17 S/. 32,846.44
S/. 79,200.00 S/. 80,496.00 S/. 81,804.96 S/. 83,127.01 S/. 84,462.28
S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00
S/. 20,000.00
S/. 150,000.00
S/. 149,200.00 S/. 150,496.00 S/. 151,804.96 S/. 153,127.01 S/. 324,462.28
S/. -127,911.14 S/. -127,911.14 S/. -127,911.14 S/. -127,911.14 S/. -127,911.14
S/. 20,160.00 S/. 17,342.08 S/. 14,016.93 S/. 10,093.26 S/. 5,463.32
S/. 41,448.86 S/. 39,926.94 S/. 37,910.75 S/. 35,309.13 S/. 202,014.47
CUOTA FIJA: S/. 127,911.14
0 S/. 400,000.00
1 S/. 344,088.86 S/. 55,911.14 S/. 72,000.00
2 S/. 278,113.72 S/. 65,975.14 S/. 61,936.00
3 S/. 200,263.06 S/. 77,850.67 S/. 50,060.47
4 S/. 108,399.27 S/. 91,863.79 S/. 36,047.35
5 S/. - S/. 108,399.27 S/. 19,511.87
TOTALES S/. 400,000.00 S/. 239,555.68

1 2 3 4 5
S/. 1,500,000.00 S/. 1,515,000.00 S/. 1,530,150.00 S/. 1,545,451.50 S/. 1,560,906.02
S/. 1,320,000.00 S/. 1,333,200.00 S/. 1,346,532.00 S/. 1,359,997.32 S/. 1,373,597.29
S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00
S/. 110,000.00 S/. 111,800.00 S/. 113,618.00 S/. 115,454.18 S/. 117,308.72
S/. 30,800.00 S/. 31,304.00 S/. 31,813.04 S/. 32,327.17 S/. 32,846.44
S/. 79,200.00 S/. 80,496.00 S/. 81,804.96 S/. 83,127.01 S/. 84,462.28
S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00
S/. 20,000.00
S/. 150,000.00
S/. 149,200.00 S/. 150,496.00 S/. 151,804.96 S/. 153,127.01 S/. 324,462.28
S/. -127,911.14 S/. -127,911.14 S/. -127,911.14 S/. -127,911.14 S/. -127,911.14
S/. 20,160.00 S/. 17,342.08 S/. 14,016.93 S/. 10,093.26 S/. 5,463.32
S/. 41,448.86 S/. 39,926.94 S/. 37,910.75 S/. 35,309.13 S/. 202,014.47

CUOTA FIJA: S/. 127,911.14
0 S/. 400,000.00
1 S/. 344,088.86 S/. 55,911.14 S/. 72,000.00
2 S/. 278,113.72 S/. 65,975.14 S/. 61,936.00
3 S/. 200,263.06 S/. 77,850.67 S/. 50,060.47
4 S/. 108,399.27 S/. 91,863.79 S/. 36,047.35
5 S/. - S/. 108,399.27 S/. 19,511.87
TOTALES S/. 400,000.00 S/. 239,555.68

1 2 3 4 5
S/. 1,500,000.00 S/. 1,515,000.00 S/. 1,530,150.00 S/. 1,545,451.50 S/. 1,560,906.02
S/. 1,320,000.00 S/. 1,333,200.00 S/. 1,346,532.00 S/. 1,359,997.32 S/. 1,373,597.29
S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00
S/. 110,000.00 S/. 111,800.00 S/. 113,618.00 S/. 115,454.18 S/. 117,308.72
S/. 30,800.00 S/. 31,304.00 S/. 31,813.04 S/. 32,327.17 S/. 32,846.44
S/. 79,200.00 S/. 80,496.00 S/. 81,804.96 S/. 83,127.01 S/. 84,462.28
S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00
S/. 20,000.00
S/. 150,000.00
S/. 149,200.00 S/. 150,496.00 S/. 151,804.96 S/. 153,127.01 S/. 324,462.28
S/. -127,911.14 S/. -127,911.14 S/. -127,911.14 S/. -127,911.14 S/. -127,911.14
S/. 20,160.00 S/. 17,342.08 S/. 14,016.93 S/. 10,093.26 S/. 5,463.32
S/. 41,448.86 S/. 39,926.94 S/. 37,910.75 S/. 35,309.13 S/. 202,014.47

CUOTA FIJA: S/. 127,911.14
0 S/. 400,000.00
1 S/. 344,088.86 S/. 55,911.14 S/. 72,000.00
2 S/. 278,113.72 S/. 65,975.14 S/. 61,936.00
3 S/. 200,263.06 S/. 77,850.67 S/. 50,060.47
4 S/. 108,399.27 S/. 91,863.79 S/. 36,047.35
5 S/. - S/. 108,399.27 S/. 19,511.87
TOTALES S/. 400,000.00 S/. 239,555.68

1 2 3 4 5
S/. 1,500,000.00 S/. 1,515,000.00 S/. 1,530,150.00 S/. 1,545,451.50 S/. 1,560,906.02
S/. 1,320,000.00 S/. 1,333,200.00 S/. 1,346,532.00 S/. 1,359,997.32 S/. 1,373,597.29
S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00
S/. 110,000.00 S/. 111,800.00 S/. 113,618.00 S/. 115,454.18 S/. 117,308.72
S/. 30,800.00 S/. 31,304.00 S/. 31,813.04 S/. 32,327.17 S/. 32,846.44
S/. 79,200.00 S/. 80,496.00 S/. 81,804.96 S/. 83,127.01 S/. 84,462.28
S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00
S/. 20,000.00
S/. 150,000.00
S/. 149,200.00 S/. 150,496.00 S/. 151,804.96 S/. 153,127.01 S/. 324,462.28
S/. -127,911.14 S/. -127,911.14 S/. -127,911.14 S/. -127,911.14 S/. -127,911.14
S/. 20,160.00 S/. 17,342.08 S/. 14,016.93 S/. 10,093.26 S/. 5,463.32
S/. 41,448.86 S/. 39,926.94 S/. 37,910.75 S/. 35,309.13 S/. 202,014.47

CUOTA FIJA: S/. 127,911.14
0 S/. 400,000.00
1 S/. 344,088.86 S/. 55,911.14 S/. 72,000.00
2 S/. 278,113.72 S/. 65,975.14 S/. 61,936.00
3 S/. 200,263.06 S/. 77,850.67 S/. 50,060.47
4 S/. 108,399.27 S/. 91,863.79 S/. 36,047.35
5 S/. - S/. 108,399.27 S/. 19,511.87
TOTALES S/. 400,000.00 S/. 239,555.68

1 2 3 4 5
S/. 1,500,000.00 S/. 1,515,000.00 S/. 1,530,150.00 S/. 1,545,451.50 S/. 1,560,906.02
S/. 1,320,000.00 S/. 1,333,200.00 S/. 1,346,532.00 S/. 1,359,997.32 S/. 1,373,597.29
S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00
S/. 110,000.00 S/. 111,800.00 S/. 113,618.00 S/. 115,454.18 S/. 117,308.72
S/. 30,800.00 S/. 31,304.00 S/. 31,813.04 S/. 32,327.17 S/. 32,846.44
S/. 79,200.00 S/. 80,496.00 S/. 81,804.96 S/. 83,127.01 S/. 84,462.28
S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00
S/. 20,000.00
S/. 150,000.00
S/. 149,200.00 S/. 150,496.00 S/. 151,804.96 S/. 153,127.01 S/. 324,462.28
S/. -127,911.14 S/. -127,911.14 S/. -127,911.14 S/. -127,911.14 S/. -127,911.14
S/. 20,160.00 S/. 17,342.08 S/. 14,016.93 S/. 10,093.26 S/. 5,463.32
S/. 41,448.86 S/. 39,926.94 S/. 37,910.75 S/. 35,309.13 S/. 202,014.47

CUOTA FIJA: S/. 127,911.14
0 S/. 400,000.00
1 S/. 344,088.86 S/. 55,911.14 S/. 72,000.00
2 S/. 278,113.72 S/. 65,975.14 S/. 61,936.00
3 S/. 200,263.06 S/. 77,850.67 S/. 50,060.47
4 S/. 108,399.27 S/. 91,863.79 S/. 36,047.35
5 S/. - S/. 108,399.27 S/. 19,511.87
TOTALES S/. 400,000.00 S/. 239,555.68

1 2 3 4 5
S/. 1,500,000.00 S/. 1,515,000.00 S/. 1,530,150.00 S/. 1,545,451.50 S/. 1,560,906.02
S/. 1,320,000.00 S/. 1,333,200.00 S/. 1,346,532.00 S/. 1,359,997.32 S/. 1,373,597.29
S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00
S/. 110,000.00 S/. 111,800.00 S/. 113,618.00 S/. 115,454.18 S/. 117,308.72
S/. 30,800.00 S/. 31,304.00 S/. 31,813.04 S/. 32,327.17 S/. 32,846.44
S/. 79,200.00 S/. 80,496.00 S/. 81,804.96 S/. 83,127.01 S/. 84,462.28
S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00 S/. 70,000.00
S/. 20,000.00
S/. 150,000.00
S/. 149,200.00 S/. 150,496.00 S/. 151,804.96 S/. 153,127.01 S/. 324,462.28
S/. -127,911.14 S/. -127,911.14 S/. -127,911.14 S/. -127,911.14 S/. -127,911.14
S/. 20,160.00 S/. 17,342.08 S/. 14,016.93 S/. 10,093.26 S/. 5,463.32
S/. 41,448.86 S/. 39,926.94 S/. 37,910.75 S/. 35,309.13 S/. 202,014.47

CUOTA FIJA: S/. 127,911.14
0 S/. 400,000.00
1 S/. 344,088.86 S/. 55,911.14 S/. 72,000.00
2 S/. 278,113.72 S/. 65,975.14 S/. 61,936.00
3 S/. 200,263.06 S/. 77,850.67 S/. 50,060.47
4 S/. 108,399.27 S/. 91,863.79 S/. 36,047.35
5 S/. - S/. 108,399.27 S/. 19,511.87
TOTALES S/. 400,000.00 S/. 239,555.68
PAGAR
+i)^n-1))
CUOTA
S/. 127,911.14
S/. 127,911.14
S/. 127,911.14
S/. 127,911.14
S/. 127,911.14
S/. 639,555.68
PAGAR
+i)^n-1))
CUOTA
S/. 127,911.14
S/. 127,911.14
S/. 127,911.14
S/. 127,911.14
S/. 127,911.14
S/. 639,555.68
PAGAR
+i)^n-1))
CUOTA
S/. 127,911.14
S/. 127,911.14
S/. 127,911.14
S/. 127,911.14
S/. 127,911.14
S/. 639,555.68
PAGAR
+i)^n-1))
CUOTA
S/. 127,911.14
S/. 127,911.14
S/. 127,911.14
S/. 127,911.14
S/. 127,911.14
S/. 639,555.68
PAGAR
+i)^n-1))
CUOTA
S/. 127,911.14
S/. 127,911.14
S/. 127,911.14
S/. 127,911.14
S/. 127,911.14
S/. 639,555.68
PAGAR
+i)^n-1))
CUOTA
S/. 127,911.14
S/. 127,911.14
S/. 127,911.14
S/. 127,911.14
S/. 127,911.14
S/. 639,555.68
PAGAR
+i)^n-1))
CUOTA
S/. 127,911.14
S/. 127,911.14
S/. 127,911.14
S/. 127,911.14
S/. 127,911.14
S/. 639,555.68
EL FINANCIAMIENTO DE LA INVERSIÓN SE PIENSA REALIZAR PIDIENDO UN PRÉSTAMO DE S/. 80,000 A UN BANCO PARA SER PA
LA DEPRECIACIÓN ES LINEAL Y AL FINAL DE SU VIDA ÚTIL SE VENDE EN S/. 10,000. LAS VENTAS DE LA EMPRESA PARA TODOS LO
EL COSTO DE VENTA UNITARIO ES DE S/. 25.00 Y EL COSTO FIJO TOTAL DE CADA AÑO ES DE S/. 5,000.00
PERIODO 0
UNIDADES VENDIDAS 15,000.00 VENTAS
PRECIO VENTA UNITARIO 30.00 CV TOTAL
COSTO VENTA UNITARIO 25.00 COSTO FIJO
COSTO FIJO TOTAL 5,000.00 DEPRECIACION
INVERSION 100,000.00 U BRUTA
ACTIVO FIJO 70,000.00 I. RENTA
CAPITAL TRABAJO 30,000.00 NOPAT
DEUDA 80,000.00 DEPRECIACION
CAPITAL PROPIO 20,000.00 VTA. ACT. FIJO
COK 15% INVERSION -100,000.00
VIDA UTIL 5 ACTIVO FIJO -70,000.00
DEPRECIACION EN 5 AÑOS 14,000.00 CAPITAL DE TRABAJO -30,000.00
SE VENDE ACT. FIJO 10,000.00 FLUJO CAJA LIBRE (ECONOMICO) -100,000.00
I. RENTA 28% (+) PRESTAMO 80,000.00
CPPK 0.0876 (+) EFI
FLUJO CAJA ACCIONISTA (FINANCIERO) -20,000.00
DETERMINACIÓN CUOTA FIJA

21103.7984635796
0 S/. 80,000.00
1 S/. 66,896.20 S/. 13,103.80 S/. 8,000.00
2 S/. 52,482.02 S/. 14,414.18 S/. 6,689.62
3 S/. 36,626.43 S/. 15,855.60 S/. 5,248.20
4 S/. 19,185.27 S/. 17,441.16 S/. 3,662.64
5 S/. 0.00 S/. 19,185.27 S/. 1,918.53
TOTALES S/. 80,000.00 S/. 25,518.99
DETERMINACIÓN CUOTA FIJA PERIODO DE GRACIA TOTAL (1 MES)

23214.1783099376
0 S/. 80,000.00
1 S/. 88,000.00 S/. -8,000.00 S/. 8,000.00
2 S/. 73,585.82 S/. 14,414.18 S/. 8,800.00
3 S/. 57,730.23 S/. 15,855.60 S/. 7,358.58
4 S/. 40,289.07 S/. 17,441.16 S/. 5,773.02
5 S/. 21,103.80 S/. 19,185.27 S/. 4,028.91
6 S/. 0.00 S/. 21,103.80 S/. 2,110.38
TOTALES S/. 80,000.00 S/. 36,070.89
DETERMINACIÓN CUOTA FIJA PERIODO DE GRACIA PARCIAL (1 MES)

21103.7984635796
0 S/. 80,000.00
1 S/. 80,000.00 S/. - S/. 8,000.00
2 S/. 66,896.20 S/. 13,103.80 S/. 8,000.00
3 S/. 52,482.02 S/. 14,414.18 S/. 6,689.62
4 S/. 36,626.43 S/. 15,855.60 S/. 5,248.20
5 S/. 19,185.27 S/. 17,441.16 S/. 3,662.64
6 S/. 0.00 S/. 19,185.27 S/. 1,918.53
TOTALES S/. 80,000.00 S/. 31,600.47

0 S/. 80,000.00
1 S/. 64,000.00 S/. 16,000.00 S/. 8,000.00
2 S/. 48,000.00 S/. 16,000.00 S/. 6,400.00
3 S/. 32,000.00 S/. 16,000.00 S/. 4,800.00
4 S/. 16,000.00 S/. 16,000.00 S/. 3,200.00
5 S/. - S/. 16,000.00 S/. 1,600.00
TOTALES S/. 80,000.00 S/. 24,000.00
AÑO FACTOR DEUDA

0 S/. 80,000.00
1 S/. 0.0666666666666667 S/. 74,666.67
2 S/. 0.133333333333333 S/. 64,000.00
3 S/. 0.20 S/. 48,000.00
4 S/. 0.266666666666667 S/. 26,666.67
5 S/. 0.333333333333333 S/. -
15 TOTAL
ÁN EN UN 70% A LA COMPRA DE MAQUINARIA Y EQUIPO Y LA DIFERENCIA PARA CAPITAL DE TRABAJO.
LA EMPRESA PARA TODOS LOS AÑOS ES DE 15,000 UNIDADES A UN PRECIO DE VENTA DE S/. 30.00
1 2 3 4 5
450,000.00 450,000.00 450,000.00 450,000.00 450,000.00
375,000.00 375,000.00 375,000.00 375,000.00 375,000.00
5,000.00 5,000.00 5,000.00 5,000.00 5,000.00
14,000.00 14,000.00 14,000.00 14,000.00 14,000.00
56,000.00 56,000.00 56,000.00 56,000.00 56,000.00
15,680.00 15,680.00 15,680.00 15,680.00 15,680.00
40,320.00 40,320.00 40,320.00 40,320.00 40,320.00
14,000.00 14,000.00 14,000.00 14,000.00 14,000.00
10,000.00
30,000.00
54,320.00 54,320.00 54,320.00 54,320.00 94,320.00
S/. -21,103.80 S/. -21,103.80 S/. -21,103.80 S/. -21,103.80 S/. -21,103.80
S/. 2,240.00 S/. 1,873.09 S/. 1,469.50 S/. 1,025.54 S/. 537.19
35,456.20 35,089.30 34,685.70 34,241.74 73,753.39
CUOTA
S/. 21,103.80
S/. 21,103.80
S/. 21,103.80
S/. 21,103.80
S/. 21,103.80
S/. 105,518.99
MES)
CUOTA
S/. -
S/. 23,214.18
S/. 23,214.18
S/. 23,214.18
S/. 23,214.18
S/. 23,214.18
S/. 116,070.89
MES)
CUOTA
S/. 8,000.00
S/. 21,103.80
S/. 21,103.80
S/. 21,103.80
S/. 21,103.80
S/. 21,103.80
S/. 113,518.99
CUOTA
S/. 24,000.00
S/. 22,400.00
S/. 20,800.00
S/. 19,200.00
S/. 17,600.00
S/. 104,000.00
AMORTIZACIÓN INTERES CUOTA
S/. 5,333.33 S/. 8,000.00 S/. 13,333.33

S/. 10,666.67 S/. 7,466.67 S/. 18,133.33
S/. 16,000.00 S/. 6,400.00 S/. 22,400.00
S/. 21,333.33 S/. 4,800.00 S/. 26,133.33
S/. 26,666.67 S/. 2,666.67 S/. 29,333.33
S/. 80,000.00 S/. 29,333.33 S/. 109,333.33
UN INVERSIONISTA DESEA CONOCER LA FACTIBILIDAD DE INVERTIR S/. 150,000 DE LOS CUALES S/. 100,000 SE DESTINARÁN A LA COMPRA DE MAQUINARIA Y EQUIPO
EL FINANCIAMIENTO DE LA INVERSIÓN SE PIENSA REALIZAR PIDIENDO UN PRÉSTAMO DE S/. 120,000 A UN BANCO PARA SER PAGADOS EN CUOTAS FIJAS EN UN PLAZO
DEL 15% ANUAL, LA DIFERENCIA DE LA INVERSIÓN SE HA FINANCIADO CON APORTE DE LOS ACCIONISTAS A UNA COK DEL 20%, LA MAQUINARIA QUE SE COMPRA TIEN
LA DEPRECIACIÓN ES LINEAL Y AL FINAL DE SU VIDA ÚTIL SE VENDE EN S/. 15,000. LAS VENTAS DE LA EMPRESA SON DE 22,000 UNIDADES A UN PRECIO DE VENTA UNIT
EL COSTO DE VENTAS REPRESENTA EL 80% DE LAS VENTAS Y EL COSTO FIJO TOTAL ES EL 1.5% DEL COSTO DE VENTAS DE CADA AÑO.
PERIODO 0 1 2
UNIDADES VENDIDAS 22,000.00 VENTAS 550,000.00 550,000.00
PRECIO VENTA UNITARIO 25.00 CV TOTAL 440,000.00 440,000.00
COSTO VENTA TOTAL 80% COSTO FIJO 6,600.00 6,600.00
COSTO FIJO TOTAL 1.5% DEPRECIACION 20,000.00 20,000.00
INVERSION 150,000.00 U BRUTA 83,400.00 83,400.00
ACTIVO FIJO 100,000.00 I. RENTA 23,352.00 23,352.00
CAPITAL TRABAJO 50,000.00 NOPAT 60,048.00 60,048.00
DEUDA 120,000.00 DEPRECIACION 20,000.00 20,000.00
CAPITAL PROPIO 30,000.00 VTA. ACT. FIJO
COK 20% INVERSION -150,000.00
VIDA UTIL 5 ACTIVO FIJO -100,000.00
DEPRECIACION EN 5 AÑOS 20,000.00 CAPITAL DE TRABAJO -50,000.00
SE VENDE ACT. FIJO 15,000.00 FLUJO CAJA LIBRE (ECONOMICO) -150,000.00 80,048.00 80,048.00
I. RENTA 28% (+) PRESTAMO 120,000.00
COSTO DEUDA 0.108 (-) SERVICIO DE LA DEUDA -35,797.87 -35,797.87
CPPK 0.1264 (+) EFI 5,040.00 4292.48946
FLUJO CAJA ACCIONISTA (FINANCIERO) -30,000.00 49,290.13 48,542.62
DETERMINACIÓN CUOTA FIJA

35797.87
0 S/. 120,000.00
1 S/. 102,202.13 S/. 17,797.87 S/. 18,000.00 S/. 35,797.87
2 S/. 81,734.58 S/. 20,467.55 S/. 15,330.32 S/. 35,797.87
3 S/. 58,196.90 S/. 23,537.68 S/. 12,260.19 S/. 35,797.87
4 S/. 31,128.56 S/. 27,068.34 S/. 8,729.53 S/. 35,797.87
5 S/. -0.02 S/. 31,128.59 S/. 4,669.28 S/. 35,797.87
TOTALES S/. 120,000.02 S/. 58,989.33 S/. 178,989.35
DETERMINACIÓN CUOTA FIJA PERIODO DE GRACIA TOTAL (1 MES)

41167.55
0 S/. 120,000.00
1 S/. 138,000.00 S/. -18,000.00 S/. 18,000.00 S/. -
2 S/. 117,532.45 S/. 20,467.55 S/. 20,700.00 S/. 41,167.55
3 S/. 93,994.77 S/. 23,537.68 S/. 17,629.87 S/. 41,167.55
4 S/. 66,926.43 S/. 27,068.33 S/. 14,099.22 S/. 41,167.55
5 S/. 35,797.85 S/. 31,128.59 S/. 10,038.96 S/. 41,167.55
6 S/. -0.03 S/. 35,797.87 S/. 5,369.68 S/. 41,167.55
TOTALES S/. 120,000.03 S/. 85,837.72 S/. 205,837.75
DETERMINACIÓN CUOTA FIJA PERIODO DE GRACIA PARCIAL (1 MES)

35797.87
0 S/. 120,000.00
1 S/. 120,000.00 S/. - S/. 18,000.00 S/. 18,000.00
2 S/. 102,202.13 S/. 17,797.87 S/. 18,000.00 S/. 35,797.87
3 S/. 81,734.58 S/. 20,467.55 S/. 15,330.32 S/. 35,797.87
4 S/. 58,196.90 S/. 23,537.68 S/. 12,260.19 S/. 35,797.87
5 S/. 31,128.56 S/. 27,068.34 S/. 8,729.53 S/. 35,797.87
6 S/. -0.02 S/. 31,128.59 S/. 4,669.28 S/. 35,797.87
TOTALES S/. 120,000.02 S/. 76,989.33 S/. 196,989.35

0 S/. 120,000.00
1 S/. 96,000.00 S/. 24,000.00 S/. 18,000.00 S/. 42,000.00
2 S/. 72,000.00 S/. 24,000.00 S/. 14,400.00 S/. 38,400.00
3 S/. 48,000.00 S/. 24,000.00 S/. 10,800.00 S/. 34,800.00
4 S/. 24,000.00 S/. 24,000.00 S/. 7,200.00 S/. 31,200.00
5 S/. - S/. 24,000.00 S/. 3,600.00 S/. 27,600.00
TOTALES S/. 120,000.00 S/. 54,000.00 S/. 174,000.00

35797.8662953834
AÑO FACTOR DEUDA AMORTIZACIÓN INTERES
0 S/. 120,000.00
1 S/. 0.0666666666666667 S/. 112,000.00 S/. 8,000.00 S/. 18,000.00
2 S/. 0.133333333333333 S/. 96,000.00 S/. 16,000.00 S/. 16,800.00
3 S/. 0.20 S/. 72,000.00 S/. 24,000.00 S/. 14,400.00
4 S/. 0.266666666666667 S/. 40,000.00 S/. 32,000.00 S/. 10,800.00
5 S/. 0.333333333333333 S/. - S/. 40,000.00 S/. 6,000.00
15 TOTAL S/. 120,000.00 S/. 66,000.00
DE MAQUINARIA Y EQUIPO Y LA DIFERENCIA PARA CAPITAL DE TRABAJO.
CUOTAS FIJAS EN UN PLAZO DE 5 AÑOS A UNA TASA DE INTERÉS
NARIA QUE SE COMPRA TIENE UNA VIDA ÚTIL DE 5 AÑOS,
A UN PRECIO DE VENTA UNITARIO DE S/. 25.00
3 4 5
550,000.00 550,000.00 550,000.00
440,000.00 440,000.00 440,000.00
6,600.00 6,600.00 6,600.00
20,000.00 20,000.00 20,000.00
83,400.00 83,400.00 83,400.00
23,352.00 23,352.00 23,352.00
60,048.00 60,048.00 60,048.00
20,000.00 20,000.00 20,000.00
15,000.00
50,000.00
80,048.00 80,048.00 145,048.00
-35,797.87 -35,797.87 -35,797.87

10,023.40 2444.26964985 1307.39955733
54,273.53 46,694.40 110,557.53
CUOTA
S/. 26,000.00
S/. 32,800.00
S/. 38,400.00
S/. 42,800.00
S/. 46,000.00
S/. 186,000.00

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Flujo Caja Clases 2

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DEUDA S/. 400,000.

DETERMINACIÓN CUOTA FIJA A PAGAR

DETERMINACIÓN CUOTA DECRECIENTE

AÑO DEUDA AMORTIZACIÓN INTERESES CUOTA

DETERMINACIÓN CUOTA CRECIENTE

AÑO FACTOR DEUDA AMORTIZACIÓN INTERESES CUOTA

DEUDA S/. 400,000.00

DETERMINACIÓN CUOTA FIJA Y PERIODO DE GRACIA PARCIAL

DETERMINACIÓN CUOTA FIJA A PAGAR

DETERMINACIÓN VAN Y TIR ECONÓMICO

DETERMINACIÓN VAN Y TIR FINANCIERO

DETERMINACIÓN VAN Y TIR ECONÓMICO

DETERMINACIÓN VAN Y TIR FINANCIERO

DETERMINACIÓN VAN Y TIR ECONÓMICO

DETERMINACIÓN VAN Y TIR FINANCIERO

DETERMINACIÓN VAN Y TIR ECONÓMICO

DETERMINACIÓN VAN Y TIR FINANCIERO

DETERMINACIÓN VAN Y TIR ECONÓMICO

DETERMINACIÓN VAN Y TIR FINANCIERO

DETERMINACIÓN VAN Y TIR ECONÓMICO

DETERMINACIÓN VAN Y TIR FINANCIERO

DETERMINACIÓN VAN Y TIR ECONÓMICO

nistas, los accionistas y los sostenedores de deuda.

DETERMINACIÓN CUOTA FIJA A PAGAR

N 70% A LA COMPRA DE MAQUINARIA Y EQUIPO Y LA DIFERENCIA PARA CAPITAL DE TRABAJO.

DETERMINACIÓN CUOTA FIJA A PAGAR

N 70% A LA COMPRA DE MAQUINARIA Y EQUIPO Y LA DIFERENCIA PARA CAPITAL DE TRABAJO.

DETERMINACIÓN CUOTA FIJA A PAGAR

N 70% A LA COMPRA DE MAQUINARIA Y EQUIPO Y LA DIFERENCIA PARA CAPITAL DE TRABAJO.

DETERMINACIÓN CUOTA FIJA A PAGAR

N 70% A LA COMPRA DE MAQUINARIA Y EQUIPO Y LA DIFERENCIA PARA CAPITAL DE TRABAJO.

DETERMINACIÓN CUOTA FIJA A PAGAR

N 70% A LA COMPRA DE MAQUINARIA Y EQUIPO Y LA DIFERENCIA PARA CAPITAL DE TRABAJO.

DETERMINACIÓN CUOTA FIJA A PAGAR

N 70% A LA COMPRA DE MAQUINARIA Y EQUIPO Y LA DIFERENCIA PARA CAPITAL DE TRABAJO.

DETERMINACIÓN CUOTA FIJA A PAGAR

DETERMINACIÓN CUOTA FIJA CON PERIODO DE GRACIA TOTAL (1 CUOTA)

DETERMINACIÓN VAN Y TIR ECONÓMICO

DETERMINACIÓN VAN Y TIR FINANCIERO

DETERMINACIÓN VAN Y TIR FINANCIERO

DETERMINACIÓN VAN Y TIR ECONÓMICO

DETERMINACIÓN VAN Y TIR FINANCIERO

DETERMINACIÓN VAN Y TIR ECONÓMICO

DETERMINACIÓN VAN Y TIR FINANCIERO

DETERMINACIÓN VAN Y TIR ECONÓMICO

DETERMINACIÓN VAN Y TIR FINANCIERO

DETERMINACIÓN VAN Y TIR ECONÓMICO

DETERMINACIÓN VAN Y TIR FINANCIERO

DETERMINACIÓN VAN Y TIR ECONÓMICO

DETERMINACIÓN VAN Y TIR FINANCIERO

S/. - S/. -175,460.65 S/. -175,460.65 S/. -175,460.65 S/. -175,460.65

RÁN EN UN 70% A LA COMPRA DE MAQUINARIA Y EQUIPO Y LA DIFERENCIA PARA CAPITAL DE TRABAJO.

DETERMINACIÓN CUOTA FIJA A PAGAR

inversionistas, los accionistas y los sostenedores de deuda.

RÁN EN UN 70% A LA COMPRA DE MAQUINARIA Y EQUIPO Y LA DIFERENCIA PARA CAPITAL DE TRABAJO.

inversionistas, los accionistas y los sostenedores de deuda.

RÁN EN UN 70% A LA COMPRA DE MAQUINARIA Y EQUIPO Y LA DIFERENCIA PARA CAPITAL DE TRABAJO.

DETERMINACIÓN CUOTA FIJA A PAGAR

inversionistas, los accionistas y los sostenedores de deuda.

RÁN EN UN 70% A LA COMPRA DE MAQUINARIA Y EQUIPO Y LA DIFERENCIA PARA CAPITAL DE TRABAJO.

DETERMINACIÓN CUOTA FIJA A PAGAR

inversionistas, los accionistas y los sostenedores de deuda.

DETERMINACIÓN CUOTA FIJA A PAGAR

RÁN EN UN 70% A LA COMPRA DE MAQUINARIA Y EQUIPO Y LA DIFERENCIA PARA CAPITAL DE TRABAJO.