TASAS

PERIODO
1
2
3
4
5
6
7
8
9
10
11
12
13

2
12
24
53
365
7
1
6
4
3
2
7
12

TASA PERIODICA TASA NOMINAL TASA EFECTIVA

3.00%
6.00%
6.09%
1.75%
21.00%
23.14%
1.26%
30.20%
35.00%
0.18%
9.54%
10.00%
0.13%
48.00%
61.56%
1.00%
7.00%
7.21%
15.00%
15.00%
15.00%
1.91%
11.44%
12.00%
25.00%
100.00%
144.14%
10.67%
32.00%
35.53%
3.00%
6.00%
6.09%
3.00%
10.00%
10.44%
3.44%
41.24%
50.00%

TASA TRIMESTRAL
1.49%
5.34%
7.79%
2.41%
12.00%
1.76%
3.56%
2.87%
25.00%
7.90%
1.49%
2.51%
10.67%

PRESTAMO
VALOR
No. CUOTAS
TASA INTERES

140,000,000
72 PERIODCIDAS MENSUAL
18% EA
TASA MENSUAL
PERIODO
0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38

INTERES
1,933,222.99
1,906,372.67
1,879,522.35
1,852,672.03
1,825,821.71
1,798,971.39
1,772,121.07
1,745,270.75
1,718,420.43
1,691,570.12
1,664,719.80
1,637,869.48
1,611,019.16
1,584,168.84
1,557,318.52
1,530,468.20
1,503,617.88
1,476,767.56
1,449,917.24
1,423,066.92
1,396,216.60
1,369,366.28
1,342,515.96
1,315,665.65
1,288,815.33
1,261,965.01
1,235,114.69
1,208,264.37
1,181,414.05
1,154,563.73
1,127,713.41
1,100,863.09
1,074,012.77
1,047,162.45
1,020,312.13
993,461.81
966,611.49
939,761.18

ABONO CAPITAL

PAGO

1,944,444.44
1,944,444.44
1,944,444.44
1,944,444.44
1,944,444.44
1,944,444.44
1,944,444.44
1,944,444.44
1,944,444.44
1,944,444.44
1,944,444.44
1,944,444.44
1,944,444.44
1,944,444.44
1,944,444.44
1,944,444.44
1,944,444.44
1,944,444.44
1,944,444.44
1,944,444.44
1,944,444.44
1,944,444.44
1,944,444.44
1,944,444.44
1,944,444.44
1,944,444.44
1,944,444.44
1,944,444.44
1,944,444.44
1,944,444.44
1,944,444.44
1,944,444.44
1,944,444.44
1,944,444.44
1,944,444.44
1,944,444.44
1,944,444.44
1,944,444.44

3,877,667.43
3,850,817.11
3,823,966.79
3,797,116.48
3,770,266.16
3,743,415.84
3,716,565.52
3,689,715.20
3,662,864.88
3,636,014.56
3,609,164.24
3,582,313.92
3,555,463.60
3,528,613.28
3,501,762.96
3,474,912.64
3,448,062.32
3,421,212.01
3,394,361.69
3,367,511.37
3,340,661.05
3,313,810.73
3,286,960.41
3,260,110.09
3,233,259.77
3,206,409.45
3,179,559.13
3,152,708.81
3,125,858.49
3,099,008.17
3,072,157.85
3,045,307.54
3,018,457.22
2,991,606.90
2,964,756.58
2,937,906.26
2,911,055.94
2,884,205.62

39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72

912,910.86
886,060.54
859,210.22
832,359.90
805,509.58
778,659.26
751,808.94
724,958.62
698,108.30
671,257.98
644,407.66
617,557.34
590,707.02
563,856.71
537,006.39
510,156.07
483,305.75
456,455.43
429,605.11
402,754.79
375,904.47
349,054.15
322,203.83
295,353.51
268,503.19
241,652.87
214,802.55
187,952.24
161,101.92
134,251.60
107,401.28
80,550.96
53,700.64
26,850.32
-

1,944,444.44
1,944,444.44
1,944,444.44
1,944,444.44
1,944,444.44
1,944,444.44
1,944,444.44
1,944,444.44
1,944,444.44
1,944,444.44
1,944,444.44
1,944,444.44
1,944,444.44
1,944,444.44
1,944,444.44
1,944,444.44
1,944,444.44
1,944,444.44
1,944,444.44
1,944,444.44
1,944,444.44
1,944,444.44
1,944,444.44
1,944,444.44
1,944,444.44
1,944,444.44
1,944,444.44
1,944,444.44
1,944,444.44
1,944,444.44
1,944,444.44
1,944,444.44
1,944,444.44
1,944,444.44

2,857,355.30
2,830,504.98
2,803,654.66
2,776,804.34
2,749,954.02
2,723,103.70
2,696,253.38
2,669,403.07
2,642,552.75
2,615,702.43
2,588,852.11
2,562,001.79
2,535,151.47
2,508,301.15
2,481,450.83
2,454,600.51
2,427,750.19
2,400,899.87
2,374,049.55
2,347,199.23
2,320,348.91
2,293,498.60
2,266,648.28
2,239,797.96
2,212,947.64
2,186,097.32
2,159,247.00
2,132,396.68
2,105,546.36
2,078,696.04
2,051,845.72
2,024,995.40
1,998,145.08
1,971,294.76

1.380874%
SALDO
140,000,000.00
138,055,555.56
136,111,111.11
134,166,666.67
132,222,222.22
130,277,777.78
128,333,333.33
126,388,888.89
124,444,444.44
122,500,000.00
120,555,555.56
118,611,111.11
116,666,666.67
114,722,222.22
112,777,777.78
110,833,333.33
108,888,888.89
106,944,444.44
105,000,000.00
103,055,555.56
101,111,111.11
99,166,666.67
97,222,222.22
95,277,777.78
93,333,333.33
91,388,888.89
89,444,444.44
87,500,000.00
85,555,555.56
83,611,111.11
81,666,666.67
79,722,222.22
77,777,777.78
75,833,333.33
73,888,888.89
71,944,444.44
70,000,000.00
68,055,555.56
66,111,111.11

CON PAGOS IGUALES

PERIODO
INTERES
0
1
1,933,222.99
2
1,917,373.63
3
1,901,305.42
4
1,885,015.33
5
1,868,500.28
6
1,851,757.19
7
1,834,782.90
8
1,817,574.21
9
1,800,127.89
10
1,782,440.66
11
1,764,509.20
12
1,746,330.12
13
1,727,900.01
14
1,709,215.40
15
1,690,272.79
16
1,671,068.60
17
1,651,599.22
18
1,631,861.00
19
1,611,850.22
20
1,591,563.11
21
1,570,995.87
22
1,550,144.62
23
1,529,005.43
24
1,507,574.35
25
1,485,847.32
26
1,463,820.28
27
1,441,489.06
28
1,418,849.49
29
1,395,897.28
30
1,372,628.14
31
1,349,037.68
32
1,325,121.47
33
1,300,875.00
34
1,276,293.72
35
1,251,373.00
36
1,226,108.16
37
1,200,494.45
38
1,174,527.04

ABONO CAPITAL
1,147,777.36
1,163,626.72
1,179,694.93
1,195,985.03
1,212,500.07
1,229,243.16
1,246,217.45
1,263,426.14
1,280,872.46
1,298,559.69
1,316,491.16
1,334,670.23
1,353,100.34
1,371,784.95
1,390,727.56
1,409,931.75
1,429,401.13
1,449,139.35
1,469,150.13
1,489,437.24
1,510,004.48
1,530,855.73
1,551,994.92
1,573,426.00
1,595,153.03
1,617,180.07
1,639,511.29
1,662,150.86
1,685,103.07
1,708,372.21
1,731,962.67
1,755,878.88
1,780,125.35
1,804,706.63
1,829,627.35
1,854,892.19
1,880,505.90
1,906,473.31

64,166,666.67
62,222,222.22
60,277,777.78
58,333,333.33
56,388,888.89
54,444,444.44
52,500,000.00
50,555,555.56
48,611,111.11
46,666,666.67
44,722,222.22
42,777,777.78
40,833,333.33
38,888,888.89
36,944,444.44
35,000,000.00
33,055,555.56
31,111,111.11
29,166,666.67
27,222,222.22
25,277,777.78
23,333,333.33
21,388,888.89
19,444,444.44
17,500,000.00
15,555,555.56
13,611,111.11
11,666,666.67
9,722,222.22
7,777,777.78
5,833,333.33
3,888,888.89
1,944,444.44
0.00

39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72

1,148,201.05
1,121,511.54
1,094,453.47
1,067,021.77
1,039,211.28
1,011,016.75
982,432.89
953,454.33
924,075.61
894,291.21
864,095.52
833,482.87
802,447.49
770,983.56
739,085.15
706,746.26
673,960.81
640,722.64
607,025.49
572,863.02
538,228.82
503,116.36
467,519.04
431,430.17
394,842.95
357,750.51
320,145.88
282,021.97
243,371.62
204,187.55
164,462.40
124,188.70
83,358.87
41,965.23

1,932,799.30
1,959,488.81
1,986,546.88
2,013,978.58
2,041,789.08
2,069,983.60
2,098,567.46
2,127,546.02
2,156,924.74
2,186,709.15
2,216,904.83
2,247,517.49
2,278,552.86
2,310,016.80
2,341,915.21
2,374,254.09
2,407,039.54
2,440,277.71
2,473,974.86
2,508,137.33
2,542,771.53
2,577,883.99
2,613,481.31
2,649,570.19
2,686,157.40
2,723,249.84
2,760,854.47
2,798,978.38
2,837,628.74
2,876,812.80
2,916,537.95
2,956,811.65
2,997,641.48
3,039,035.12

PAGO
3,081,000.35
3,081,000.35
3,081,000.35
3,081,000.35
3,081,000.35
3,081,000.35
3,081,000.35
3,081,000.35
3,081,000.35
3,081,000.35
3,081,000.35
3,081,000.35
3,081,000.35
3,081,000.35
3,081,000.35
3,081,000.35
3,081,000.35
3,081,000.35
3,081,000.35
3,081,000.35
3,081,000.35
3,081,000.35
3,081,000.35
3,081,000.35
3,081,000.35
3,081,000.35
3,081,000.35
3,081,000.35
3,081,000.35
3,081,000.35
3,081,000.35
3,081,000.35
3,081,000.35
3,081,000.35
3,081,000.35
3,081,000.35
3,081,000.35
3,081,000.35

SALDO
140,000,000.00
138,852,222.64
137,688,595.92
136,508,900.99
135,312,915.96
134,100,415.90
132,871,172.74
131,624,955.28
130,361,529.14
129,080,656.68
127,782,096.99
126,465,605.84
125,130,935.60
123,777,835.26
122,406,050.31
121,015,322.75
119,605,391.00
118,175,989.87
116,726,850.52
115,257,700.39
113,768,263.15
112,258,258.67
110,727,402.94
109,175,408.02
107,601,982.02
106,006,828.99
104,389,648.91
102,750,137.63
101,087,986.76
99,402,883.69
97,694,511.49
95,962,548.82
94,206,669.93
92,426,544.58
90,621,837.95
88,792,210.60
86,937,318.41
85,056,812.51
83,150,339.19

3,081,000.35
3,081,000.35
3,081,000.35
3,081,000.35
3,081,000.35
3,081,000.35
3,081,000.35
3,081,000.35
3,081,000.35
3,081,000.35
3,081,000.35
3,081,000.35
3,081,000.35
3,081,000.35
3,081,000.35
3,081,000.35
3,081,000.35
3,081,000.35
3,081,000.35
3,081,000.35
3,081,000.35
3,081,000.35
3,081,000.35
3,081,000.35
3,081,000.35
3,081,000.35
3,081,000.35
3,081,000.35
3,081,000.35
3,081,000.35
3,081,000.35
3,081,000.35
3,081,000.35
3,081,000.35

81,217,539.89
79,258,051.08
77,271,504.20
75,257,525.62
73,215,736.55
71,145,752.94
69,047,185.49
66,919,639.47
64,762,714.72
62,576,005.58
60,359,100.75
58,111,583.26
55,833,030.40
53,523,013.60
51,181,098.40
48,806,844.30
46,399,804.76
43,959,527.05
41,485,552.18
38,977,414.85
36,434,643.32
33,856,759.33
31,243,278.01
28,593,707.83
25,907,550.43
23,184,300.59
20,423,446.12
17,624,467.73
14,786,839.00
11,910,026.20
8,993,488.25
6,036,676.60
3,039,035.12
0.00

PRESTAMO
VALOR
No. CUOTAS
TASA INTERES

140,000,000
6 PERIODCIDAS ANUAL
18% EA
PERIODO
0
1
2
3
4
5
6

INTERES
25,200,000.00
21,000,000.00
16,800,000.00
12,600,000.00
8,400,000.00
4,200,000.00

ABONO CAPITAL
23,333,333.33
23,333,333.33
23,333,333.33
23,333,333.33
23,333,333.33
23,333,333.33

PAGO
48,533,333.33
44,333,333.33
40,133,333.33
35,933,333.33
31,733,333.33
27,533,333.33

SALDO
140,000,000.00
116,666,666.67
93,333,333.33
70,000,000.00
46,666,666.67
23,333,333.33
-

CON PAGOS IGUALES

PERIODO
INTERES
0
1
25,200,000.00
2
22,531,064.74
3
19,381,721.14
4
15,665,495.69
5
11,280,349.66
6
6,105,877.34

ABONO CAPITAL

PAGO

14,827,418.09
17,496,353.35
20,645,696.95
24,361,922.41
28,747,068.44
33,921,540.76

40,027,418.09
40,027,418.09
40,027,418.09
40,027,418.09
40,027,418.09
40,027,418.09

SALDO
140,000,000.00
125,172,581.91
107,676,228.56
87,030,531.60
62,668,609.20
33,921,540.76
-

AO
PERIODO
0
1
2
3
4
5
6
7
8
9
10
VPN
TIR

PROYECTO X
-$ 50,000,000.00
$ 0.00
$ 0.00
$ 0.00
$ 20,000,000.00
$ 30,000,000.00
$ 40,000,000.00
$ 50,000,000.00
$ 60,000,000.00
$ 70,000,000.00
$ 80,000,000.00

PROYECTO Y
-$ 65,000,000.00
$ 40,000,000.00
$ 36,000,000.00
$ 32,000,000.00
$ 28,000,000.00
$ 24,000,000.00
$ 20,000,000.00
$ 16,000,000.00
$ 12,000,000.00
$ 8,000,000.00
$ 4,000,000.00

PROYECTO Z
-$ 80,000,000.00
$ 15,000,000.00
$ 17,500,000.00
$ 20,000,000.00
$ 22,500,000.00
$ 25,000,000.00
$ 27,500,000.00
$ 30,000,000.00
$ 32,500,000.00
$ 35,000,000.00
$ 37,500,000.00

$ 125,501,174.00
30.41%

$ 89,874,369.79
49.28%

$ 66,386,741.69
24.49%

PROYECTO X
$ 50,000,000.00
0.80

PROYECTO Y
$ 65,000,000.00
0.62

PROYECTO Z
$ 80,000,000.00
0.50

$ 10,000,000.00

$ 25,000,000.00

$ 25,000,000.00
$ 15,000,000.00

COSTO DE CAPITAL
CAPITAL TOTAL
RECURSOS PROPIOS
LINEA DE CREDITO 1
LINEA DE CREDITO 2
PROPORCION
LINEA DE CREDITO 1
LINEA DE CREDITO 2
COSTOS
KA
ATKd1
ATKd2

0.20
0.00
TASA IMPTOS

0.38
0.00

0.31
0.19

25%

9%
11.25%
12.75%

PROYECTO X
9.45%

WACC
PERFIL VPN
TASAS
0%
4%
8%
12%
16%
20%
24%

PROYECTO Y
9.87%

PROYECTO X VPN
-$ 50,000,000.00 $ 300,000,000.00
$ 0.00 $ 208,429,986.01
$ 0.00 $ 143,988,437.62
$ 0.00
$ 97,849,427.21
$ 20,000,000.00
$ 64,281,303.38
$ 30,000,000.00
$ 39,492,388.27
$ 40,000,000.00
$ 20,930,721.71

PROYECTO Z
10.41%

$ 350,000,000.00
$ 300,000,000.00
$ 250,000,000.00
$ 200,000,000.00
$ 150,000,000.00
$ 100,000,000.00
$ 50,000,000.00
$ 0.00

$ 250,000,000.00
$ 200,000,000.00
$ 150,000,000.00

28%
32%
36%
40%

$
$
$
$

50,000,000.00
60,000,000.00
70,000,000.00
80,000,000.00

$ 6,850,812.42
-$ 3,959,383.64
-$ 12,353,499.02
-$ 18,940,796.47

$ 100,000,000.00
$ 50,000,000.00
$ 0.00
-$ 50,000,000.00

0%

4%

RECURSOS PROPIOS
LINEA DE CREDITO POR 25 MILLONES
LINEA DE CREDITO POR 20 MILLONES

PERFIL VPN PROYECTO X

350,000,000.00

300,000,000.00

250,000,000.00

200,000,000.00

150,000,000.00

100,000,000.00

$ 50,000,000.00
$ 0.00

40,000,000.00
15%
17%

250,000,000.00

200,000,000.00

150,000,000.00

100,000,000.00

$ 50,000,000.00
$ 0.00

$ 50,000,000.00

0%

4%

8%

12%

16%

20%

24%

28%

32%

36%

40%

36%

40%

TASA DE INTERES
VALOR DPOSITO
PLAZO

3.30% E.A
120000 MENSUAL
12 MESES

PERIODO
0
1
2
3
4
5
6
7
8
9
10
11
12

TASA MENSUAL

DEPOSITO

INTERES

120,000.00
120,000.00
120,000.00
120,000.00
120,000.00
120,000.00
120,000.00
120,000.00
120,000.00
120,000.00
120,000.00
120,000.00

325.11
651.10
977.98
1,305.74
1,634.39
1,963.93
2,294.36
2,625.69
2,957.91
3,291.04
3,625.07
3,960.00

SALDO FINAL
120,000.00
240,325.11
360,976.22
481,954.19
603,259.94
724,894.32
846,858.25
969,152.62
1,091,778.30
1,214,736.22
1,338,027.26
1,461,652.33
1,585,612.33

0.270926%

PERIODO

PROYECTO X
0 -$ 50,000,000.00
1
2
3
4 $ 20,000,000.00
5 $ 30,000,000.00
6 $ 40,000,000.00
7 $ 50,000,000.00
8 $ 60,000,000.00
9 $ 70,000,000.00
10

PROYECTO Y
-$ 65,000,000.00
$ 40,000,000.00
$ 36,000,000.00
$ 32,000,000.00
$ 28,000,000.00
$ 24,000,000.00
$ 20,000,000.00
$ 16,000,000.00
$ 12,000,000.00
$ 8,000,000.00
$ 4,000,000.00

PROYECTO Z
-$ 80,000,000.00
$ 15,000,000.00
$ 17,500,000.00
$ 20,000,000.00
$ 22,500,000.00
$ 25,000,000.00
$ 27,500,000.00
$ 30,000,000.00

TASA DESCUE
10%
VPN
$ 88,202,048.01

$ 89,217,315.77

$ 24,934,082.02

CAE

$ 14,519,707.29

$ 5,121,597.58

$ 15,315,451.16

$ 630.00

AUNQUE EL PROYECTO ES MAYOR A MENOR TIEMPO DA MAS PLATA