1)

FCx

(200,000)

VP

380,000.00

VPL

180,000.00

ILL

2)

1.90

15.00%

FCx

(3,000)

1,200

3,200

4,500

FCx0

(3,000)

1,043

2,420

2,959

FCx_Ac

(3,000)

(1,957)

463

3,422

VP

6,421.96

VPL

3,421.96

ILL

2.14

TIR

62.47%

PBD

PBD

3)

8.00%

FCx

(9,000)

1,800

4,200

5,600

FCx0

(9,000)

1,667

3,601

4,445

FCx_Ac

(9,000)

(7,333)

(3,733)

713

VP

9,712.95

VPL

712.95

ILL

1.08

TIR

11.68%

PBD

PBD

4)

12.00%

FCx

(150,000)

62,000

74,200

85,600

FCx0

(150,000)

55,357

59,152

60,928

FCx_Ac

(150,000)

(94,643)

(35,491)

25,437

VP

175,437.32

VPL

25,437.32

ILL

1.17

TIR

21.10%

PBD

PBD

I0

VP

VPL

ILL

200,000

380,000.00

180,000.00

1.90

9,000

9,712.95

712.95

1.08

937,487.40

(62,512.60)

0.94

2,815.31

465.31

1.20

5 1,000,000
7

2,350

5)

17.00%

FCx

(1,000,000)

280,000

460,000

580,000

FCx0

(1,000,000)

239,316

336,036

362,135

FCx_Ac

(1,000,000)

(760,684)

(424,648)

(62,513)

VP

937,487.40

VPL

(62,512.60)

ILL

0.94

TIR

13.52%

PBD

PBD

no existe

FCx

(3,200,000)

VP

4,000,000.00

VPL

800,000.00

(62,513)

6)

ILL

7)

1.25

8.00%

FCx

(2,350)

850

850

850

850

FCx0

(2,350)

787

729

675

625

FCx_Ac

(2,350)

(1,563)

(834)

(159)

465

VP

2,815.31

VPL

465.31

ILL

1.20

TIR

16.61%

PBD

PBD

1)

20.00%

7)

FCx

880,000

670,000

950,000

FCx0

733,333

465,278

549,769

FCx_Ac

(866,667)

(401,389)

148,380

148,380

VP
VPL
ILL
TIR
PBD
PBD

2)

20.00%

8)

FCx

480,000

670,000

820,000

FCx

FCx0

400,000

465,278

474,537

FCx_Ac

(800,000)

(334,722)

139,815

139,815

FCx0
FCx_Ac

VP

VP

VPL

VPL

ILL

ILL

TIR

TIR

PBD

PBD

PBD

3)

PBD

20.00%

9)

FCx

820,000

460,000

330,000

FCx

FCx0

683,333

319,444

190,972

FCx_Ac

(596,667)

(277,222)

(86,250)

(86,250)

FCx0
FCx_Ac

VP

VP

VPL

VPL

ILL

ILL

TIR

TIR

PBD

PBD

PBD

4)

PBD

20.00%

10)

FCx

380,000

670,000

120,000

FCx

FCx0

316,667

465,278

69,444

FCx_Ac

(283,333)

181,944

251,389

251,389

FCx0
FCx_Ac

VP

VP

VPL

VPL

ILL

ILL

TIR

TIR

PBD

PBD

PBD

PBD

5)

11)

t
FCx
FCx0
S CONCEITUAL

FCx_Ac
VP
VPL
ILL
TIR
PBD
PBD

6)

20.00%

FCx

1,400,000

FCx0

1,166,667

FCx_Ac

166,667

VP
VPL
ILL
TIR
PBD

PBD

VP

VPL

TIR

ILL

1,748,380

148,380

25.80%

1.09

1,339,815

139,815

26.67%

1.12

1,193,750

(86,250)

14.88%

0.93

851,389

251,389

47.95%

1.42

1,166,667

166,667

40.00%

1.17

2,815

465

16.61%

1.20

10,958

4,958

55.16%

1.83

10

2,886

(114)

9.85%

0.96

11

10,457,221

2,257,221

16.23%

1.28

S CONCEITUAL

8.00%

(2,350)

850

850

850

850

(2,350)

787

729

675

625

(2,350)

(1,563)

(834)

(159)

465

2,815.31
465.31
1.20
16.61%
0
4

10.00%

(6,000)

4,500

5,400

3,200

(6,000)

4,091

4,463

2,404

(6,000)

(1,909)

2,554

4,958

10,957.93
4,957.93
1.83
55.16%
0

12.00%

(3,000)

1,100

1,200

1,331

(3,000)

982

957

947

(3,000)

(2,018)

(1,061)

(114)

2,886.16
(113.84)
0.96
9.85%
0
no existe

12.00%

(8,200,000)

1,400,000

1,400,000

1,400,000

1,400,000

1,400,000

1,400,000

(8,200,000)

1,250,000

1,116,071

996,492

889,725

794,398

709,284

(8,200,000)

###

###

###

(3,947,711) (3,153,313)

###

10,457,221.07
2,257,221.07
1.28
16.23%
0
11

10

11

12

13

14

1,400,000

1,400,000

1,400,000

1,400,000

1,400,000

1,400,000

1,400,000

1,400,000

633,289

565,437

504,854

450,763

402,467

359,345

320,844

286,468

(289,688)

112,779

472,124

792,968

1,079,436

(1,810,741) (1,245,304) (740,450)

15

16

17

18

19

20

1,400,000

1,400,000

1,400,000

1,400,000

1,400,000

1,400,000

255,775

228,370

203,902

182,055

162,549

145,133

1,335,210

1,563,581

1,767,483

1,949,538

2,112,088

2,257,221

3)
I (ou K) = 12.5898%
Investimento = (10,000)
Tempo

Fluxo

3,333.33

Em t = 0

2,960.60

3,333.33

3,333.33

2,629.54

2,335.51

FLUXO DE CAIXA ACUMULADOS

Pay-Back Simples

3,333.33

6,666.66

9,999.99

Pay-Back Descontado

2,960.60

5,590.14

7,925.65

4)
TMA = 20.00%
Investimento = (1,000,000)

Tempo

Fluxo

250,000

Em t = 0
Fluxos Acumulados

208,333.33
208,333.33

250,000

250,000

173,611.11

144,675.93

381,944.44

526,620.37

7
250,000
69,770.41
901,147.94

Outra forma de Fazer

Exerccio
PV =

(10,000)

PMT=

3,333.33

N=
TMA =

4
12.5898%

8
250,000
58,142.01
959,289.95

9
250,000
48,451.67
1,007,741.63

10
250,000
40,376.40
1,048,118.02

FLUXO
Projeto

2,200

242

0.0

1,100

2,420

133.1

2,420

2,928.2

1,100

2,928.2

I=

FLUXO DESCONTADO PARA DATA 0

Projeto

2,000

200

1,000

2,000

100

2,000

2,200

1,000

2,200

VPL

TIR

IL

200

20.08%

1.10

1,100

42.92%

1.55

1,300

27.53%

1.45

1,200

35.15%

1.60

PONTOS DE EQUILBRIO
FINANCEIRO
Quantidade

40,000 comp./ano

CONTBIL
Quantidade

58,750 comp./ano

ECONMICO
Quantidade

82,808 comp./ano

Quantidade de alunos
Receita Total
Gastos variveis

2,000.00
800,000
(170,000)

Comisso de vendas

(40,000)

Impostos variveis

(80,000)

Apostilas e assemelhados

(50,000)

LAIR
IR

370,000
(148,000)

Resultado Financeiro

247,000

Resultado Contbil

222,000

+ Depreciao

25,000

- Custo de Reposio

(43,151.95)

Resultado Econmico

203,848

VPL

7,085,939

PONTOS DE EQUILBRIO
Financeiro

746.03

Contbil

825.40

Econmico

921.44

Resultado
Financeiro

747 alunos/ms

Contbil

826 alunos/ms

Econmico

922 alunos/ms
b

Quantidade de clientes

40.00

Receita Total

120,000

Gastos variveis

(86,000)

PONTOS DE EQUILBRIO

Honorrios advocatcios

(24,000)

Financeiro

18.24

Impostos sobre a receita

(12,000)

Contbil

22.35

Custas processuais

(50,000)

Econmico

30.37

Gastos Fixos Totais

Gastos Fixos
Depreciao

(19,000)
(15,500)
(3,500)

LAIR

15,000

IR

(6,000)

Resultado Financeiro

12,500

Resultado Contbil
+ Depreciao
- Custo de Reposio
Resultado Econmico

9,000
3,500
(7,587.92)
4,912

PMT