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CREDITO COMERCIAL

Un proveedor de la
empresa Azulejos S.A.
concede descuentos por
pronto pago del 3%. Cual
sera el coste de esta
financiacin si aplazamos
el pago de productos por
valor de 1.000.000 en 90
das :

nominal=
dto pronto pago
n=
efectivo=

t
365

E( 1+i )
1000000
3.00%
90
970000

id=

=N

t
365

+i )

=N

13.15%

POLIZA DE CREDITO
La empresa AAA ha contratado con su banco una pliza de
crdito en las siguientes condiciones:
Lmite de crdito: 20.000
Inters deudor (dentro del crdito concedido): 10%
Inters excedido: 22%
Inters acreedor: 1%
Comisin de disponibilidad: 5 trimestral
Comisin por mximo excedido: 1 trimestral
Liquidacin por trimestres vencidos.
A lo largo del primer perodo de liquidacin se han
producido los siguientes movimientos:
15-abril Concesin de la pliza. Cargo de 400 . por
comisiones.
20-abril Pago de una factura de 5.000
10-mayo Pago de un taln de 10.000
A lo largo del segundo perodo de liquidacin se han
producido los siguientes movimientos:
8-agosto Pago facturas varias 6.000
16-sept. Ingreso en efectivo de 22.000.
A partir de estos datos se realizarn las siguientes
liquidaciones:
Liquidacin del perodo 15-04 al 15-07.
Liquidacin del perodo 15-07 al 15-10

Cuenta de crdito
i(aceed)=
i (exc)=
i=
c=
L=
T=
D=

Liquidacin
fecha
15-Apr
20-Apr
10-May

I deudores
saldo medio dispuesto:
saldo medio no dispuesto:
Com. Disp
Saldo tras liquidacin:

Liquidacin
fecha
15-Jul
8-Aug
16-Sep

I deudores
I excedidos

I acreedores
saldo medio dispuesto:
saldo medio no dispuesto:
Com. Disp
Saldo tras liquidacin:

iA k

CL 4T ( L D )
D

K: Tipo nominal anual


C: Comisin formalizacin
L: Lmite lnea de crdito

T: Comisin trimestral sobre saldo no dispuesto


D: Previsin sobre crdito medio a disponer.

1.00% 2.78E-005
20.00% 0.0005556
7.00% 0.0001944
2.00%
3,600,000.00
0.10%
3,500,000.00

id=

9.07%

primer periodo
concepto
com aper
factura
talon

cuata

signo
400 d
5000 d
10000 d

saldo
400
5400
15400

219.02
12,378.02
3,587,621.98
3,587.62
19,206.64

segundo periodo
concepto
cuata
liquidacin
factura
I. Efectivo

27,389.63
112.81

signo

3,806.64 d
6000 d
-22000 h

saldo
19,206.64
25,206.64
3,206.64

2.58
1,531,097.39
2,068,902.61
2,068.90
32,775.41

al anual

rmalizacin

de crdito
saldo no dispuesto

edio a disponer.

i(aceed)=
i (exc)=
i=
c=
L=
T=
D=

1.00% 2.77778E-005
20.00% 0.0005555556
7.20%
0.0002
1.50%
3,600,000.00
0.05%
3,500,000.00

dias

N deudores
N excedidos
5
2000
20.00
108000
66
1016400
91
1126400

dias

N deudores
24
39
29
92

N excedidos

460,959.46
###
###

N acreedores

N acreedores

203,059.12
203,059.12

92,992.68
92,992.68

id= 8.75%

DESCUENTO DE EFECTOS
Se desea descontar una letra de 3.250 euros
cuando an faltan 60 das para su vencimineto en
las siguientes condiciones.
Tipo de descuento: 14% anual.
Comisin: 3 (mnimo 5 euros).
Otros gastos: 2 euros.
Llegado el vencimiento de la letra del ejemplo 1,
sta es devuelta por impagada, cargndose en la
cuenta del cedente por los siguientes conceptos:
Comisin de devolucin: 1.
Comisin de protesto: 2.
Correo: 2,50 euros.
Finalmente para recuperar la letra devuelta por
impagada del ejemplo 2 se llega al acuerdo de girar
una nueva letra con vencimiento a 30 das, en las
siguientes condiciones:
Tipo de descuento: 15%.
Comisin: 3.
Otros gastos: 10 euros.
Determinar el importe de la nueva letra.
COSTE DESCUENTO EFECTO
d= 6.00%
nominal
3250

das
60

COSTE CON DEVOLUCIN


d= 6.00%
nominal
3282.19
Com devol:
com protes:
correo
gastos:
adeudo en CC
DAS

0.001
0.002
2.5
12.25
3262.25
10

das
10

i
adeudo en CC

0.22
3282.19

LETRA RESACA
d= 8.50%
nominal
3310.81

d
n

E N 1
*

100 360

E: efectivo
N: Nominal efecto

n: das de aplazamiento

Clculo del coste: tener en cuenta comisiones e impuestos:

E gN T N (1 i )
E: efectivo descuento
t: das de aplazamiento

t
365

N: Nominal efecto
g: comisin T: Timbre

efectivo
3217.50

comisin Timbre
0.30%

Eneto
id
3205.75

8.70%

efectivo
3276.72

comisin Timbre
Eneto
id
0.25%
16.83
3251.68

40.61%

das
30

efectivo
3287.36

comisin Timbre
Eneto
0.25%
16.83

id
3262.25

19.69%

OPERACIN DE FACTORING

Importe bruto de la remesa 120.202,42


Anticipo mximo 90% 108.182,18
Cobertura de insolvencias: 100% sobre anticipos
Tipo de inters: 7%. Duracin 90 das
Comisin de factor:
Por la gestin de cobro: 0,50% sobre Importe bruto de la
remesa
Por la cobertura de insolvencias: 0,20% sobre el anticipo.
Liquidacin total a los 120 das.
Calcular el coste efectivo
N= 120,202.42
Porcentaje anticipo=
90.00%
A= 108,182.18
i=
7.00%
n=
90
n'=
120
Cgest=
0.50%
C.insolv=
0.20%

601.0121
216.364356

I=
1,893.19
11.9685087161 ECUACION DEL COSTE
ip=
11.11%

REPO
El
director financiero de una empresa
necesita 12.000 durante 45das. Su
banco le ofrece realizar un repo sobre
las doce Letras del Tesoro que tiene en
cartera y a las que les faltan 140 das
para el vencimiento, el tipo de inters en
el mercado secundario de Letras s el
3,85% y las condiciones del repo son
tipo de inters del 4,15% y una comisin
del 0,75% sobre el precoi de retrocesin
a pagar al final de la operacin.

t
365

( E1 C v )(1+i )

Calcular el coste para la empresa por


realizar el repo.

Precio de cesin:
nominal=
im=
n=

1000
3.85%
140

Pc= 985.25

Precio de retrocesin:
ir=
n=

4.15%
45
Pr=

Rendimiento
comisin=

0.75%
id=

10.80%

990.36

=E2 + Cr

t
365

i)

=E2 + Cr

realmente aportado Realmente recibido


(Pr,45)
(Pc,0)
(com,45)

Linea de confirming, euribor ms 0,75 y comisin de 0,2%.

N=
i=Euribor+0,75
Euribor=
comision=
duracion
Efectivo=
coste

120,202.42
5.08%
4.33%
0.20%
90
118,694.99
6.12%

Ejercicio amortizacin. Una empresa decide solicitar la


siguiente operacin de amortizacin para la adquisicin
de maquinaria a una entidad financiera:
* capital prestado 30.000
* mtodo de amortizacin francs cuotas mensuales
* duracin 5 aos
* tipo de inters del 6% nominal
* comisin de apertura del 1%
* Gastos de estudio de 30
* Intervencin del corredor de comercio 0,5%
Calclese el tanto efectivo de coste y de rendimiento.

La empresa ha decidido solicitar una subvencin que se


concede por parte de las autoridades autonmicas para la
modernizacin de equipos, y, un ao despus de la
formalizacin del prstamo reciben 2100 a fondo
perdido. Para que se le conceda dicha subvencin, la
empresa ha de acudir al aval de la SGR, cuyas
caractersticas son: una comisin peridica anual del 1%
del capital vivo, una comisin de apertura del 1,5%
Como influye esta subvencin en los costes de la
operacin?

n=
m=
j(m)=
i(m)=
C0=
a=
nxm=
Com bancaria=
Gastos Estudio=
Interv fedatario=

5
12
0.06
0.005
30000
579.984
60
0.01
30
0.005

Comban=
G.estudio
Interv fed=
Gast- Cero=

300
30
150
480

PRESTAMO ORIGINAL
Cs
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
39
40
41
42
43
44
45
46
47

30000
29570.02
29137.88
28703.59
28267.12
27828.47
27387.63
26944.59
26499.32
26051.84
25602.11
25150.14
24695.9
24239.4
23780.61
23319.53
22856.15
22390.44
21922.41
21452.04
20979.32
20504.23
20026.76
19546.91
19064.66
18580
18092.92
17603.4
17111.43
16617.01
16120.11
15620.72
15118.84
14614.45
14107.54
13598.1
13086.1
12571.55
12054.42
11534.71
11012.4
10487.48
9959.931
9429.747
8896.912
8361.412
7823.235
7282.367

I
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984

A
150
147.8501
145.6894
143.5179
141.3356
139.1424
136.9382
134.7229
132.4966
130.2592
128.0106
125.7507
123.4795
121.197
118.9031
116.5977
114.2807
111.9522
109.6121
107.2602
104.8966
102.5211
100.1338
97.73457
95.32332
92.90002
90.4646
88.017
85.55717
83.08503
80.60054
78.10362
75.59422
73.07227
70.53771
67.99048
65.43051
62.85774
60.27211
57.67355
55.062
52.43739
49.79966
47.14874
44.48456
41.80706
39.11618

429.984
432.134
434.2946
436.4661
438.6484
440.8417
443.0459
445.2611
447.4874
449.7249
451.9735
454.2334
456.5045
458.787
461.081
463.3864
465.7033
468.0318
470.372
472.7239
475.0875
477.4629
479.8502
482.2495
484.6607
487.084
489.5194
491.967
494.4269
496.899
499.3835
501.8804
504.3898
506.9118
509.4463
511.9936
514.5535
517.1263
519.7119
522.3105
524.922
527.5467
530.1844
532.8353
535.4995
538.177
540.8679

(CAL.COST)
-29520
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046

48
49
50
51
52
53
54
55
56
57
58
59
60

6738.795
6192.505
5643.484
5091.717
4537.192
3979.893
3419.809
2856.924
2291.224
1722.697
1151.326
577.0986
0.00

579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984

36.41184
33.69398
30.96253
28.21742
25.45859
22.68596
19.89947
17.09904
14.28462
11.45612
8.613483
5.75663
2.885493

543.5722
546.2901
549.0215
551.7666
554.5255
557.2981
560.0846
562.885
565.6994
568.5279
571.3706
574.2274
577.0986

579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046

TIR(m)=

0.556%

ip=

6.88%

n=
m=
j(m)=
i(m)=
C0=
a=
nxm=
Com bancaria=
Gastos Estudio=
Interv fedatario=

5
12
0.06
0.005
30000
579.984
60
0.01
30
0.005

Comban=
G.estudio
Interv fed=
Gast- Cero=

300
30
150
1530

Subvencin=
aval SGR
com anual=
com aper=
Acciones=

2100
0.01
0.015
0.02

PRESTAMO CON AVAL Y SUBVENC


Cs
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
39
40
41
42
43
44
45
46
47
48
49
50

30000
29570.02
29137.88
28703.59
28267.12
27828.47
27387.63
26944.59
26499.32
26051.84
25602.11
25150.14
24695.9
24239.4
23780.61
23319.53
22856.15
22390.44
21922.41
21452.04
20979.32
20504.23
20026.76
19546.91
19064.66
18580
18092.92
17603.4
17111.43
16617.01
16120.11
15620.72
15118.84
14614.45
14107.54
13598.1
13086.1
12571.55
12054.42
11534.71
11012.4
10487.48
9959.931
9429.747
8896.912
8361.412
7823.235
7282.367
6738.795
6192.505
5643.484

I
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984

A
150
147.8501
145.6894
143.5179
141.3356
139.1424
136.9382
134.7229
132.4966
130.2592
128.0106
125.7507
123.4795
121.197
118.9031
116.5977
114.2807
111.9522
109.6121
107.2602
104.8966
102.5211
100.1338
97.73457
95.32332
92.90002
90.4646
88.017
85.55717
83.08503
80.60054
78.10362
75.59422
73.07227
70.53771
67.99048
65.43051
62.85774
60.27211
57.67355
55.062
52.43739
49.79966
47.14874
44.48456
41.80706
39.11618
36.41184
33.69398
30.96253

429.984
432.134
434.2946
436.4661
438.6484
440.8417
443.0459
445.2611
447.4874
449.7249
451.9735
454.2334
456.5045
458.787
461.081
463.3864
465.7033
468.0318
470.372
472.7239
475.0875
477.4629
479.8502
482.2495
484.6607
487.084
489.5194
491.967
494.4269
496.899
499.3835
501.8804
504.3898
506.9118
509.4463
511.9936
514.5535
517.1263
519.7119
522.3105
524.922
527.5467
530.1844
532.8353
535.4995
538.177
540.8679
543.5722
546.2901
549.0215

(CAL.COST)
-28470
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
-1273.0569
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
770.630696
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
710.84507
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
647.371998
579.984046
579.984046

51
52
53
54
55
56
57
58
59
60

5091.717
4537.192
3979.893
3419.809
2856.924
2291.224
1722.697
1151.326
577.0986
0.00

579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984

28.21742
25.45859
22.68596
19.89947
17.09904
14.28462
11.45612
8.613483
5.75663
2.885493

551.7666
554.5255
557.2981
560.0846
562.885
565.6994
568.5279
571.3706
574.2274
577.0986

579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
-20.015954

CON AVAL Y SUBVENCIN


Cap.adicionales

-1853.0409502

190.646649907

130.86102438

67.3879522895

TIR(m)=

0.461%

ip=

5.67%

-600

PRESTAMO CON AVAL

n=
m=
j(m)=
i(m)=
C0=
a=
nxm=
Com bancaria=
Gastos Estudio=
Interv fedatario=

0.06
0.005
30000
579.984
60
0.01
30
0.005

Comban=
G.estudio
Interv fed=
Gast- Cero=

300
30
150
1530

Subvencin=
aval SGR
com anual=
com aper=
Acciones=

2100

Cs

0.01
0.015
0.02

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
39
40
41
42
43
44
45
46
47

30000
29570.02
29137.88
28703.59
28267.12
27828.47
27387.63
26944.59
26499.32
26051.84
25602.11
25150.14
24695.9
24239.4
23780.61
23319.53
22856.15
22390.44
21922.41
21452.04
20979.32
20504.23
20026.76
19546.91
19064.66
18580
18092.92
17603.4
17111.43
16617.01
16120.11
15620.72
15118.84
14614.45
14107.54
13598.1
13086.1
12571.55
12054.42
11534.71
11012.4
10487.48
9959.931
9429.747
8896.912
8361.412
7823.235
7282.367

I
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984

A
150
147.8501
145.6894
143.5179
141.3356
139.1424
136.9382
134.7229
132.4966
130.2592
128.0106
125.7507
123.4795
121.197
118.9031
116.5977
114.2807
111.9522
109.6121
107.2602
104.8966
102.5211
100.1338
97.73457
95.32332
92.90002
90.4646
88.017
85.55717
83.08503
80.60054
78.10362
75.59422
73.07227
70.53771
67.99048
65.43051
62.85774
60.27211
57.67355
55.062
52.43739
49.79966
47.14874
44.48456
41.80706
39.11618

429.984
432.134
434.2946
436.4661
438.6484
440.8417
443.0459
445.2611
447.4874
449.7249
451.9735
454.2334
456.5045
458.787
461.081
463.3864
465.7033
468.0318
470.372
472.7239
475.0875
477.4629
479.8502
482.2495
484.6607
487.084
489.5194
491.967
494.4269
496.899
499.3835
501.8804
504.3898
506.9118
509.4463
511.9936
514.5535
517.1263
519.7119
522.3105
524.922
527.5467
530.1844
532.8353
535.4995
538.177
540.8679

(CAL.COST
-28470
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
826.9431
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
770.6307
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
710.8451
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984

48
49
50
51
52
53
54
55
56
57
58
59
60

6738.795
6192.505
5643.484
5091.717
4537.192
3979.893
3419.809
2856.924
2291.224
1722.697
1151.326
577.0986
0.00

579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984

36.41184
33.69398
30.96253
28.21742
25.45859
22.68596
19.89947
17.09904
14.28462
11.45612
8.613483
5.75663
2.885493

543.5722 647.372
546.2901 579.984
549.0215 579.984
551.7666 579.984
554.5255 579.984
557.2981 579.984
560.0846 579.984
562.885 579.984
565.6994 579.984
568.5279 579.984
571.3706 579.984
574.2274 579.984
577.0986 -20.01595

Cap.adicionales

246.959049827

190.646649907

130.86102438

TIR(m)=

0.701%

ip=

8.75%

67.3879522895

-600

n=
m=
j(m)=
i(m)=
C0=
a=
nxm=
Com bancaria=
astos Estudio=
nterv fedatario=

5
12
0.06
0.005
30000
579.984
60
0.01
30
0.005

Comban=
G.estudio
Interv fed=
Gast- Cero=

300
30
150
480

Subvencin=
aval SGR
com anual=
com aper=
Acciones=

2100
0.01
0.015
0.02

PRESTAMO CON SUBVENCIN


Cs
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
39
40
41
42
43
44
45
46
47

30000
29570.02
29137.88
28703.59
28267.12
27828.47
27387.63
26944.59
26499.32
26051.84
25602.11
25150.14
24695.9
24239.4
23780.61
23319.53
22856.15
22390.44
21922.41
21452.04
20979.32
20504.23
20026.76
19546.91
19064.66
18580
18092.92
17603.4
17111.43
16617.01
16120.11
15620.72
15118.84
14614.45
14107.54
13598.1
13086.1
12571.55
12054.42
11534.71
11012.4
10487.48
9959.931
9429.747
8896.912
8361.412
7823.235
7282.367

I
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984

A
150
147.8501
145.6894
143.5179
141.3356
139.1424
136.9382
134.7229
132.4966
130.2592
128.0106
125.7507
123.4795
121.197
118.9031
116.5977
114.2807
111.9522
109.6121
107.2602
104.8966
102.5211
100.1338
97.73457
95.32332
92.90002
90.4646
88.017
85.55717
83.08503
80.60054
78.10362
75.59422
73.07227
70.53771
67.99048
65.43051
62.85774
60.27211
57.67355
55.062
52.43739
49.79966
47.14874
44.48456
41.80706
39.11618

429.984
432.134
434.2946
436.4661
438.6484
440.8417
443.0459
445.2611
447.4874
449.7249
451.9735
454.2334
456.5045
458.787
461.081
463.3864
465.7033
468.0318
470.372
472.7239
475.0875
477.4629
479.8502
482.2495
484.6607
487.084
489.5194
491.967
494.4269
496.899
499.3835
501.8804
504.3898
506.9118
509.4463
511.9936
514.5535
517.1263
519.7119
522.3105
524.922
527.5467
530.1844
532.8353
535.4995
538.177
540.8679

(CAL.COST)
-29520
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
-1520.01595
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046

48
49
50
51
52
53
54
55
56
57
58
59
60

6738.795
6192.505
5643.484
5091.717
4537.192
3979.893
3419.809
2856.924
2291.224
1722.697
1151.326
577.0986
0.00

579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984
579.984

36.41184
33.69398
30.96253
28.21742
25.45859
22.68596
19.89947
17.09904
14.28462
11.45612
8.613483
5.75663
2.885493

543.5722
546.2901
549.0215
551.7666
554.5255
557.2981
560.0846
562.885
565.6994
568.5279
571.3706
574.2274
577.0986

579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046
579.984046

ON SUBVENCIN
Cap.adicionales

-2100

TIR(m)=

0.328%

ip=

4.01%

Ejercicio 2. Una pareja decide comprarse un piso de segunda mano cuyo precio es de 86.545
financiera que les ofrece las siguientes condiciones:

* capital prestado: 80% del valor de tasacin (108.182 )


* tipo de inters nominal variable anualmente indiciado al euribor ms 0,75 puntos.
* euribor en el momento inicial del 2,54%
* duracin de la operacin: 15 aos
* amortizacin mensual por el mtodo francs.
* comisin de apertura del 1% mnimo 500
* tasacin 1% mnimo 150
* seguro de 60
* comisin de cancelacin anticipada, total o parcial, de1%
Los gastos no financieros derivados del hecho de la adquisicin del inmueble ascienden a 2.400
Calcular los parmetros (cuadro de amortizacin) y el coste y rendimiento de esta operacin en e
permanezcan constantes a lo largo de la operacin.

Como se modificaran las condiciones si las variaciones del euribor son las siguientes: ao
mantiene en el 2,7%?
Como se modifica el coste y el rendimiento si existe cancelacin anticipada de 6.000 al final d

PRESTAMO INDICIADO
Construir el cuadro de amortizacin de una operacin con las siguientes caractersticas:
Capital prestado = 80.00%
valor tasacin
Inters indiciado
comisin= 1.00%
Duracin = 15 aos
tasacin= 1.00%
rminos amortizativos mensuales
Revisin anual
valor de tasacin= 108182

J(12)= 2.54%
m=
n=
n*m=
i=
C0 =
Gastos y comisiones=
1% banco y 3% notarias etc.
Perodo
Origen
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

12
15
180
0.21%
(86,546)
1730.912

a= 579

Rdito
Trmino
Cuota de Cuota de
Capital
perodo amortizativo inters amortizacinamortizado
(84,815)
0.21%
579
183
396
396
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%

579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579

182
182
181
180
179
178
177
176
176
175
174
173
172
171
170
170
169
168
167
166
165
164
163
163
162
161
160
159

396
397
398
399
400
401
401
402
403
404
405
406
407
407
408
409
410
411
412
413
413
414
415
416
417
418
419
420

792
1,189
1,587
1,986
2,386
2,786
3,188
3,590
3,993
4,397
4,802
5,208
5,614
6,022
6,430
6,839
7,249
7,660
8,071
8,484
8,898
9,312
9,727
10,143
10,560
10,978
11,397
11,817

30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79

0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%

579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579

158
157
156
156
155
154
153
152
151
150
149
148
147
146
146
145
144
143
142
141
140
139
138
137
136
135
134
133
133
132
131
130
129
128
127
126
125
124
123
122
121
120
119
118
117
116
115
114
113
112

421
421
422
423
424
425
426
427
428
429
430
430
431
432
433
434
435
436
437
438
439
440
441
441
442
443
444
445
446
447
448
449
450
451
452
453
454
455
456
457
458
459
460
461
462
463
463
464
465
466

12,237
12,658
13,081
13,504
13,928
14,353
14,779
15,206
15,634
16,062
16,492
16,922
17,353
17,786
18,219
18,653
19,088
19,524
19,961
20,398
20,837
21,277
21,717
22,159
22,601
23,045
23,489
23,934
24,380
24,827
25,276
25,725
26,174
26,625
27,077
27,530
27,984
28,439
28,894
29,351
29,809
30,267
30,727
31,187
31,649
32,112
32,575
33,039
33,505
33,971

80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
101
102
103
104
105
106
107
108
109
110
111
112
113
114
115
116
117
118
119
120
121
122
123
124
125
126
127
128
129

0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%

579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579

111
110
109
108
107
106
105
104
103
102
101
100
99
98
97
96
95
94
93
92
91
90
89
88
87
86
85
84
83
82
81
80
79
78
76
75
74
73
72
71
70
69
68
67
66
65
64
62
61
60

467
468
469
470
471
472
473
474
475
476
477
478
479
480
481
482
484
485
486
487
488
489
490
491
492
493
494
495
496
497
498
499
500
501
502
503
504
505
507
508
509
510
511
512
513
514
515
516
517
518

34,439
34,907
35,377
35,847
36,318
36,791
37,264
37,739
38,214
38,690
39,168
39,646
40,126
40,606
41,088
41,570
42,054
42,538
43,024
43,510
43,998
44,487
44,976
45,467
45,959
46,451
46,945
47,440
47,936
48,433
48,931
49,430
49,930
50,432
50,934
51,437
51,942
52,447
52,954
53,461
53,970
54,480
54,990
55,502
56,015
56,529
57,045
57,561
58,078
58,597

130
131
132
133
134
135
136
137
138
139
140
141
142
143
144
145
146
147
148
149
150
151
152
153
154
155
156
157
158
159
160
161
162
163
164
165
166
167
168
169
170
171
172
173
174
175
176
177
178
179

0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%

579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579

59
58
57
56
55
54
53
51
50
49
48
47
46
45
44
42
41
40
39
38
37
36
34
33
32
31
30
29
27
26
25
24
23
22
20
19
18
17
16
14
13
12
11
10
9
7
6
5
4
2

520
521
522
523
524
525
526
527
528
530
531
532
533
534
535
536
537
539
540
541
542
543
544
545
547
548
549
550
551
552
554
555
556
557
558
559
561
562
563
564
565
567
568
569
570
571
573
574
575
576

59,116
59,637
60,159
60,682
61,205
61,731
62,257
62,784
63,312
63,842
64,373
64,904
65,437
65,971
66,506
67,043
67,580
68,119
68,658
69,199
69,741
70,284
70,829
71,374
71,921
72,469
73,017
73,568
74,119
74,671
75,225
75,779
76,335
76,892
77,451
78,010
78,571
79,133
79,696
80,260
80,825
81,392
81,960
82,529
83,099
83,670
84,243
84,817
85,392
85,968

180

0.21%

579

577

86,546

865.46
865.46

Capital
vivo
86,546
86,150
85,754
85,357
84,958
84,560
84,160
83,759
83,358
82,956
82,553
82,149
81,744
81,338
80,931
80,524
80,116
79,707
79,297
78,886
78,474
78,062
77,648
77,234
76,818
76,402
75,985
75,567
75,149
74,729

0.24%

2.865% =coste efectivo

74,309
73,887
73,465
73,042
72,617
72,192
71,767
71,340
70,912
70,483
70,054
69,624
69,192
68,760
68,327
67,893
67,458
67,022
66,585
66,147
65,708
65,269
64,828
64,387
63,944
63,501
63,057
62,611
62,165
61,718
61,270
60,821
60,371
59,920
59,468
59,015
58,562
58,107
57,651
57,195
56,737
56,278
55,819
55,358
54,897
54,434
53,971
53,506
53,041
52,574

52,107
51,638
51,169
50,699
50,227
49,755
49,281
48,807
48,332
47,855
47,378
46,899
46,420
45,939
45,458
44,976
44,492
44,007
43,522
43,035
42,548
42,059
41,569
41,079
40,587
40,094
39,600
39,105
38,609
38,112
37,614
37,115
36,615
36,114
35,612
35,108
34,604
34,099
33,592
33,084
32,576
32,066
31,555
31,043
30,530
30,016
29,501
28,985
28,467
27,949

27,429
26,909
26,387
25,864
25,340
24,815
24,289
23,762
23,233
22,704
22,173
21,641
21,108
20,574
20,039
19,503
18,965
18,427
17,887
17,346
16,804
16,261
15,717
15,171
14,625
14,077
13,528
12,978
12,427
11,874
11,321
10,766
10,210
9,653
9,095
8,535
7,975
7,413
6,850
6,286
5,720
5,154
4,586
4,017
3,447
2,875
2,303
1,729
1,154
577

PRESTAMO INDICIADO
Construir el cuadro de amortizacin de una operacin con las siguientes caractersticas:
apital prestado = 80.00%
valor tasacin
Inters indiciado
comisin=
uracin = 15 aos
tasacin=
zativos mensuales
Revisin anual
valor de tasacin= 108182

J(12)= 2.54%
m=
n=
n*m=
i=
C0 =
os y comisiones=
Perodo

12
15
180
0.21%
(86,546)
1730.912
Rdito
perodo

a= 579

Origen
1

0.21%

Trmino
amortizativo
(84,815)
579

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

0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%

579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579

Cuota de
inters

Cuota de
amortizacin

183

396

182
182
181
180
179
178
177
176
176
175
174
173
172
171
170
170
169
168
167
166
165
164
163
163
162
161
160
159

396
397
398
399
400
401
401
402
403
404
405
406
407
407
408
409
410
411
412
413
413
414
415
416
417
418
419
420

30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79

0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%

579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579

158
157
156
156
155
154
153
152
151
150
149
148
147
146
146
145
144
143
142
141
140
139
138
137
136
135
134
133
133
132
131
130
129
128
127
126
125
124
123
122
121
120
119
118
117
116
115
114
113
112

421
421
422
423
424
425
426
427
428
429
430
430
431
432
433
434
435
436
437
438
439
440
441
441
442
443
444
445
446
447
448
449
450
451
452
453
454
455
456
457
458
459
460
461
462
463
463
464
465
466

80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
101
102
103
104
105
106
107
108
109
110
111
112
113
114
115
116
117
118
119
120
121
122
123
124
125
126
127
128
129

0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%

579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579

111
110
109
108
107
106
105
104
103
102
101
100
99
98
97
96
95
94
93
92
91
90
89
88
87
86
85
84
83
82
81
80
79
78
76
75
74
73
72
71
70
69
68
67
66
65
64
62
61
60

467
468
469
470
471
472
473
474
475
476
477
478
479
480
481
482
484
485
486
487
488
489
490
491
492
493
494
495
496
497
498
499
500
501
502
503
504
505
507
508
509
510
511
512
513
514
515
516
517
518

130
131
132
133
134
135
136
137
138
139
140
141
142
143
144
145
146
147
148
149
150
151
152
153
154
155
156
157
158
159
160
161
162
163
164
165
166
167
168
169
170
171
172
173
174
175
176
177
178
179

0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%

579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579

59
58
57
56
55
54
53
51
50
49
48
47
46
45
44
42
41
40
39
38
37
36
34
33
32
31
30
29
27
26
25
24
23
22
20
19
18
17
16
14
13
12
11
10
9
7
6
5
4
2

520
521
522
523
524
525
526
527
528
530
531
532
533
534
535
536
537
539
540
541
542
543
544
545
547
548
549
550
551
552
554
555
556
557
558
559
561
562
563
564
565
567
568
569
570
571
573
574
575
576

180

0.21%

579

577

j(12) =

2.74%

j(12) =

3.75%

Cuota de
inters

Cuota de
amortizacin

183

396

182
182
181
180
179
178
177
176
176
175
174
255
254
253
252
251
250
248
247
246
245
244
243
241
240
239
238

396
397
398
399
400
401
401
402
403
404
405
371
372
373
374
375
377
378
379
380
381
382
384
385
386
387
388

PRIMER AO
n = 180
i= 0.23%
C0 = (86,546)

a= 579

SEGUNDO AO
n = 168
i= 0.31%
C0 = (81,744)
Perodo

Rdito
perodo

Origen
1

0.21%

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

0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%

a= 626

Trmino
amortizativo
(84,815)
579
579
579
579
579
579
579
579
579
579
579
579
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626

29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78

0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%

626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626

236
235
234
233
232
230
229
228
227
225
224
223
222
220
219
218
217
215
214
213
211
210
209
207
206
205
204
202
201
200
198
197
196
194
193
192
190
189
187
186
185
183
182
181
179
178
176
175
174
172

390
391
392
393
395
396
397
398
400
401
402
403
405
406
407
408
410
411
412
413
415
416
417
419
420
421
423
424
425
427
428
429
431
432
433
435
436
437
439
440
441
443
444
446
447
448
450
451
453
454

79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
101
102
103
104
105
106
107
108
109
110
111
112
113
114
115
116
117
118
119
120
121
122
123
124
125
126
127
128

0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%

626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626

171
169
168
166
165
164
162
161
159
158
156
155
153
152
150
149
147
146
144
143
141
140
138
137
135
134
132
131
129
128
126
124
123
121
120
118
117
115
113
112
110
109
107
105
104
102
100
99
97
95

455
457
458
460
461
463
464
466
467
468
470
471
473
474
476
477
479
480
482
483
485
486
488
489
491
492
494
496
497
499
500
502
503
505
506
508
510
511
513
514
516
518
519
521
523
524
526
527
529
531

129
130
131
132
133
134
135
136
137
138
139
140
141
142
143
144
145
146
147
148
149
150
151
152
153
154
155
156
157
158
159
160
161
162
163
164
165
166
167
168
169
170
171
172
173
174
175
176
177
178

0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%

626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626

94
92
90
89
87
85
84
82
80
79
77
75
73
72
70
68
67
65
63
61
59
58
56
54
52
51
49
47
45
43
42
40
38
36
34
32
30
29
27
25
23
21
19
17
15
14
12
10
8
6

532
534
536
537
539
541
542
544
546
548
549
551
553
554
556
558
560
561
563
565
567
568
570
572
574
576
577
579
581
583
585
586
588
590
592
594
596
598
599
601
603
605
607
609
611
613
615
616
618
620

179
180

0.31%
0.31%

626
626

4
2

622
624

caractersticas:
1.00%
1.00%

865.46
865.46

Capital
amortizado
396

Capital
vivo
86,546
86,150

792
1,189
1,587
1,986
2,386
2,786
3,188
3,590
3,993
4,397
4,802
5,208
5,614
6,022
6,430
6,839
7,249
7,660
8,071
8,484
8,898
9,312
9,727
10,143
10,560
10,978
11,397
11,817

85,754
85,357
84,958
84,560
84,160
83,759
83,358
82,956
82,553
82,149
81,744
81,338
80,931
80,524
80,116
79,707
79,297
78,886
78,474
78,062
77,648
77,234
76,818
76,402
75,985
75,567
75,149
74,729

0.24%

2.865%

12,237
12,658
13,081
13,504
13,928
14,353
14,779
15,206
15,634
16,062
16,492
16,922
17,353
17,786
18,219
18,653
19,088
19,524
19,961
20,398
20,837
21,277
21,717
22,159
22,601
23,045
23,489
23,934
24,380
24,827
25,276
25,725
26,174
26,625
27,077
27,530
27,984
28,439
28,894
29,351
29,809
30,267
30,727
31,187
31,649
32,112
32,575
33,039
33,505
33,971

74,309
73,887
73,465
73,042
72,617
72,192
71,767
71,340
70,912
70,483
70,054
69,624
69,192
68,760
68,327
67,893
67,458
67,022
66,585
66,147
65,708
65,269
64,828
64,387
63,944
63,501
63,057
62,611
62,165
61,718
61,270
60,821
60,371
59,920
59,468
59,015
58,562
58,107
57,651
57,195
56,737
56,278
55,819
55,358
54,897
54,434
53,971
53,506
53,041
52,574

34,439
34,907
35,377
35,847
36,318
36,791
37,264
37,739
38,214
38,690
39,168
39,646
40,126
40,606
41,088
41,570
42,054
42,538
43,024
43,510
43,998
44,487
44,976
45,467
45,959
46,451
46,945
47,440
47,936
48,433
48,931
49,430
49,930
50,432
50,934
51,437
51,942
52,447
52,954
53,461
53,970
54,480
54,990
55,502
56,015
56,529
57,045
57,561
58,078
58,597

52,107
51,638
51,169
50,699
50,227
49,755
49,281
48,807
48,332
47,855
47,378
46,899
46,420
45,939
45,458
44,976
44,492
44,007
43,522
43,035
42,548
42,059
41,569
41,079
40,587
40,094
39,600
39,105
38,609
38,112
37,614
37,115
36,615
36,114
35,612
35,108
34,604
34,099
33,592
33,084
32,576
32,066
31,555
31,043
30,530
30,016
29,501
28,985
28,467
27,949

59,116
59,637
60,159
60,682
61,205
61,731
62,257
62,784
63,312
63,842
64,373
64,904
65,437
65,971
66,506
67,043
67,580
68,119
68,658
69,199
69,741
70,284
70,829
71,374
71,921
72,469
73,017
73,568
74,119
74,671
75,225
75,779
76,335
76,892
77,451
78,010
78,571
79,133
79,696
80,260
80,825
81,392
81,960
82,529
83,099
83,670
84,243
84,817
85,392
85,968

27,429
26,909
26,387
25,864
25,340
24,815
24,289
23,762
23,233
22,704
22,173
21,641
21,108
20,574
20,039
19,503
18,965
18,427
17,887
17,346
16,804
16,261
15,717
15,171
14,625
14,077
13,528
12,978
12,427
11,874
11,321
10,766
10,210
9,653
9,095
8,535
7,975
7,413
6,850
6,286
5,720
5,154
4,586
4,017
3,447
2,875
2,303
1,729
1,154
577

86,546

Capital
amortizado
396

Capital
vivo
86,546
86,150

792
1,189
1,587
1,986
2,386
2,786
3,188
3,590
3,993
4,397
4,802
5,173
5,544
5,917
6,292
6,667
7,044
7,421
7,800
8,180
8,562
8,944
9,328
9,713
10,099
10,486
10,874

85,754
85,357
84,958
84,560
84,160
83,759
83,358
82,956
82,553
82,149
81,744
81,373
81,001
80,628
80,254
79,879
79,502
79,124
78,745
78,365
77,984
77,602
77,218
76,833
76,447
76,060
75,671

0.32%

3.945%

11,264
11,655
12,047
12,440
12,835
13,231
13,628
14,026
14,426
14,827
15,229
15,632
16,036
16,442
16,849
17,258
17,667
18,078
18,490
18,904
19,319
19,735
20,152
20,571
20,991
21,412
21,835
22,259
22,684
23,111
23,538
23,968
24,398
24,830
25,264
25,698
26,134
26,572
27,010
27,450
27,892
28,335
28,779
29,225
29,672
30,120
30,570
31,021
31,474
31,928

75,282
74,891
74,499
74,105
73,711
73,315
72,918
72,519
72,120
71,719
71,317
70,914
70,509
70,103
69,696
69,288
68,878
68,467
68,055
67,642
67,227
66,811
66,393
65,975
65,555
65,133
64,711
64,287
63,862
63,435
63,007
62,578
62,147
61,715
61,282
60,847
60,411
59,974
59,535
59,095
58,654
58,211
57,766
57,321
56,874
56,425
55,976
55,524
55,072
54,618

32,383
32,840
33,299
33,758
34,220
34,682
35,146
35,612
36,079
36,547
37,017
37,489
37,962
38,436
38,912
39,389
39,868
40,348
40,830
41,313
41,798
42,284
42,772
43,262
43,752
44,245
44,739
45,234
45,731
46,230
46,730
47,232
47,735
48,240
48,747
49,255
49,764
50,276
50,788
51,303
51,819
52,336
52,856
53,377
53,899
54,423
54,949
55,476
56,005
56,536

54,162
53,705
53,247
52,787
52,326
51,863
51,399
50,934
50,467
49,998
49,528
49,057
48,584
48,110
47,634
47,157
46,678
46,197
45,716
45,232
44,748
44,261
43,773
43,284
42,793
42,301
41,807
41,311
40,814
40,316
39,815
39,314
38,810
38,305
37,799
37,291
36,781
36,270
35,757
35,243
34,727
34,209
33,690
33,169
32,647
32,122
31,597
31,069
30,540
30,009

57,069
57,603
58,138
58,676
59,215
59,756
60,298
60,842
61,388
61,936
62,485
63,036
63,588
64,143
64,699
65,257
65,817
66,378
66,941
67,506
68,073
68,641
69,211
69,783
70,357
70,933
71,510
72,089
72,670
73,253
73,838
74,424
75,012
75,602
76,194
76,788
77,384
77,981
78,581
79,182
79,785
80,390
80,997
81,606
82,217
82,829
83,444
84,060
84,679
85,299

29,477
28,943
28,407
27,870
27,331
26,790
26,248
25,703
25,158
24,610
24,061
23,510
22,957
22,403
21,847
21,289
20,729
20,168
19,605
19,040
18,473
17,905
17,334
16,762
16,189
15,613
15,036
14,456
13,875
13,293
12,708
12,122
11,533
10,943
10,351
9,757
9,162
8,564
7,965
7,364
6,760
6,155
5,548
4,940
4,329
3,716
3,102
2,485
1,867
1,246

85,921
86,546

624
0

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

=coste efectivo

=coste efectivo

PRESTAMO INDICIADO
Construir el cuadro de amortizacin de una operacin con las siguientes caractersticas:
Capital prestado = 80.00%
valor tasacin
Inters indiciado
comisin= 1.00%
865.46
Duracin = 15 aos
tasacin= 1.00%
865.46
amortizativos mensuales
Revisin anual
valor de tasacin= 108182

J(12)= 2.54%
m=
n=
n*m=
i=
C0 =
Gastos y comisiones=
Perodo
Origen
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

12
15
180
0.21%
(86,546)
1730.912

a= 579

Rdito
Trmino
Cuota de Cuota de
Capital
perodo amortizativo inters amortizacinamortizado
(84,815)
0.21%
579
183
396
396
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%

579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579

182
182
181
180
179
178
177
176
176
175
174
173
172
171
170
170
169
168
167
166
165
164
163
163
162
161
160
159

396
397
398
399
400
401
401
402
403
404
405
406
407
407
408
409
410
411
412
413
413
414
415
416
417
418
419
420

792
1,189
1,587
1,986
2,386
2,786
3,188
3,590
3,993
4,397
4,802
5,208
5,614
6,022
6,430
6,839
7,249
7,660
8,071
8,484
8,898
9,312
9,727
10,143
10,560
10,978
11,397
11,817

Capital
vivo
86,546
86,150
85,754
85,357
84,958
84,560
84,160
83,759
83,358
82,956
82,553
82,149
81,744
81,338
80,931
80,524
80,116
79,707
79,297
78,886
78,474
78,062
77,648
77,234
76,818
76,402
75,985
75,567
75,149
74,729

30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79

0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%

579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579

158
157
156
156
155
154
153
152
151
150
149
148
147
146
146
145
144
143
142
141
140
139
138
137
136
135
134
133
133
132
131
130
129
128
127
126
125
124
123
122
121
120
119
118
117
116
115
114
113
112

421
421
422
423
424
425
426
427
428
429
430
430
431
432
433
434
435
436
437
438
439
440
441
441
442
443
444
445
446
447
448
449
450
451
452
453
454
455
456
457
458
459
460
461
462
463
463
464
465
466

12,237
12,658
13,081
13,504
13,928
14,353
14,779
15,206
15,634
16,062
16,492
16,922
17,353
17,786
18,219
18,653
19,088
19,524
19,961
20,398
20,837
21,277
21,717
22,159
22,601
23,045
23,489
23,934
24,380
24,827
25,276
25,725
26,174
26,625
27,077
27,530
27,984
28,439
28,894
29,351
29,809
30,267
30,727
31,187
31,649
32,112
32,575
33,039
33,505
33,971

74,309
73,887
73,465
73,042
72,617
72,192
71,767
71,340
70,912
70,483
70,054
69,624
69,192
68,760
68,327
67,893
67,458
67,022
66,585
66,147
65,708
65,269
64,828
64,387
63,944
63,501
63,057
62,611
62,165
61,718
61,270
60,821
60,371
59,920
59,468
59,015
58,562
58,107
57,651
57,195
56,737
56,278
55,819
55,358
54,897
54,434
53,971
53,506
53,041
52,574

80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
101
102
103
104
105
106
107
108
109
110
111
112
113
114
115
116
117
118
119
120
121
122
123
124
125
126
127
128
129

0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%

579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579

111
110
109
108
107
106
105
104
103
102
101
100
99
98
97
96
95
94
93
92
91
90
89
88
87
86
85
84
83
82
81
80
79
78
76
75
74
73
72
71
70
69
68
67
66
65
64
62
61
60

467
468
469
470
471
472
473
474
475
476
477
478
479
480
481
482
484
485
486
487
488
489
490
491
492
493
494
495
496
497
498
499
500
501
502
503
504
505
507
508
509
510
511
512
513
514
515
516
517
518

34,439
34,907
35,377
35,847
36,318
36,791
37,264
37,739
38,214
38,690
39,168
39,646
40,126
40,606
41,088
41,570
42,054
42,538
43,024
43,510
43,998
44,487
44,976
45,467
45,959
46,451
46,945
47,440
47,936
48,433
48,931
49,430
49,930
50,432
50,934
51,437
51,942
52,447
52,954
53,461
53,970
54,480
54,990
55,502
56,015
56,529
57,045
57,561
58,078
58,597

52,107
51,638
51,169
50,699
50,227
49,755
49,281
48,807
48,332
47,855
47,378
46,899
46,420
45,939
45,458
44,976
44,492
44,007
43,522
43,035
42,548
42,059
41,569
41,079
40,587
40,094
39,600
39,105
38,609
38,112
37,614
37,115
36,615
36,114
35,612
35,108
34,604
34,099
33,592
33,084
32,576
32,066
31,555
31,043
30,530
30,016
29,501
28,985
28,467
27,949

130
131
132
133
134
135
136
137
138
139
140
141
142
143
144
145
146
147
148
149
150
151
152
153
154
155
156
157
158
159
160
161
162
163
164
165
166
167
168
169
170
171
172
173
174
175
176
177
178
179

0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%

579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579

59
58
57
56
55
54
53
51
50
49
48
47
46
45
44
42
41
40
39
38
37
36
34
33
32
31
30
29
27
26
25
24
23
22
20
19
18
17
16
14
13
12
11
10
9
7
6
5
4
2

520
521
522
523
524
525
526
527
528
530
531
532
533
534
535
536
537
539
540
541
542
543
544
545
547
548
549
550
551
552
554
555
556
557
558
559
561
562
563
564
565
567
568
569
570
571
573
574
575
576

59,116
59,637
60,159
60,682
61,205
61,731
62,257
62,784
63,312
63,842
64,373
64,904
65,437
65,971
66,506
67,043
67,580
68,119
68,658
69,199
69,741
70,284
70,829
71,374
71,921
72,469
73,017
73,568
74,119
74,671
75,225
75,779
76,335
76,892
77,451
78,010
78,571
79,133
79,696
80,260
80,825
81,392
81,960
82,529
83,099
83,670
84,243
84,817
85,392
85,968

27,429
26,909
26,387
25,864
25,340
24,815
24,289
23,762
23,233
22,704
22,173
21,641
21,108
20,574
20,039
19,503
18,965
18,427
17,887
17,346
16,804
16,261
15,717
15,171
14,625
14,077
13,528
12,978
12,427
11,874
11,321
10,766
10,210
9,653
9,095
8,535
7,975
7,413
6,850
6,286
5,720
5,154
4,586
4,017
3,447
2,875
2,303
1,729
1,154
577

180

0.21%

579

PRIMER AO
n = 180
i= 0.21%
C0 = (86,546)

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

j(12) =

2.54%

j(12) =

n = 168
i= 0.31%
C0 = (81,744)

Origen
1

577

86,546

3.75%

a= 626

Rdito
Trmino
Cuota de Cuota de
Capital
perodo amortizativo inters amortizacinamortizado
(84,815)
0.21%
579
183
396
396
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%

a= 579

SEGUNDO AO

Perodo

579
579
579
579
579
579
579
579
579
579
579
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626

182
182
181
180
179
178
177
176
176
175
174
255
254
253
252
251
250
248
247
246
245
244
243
241
240
239
238

396
397
398
399
400
401
401
402
403
404
405
371
372
373
374
375
377
378
379
380
381
382
384
385
386
387
388

792
1,189
1,587
1,986
2,386
2,786
3,188
3,590
3,993
4,397
4,802
5,173
5,544
5,917
6,292
6,667
7,044
7,421
7,800
8,180
8,562
8,944
9,328
9,713
10,099
10,486
10,874

Capital
vivo
86,546
86,150
85,754
85,357
84,958
84,560
84,160
83,759
83,358
82,956
82,553
82,149
81,744
81,373
81,001
80,628
80,254
79,879
79,502
79,124
78,745
78,365
77,984
77,602
77,218
76,833
76,447
76,060
75,671

29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78

0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%

626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626

236
235
234
233
232
230
229
228
227
225
224
223
222
220
219
218
217
215
214
213
211
210
209
207
206
205
204
202
201
200
198
197
196
194
193
192
190
189
187
186
185
183
182
181
179
178
176
175
174
172

390
391
392
393
395
396
397
398
400
401
402
403
405
406
407
408
410
411
412
413
415
416
417
419
420
421
423
424
425
427
428
429
431
432
433
435
436
437
439
440
441
443
444
446
447
448
450
451
453
454

11,264
11,655
12,047
12,440
12,835
13,231
13,628
14,026
14,426
14,827
15,229
15,632
16,036
16,442
16,849
17,258
17,667
18,078
18,490
18,904
19,319
19,735
20,152
20,571
20,991
21,412
21,835
22,259
22,684
23,111
23,538
23,968
24,398
24,830
25,264
25,698
26,134
26,572
27,010
27,450
27,892
28,335
28,779
29,225
29,672
30,120
30,570
31,021
31,474
31,928

75,282
74,891
74,499
74,105
73,711
73,315
72,918
72,519
72,120
71,719
71,317
70,914
70,509
70,103
69,696
69,288
68,878
68,467
68,055
67,642
67,227
66,811
66,393
65,975
65,555
65,133
64,711
64,287
63,862
63,435
63,007
62,578
62,147
61,715
61,282
60,847
60,411
59,974
59,535
59,095
58,654
58,211
57,766
57,321
56,874
56,425
55,976
55,524
55,072
54,618

79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
101
102
103
104
105
106
107
108
109
110
111
112
113
114
115
116
117
118
119
120
121
122
123
124
125
126
127
128

0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%

626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626

171
169
168
166
165
164
162
161
159
158
156
155
153
152
150
149
147
146
144
143
141
140
138
137
135
134
132
131
129
128
126
124
123
121
120
118
117
115
113
112
110
109
107
105
104
102
100
99
97
95

455
457
458
460
461
463
464
466
467
468
470
471
473
474
476
477
479
480
482
483
485
486
488
489
491
492
494
496
497
499
500
502
503
505
506
508
510
511
513
514
516
518
519
521
523
524
526
527
529
531

32,383
32,840
33,299
33,758
34,220
34,682
35,146
35,612
36,079
36,547
37,017
37,489
37,962
38,436
38,912
39,389
39,868
40,348
40,830
41,313
41,798
42,284
42,772
43,262
43,752
44,245
44,739
45,234
45,731
46,230
46,730
47,232
47,735
48,240
48,747
49,255
49,764
50,276
50,788
51,303
51,819
52,336
52,856
53,377
53,899
54,423
54,949
55,476
56,005
56,536

54,162
53,705
53,247
52,787
52,326
51,863
51,399
50,934
50,467
49,998
49,528
49,057
48,584
48,110
47,634
47,157
46,678
46,197
45,716
45,232
44,748
44,261
43,773
43,284
42,793
42,301
41,807
41,311
40,814
40,316
39,815
39,314
38,810
38,305
37,799
37,291
36,781
36,270
35,757
35,243
34,727
34,209
33,690
33,169
32,647
32,122
31,597
31,069
30,540
30,009

129
130
131
132
133
134
135
136
137
138
139
140
141
142
143
144
145
146
147
148
149
150
151
152
153
154
155
156
157
158
159
160
161
162
163
164
165
166
167
168
169
170
171
172
173
174
175
176
177
178

0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%

626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626

94
92
90
89
87
85
84
82
80
79
77
75
73
72
70
68
67
65
63
61
59
58
56
54
52
51
49
47
45
43
42
40
38
36
34
32
30
29
27
25
23
21
19
17
15
14
12
10
8
6

532
534
536
537
539
541
542
544
546
548
549
551
553
554
556
558
560
561
563
565
567
568
570
572
574
576
577
579
581
583
585
586
588
590
592
594
596
598
599
601
603
605
607
609
611
613
615
616
618
620

57,069
57,603
58,138
58,676
59,215
59,756
60,298
60,842
61,388
61,936
62,485
63,036
63,588
64,143
64,699
65,257
65,817
66,378
66,941
67,506
68,073
68,641
69,211
69,783
70,357
70,933
71,510
72,089
72,670
73,253
73,838
74,424
75,012
75,602
76,194
76,788
77,384
77,981
78,581
79,182
79,785
80,390
80,997
81,606
82,217
82,829
83,444
84,060
84,679
85,299

29,477
28,943
28,407
27,870
27,331
26,790
26,248
25,703
25,158
24,610
24,061
23,510
22,957
22,403
21,847
21,289
20,729
20,168
19,605
19,040
18,473
17,905
17,334
16,762
16,189
15,613
15,036
14,456
13,875
13,293
12,708
12,122
11,533
10,943
10,351
9,757
9,162
8,564
7,965
7,364
6,760
6,155
5,548
4,940
4,329
3,716
3,102
2,485
1,867
1,246

179
180

0.31%
0.31%
PRIMER AO

626
626

n = 180
i= 0.21%
C0 = 0

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

85,921
86,546

n=

j(12) =

n = 168
i= 0.31%
C0 = (81,744)

Origen
1

622
624
2.54%

a= 579

SEGUNDO AO

Perodo

4
2
j(12) =

624
0
TERCER AO

156
i= 0.29%
C0 = (77,218)

3.75%

a= 615

a= 626

Rdito
Trmino
Cuota de Cuota de
Capital
perodo amortizativo inters amortizacinamortizado
(84,815)
0.21%
579
183
396
396
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%

579
579
579
579
579
579
579
579
579
579
579
626
626
626
626
626
626
626
626
626
626
626
626
615
615
615
615
615
615
615
615
615

182
182
181
180
179
178
177
176
176
175
174
255
254
253
252
251
250
248
247
246
245
244
243
222
221
220
219
217
216
215
214
213

396
397
398
399
400
401
401
402
403
404
405
371
372
373
374
375
377
378
379
380
381
382
384
393
394
395
396
397
399
400
401
402

792
1,189
1,587
1,986
2,386
2,786
3,188
3,590
3,993
4,397
4,802
5,173
5,544
5,917
6,292
6,667
7,044
7,421
7,800
8,180
8,562
8,944
9,328
9,721
10,115
10,510
10,906
11,304
11,702
12,102
12,503
12,905

Capital
vivo
86,546
86,150
85,754
85,357
84,958
84,560
84,160
83,759
83,358
82,956
82,553
82,149
81,744
81,373
81,001
80,628
80,254
79,879
79,502
79,124
78,745
78,365
77,984
77,602
77,218
76,825
76,431
76,036
75,639
75,242
74,843
74,443
74,042
73,640

34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83

0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%

615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615

212
211
209
208
207
206
205
204
202
201
200
199
198
196
195
194
193
192
190
189
188
187
185
184
183
182
180
179
178
177
175
174
173
172
170
169
168
167
165
164
163
161
160
159
157
156
155
153
152
151

403
404
406
407
408
409
410
411
413
414
415
416
417
419
420
421
422
423
425
426
427
428
430
431
432
433
434
436
437
438
440
441
442
443
445
446
447
448
450
451
452
454
455
456
458
459
460
461
463
464

13,308
13,713
14,118
14,525
14,933
15,342
15,752
16,164
16,576
16,990
17,405
17,821
18,239
18,657
19,077
19,498
19,920
20,344
20,768
21,194
21,621
22,050
22,479
22,910
23,342
23,775
24,210
24,645
25,082
25,521
25,960
26,401
26,843
27,286
27,731
28,177
28,624
29,072
29,522
29,973
30,425
30,879
31,334
31,790
32,248
32,706
33,167
33,628
34,091
34,555

73,237
72,833
72,427
72,020
71,613
71,203
70,793
70,382
69,969
69,555
69,140
68,724
68,307
67,888
67,469
67,048
66,625
66,202
65,777
65,351
64,924
64,496
64,067
63,636
63,204
62,771
62,336
61,900
61,463
61,025
60,586
60,145
59,703
59,259
58,815
58,369
57,922
57,473
57,024
56,573
56,120
55,667
55,212
54,756
54,298
53,839
53,379
52,918
52,455
51,991

84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
101
102
103
104
105
106
107
108
109
110
111
112
113
114
115
116
117
118
119
120
121
122
123
124
125
126
127
128
129
130
131
132
133

0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%

615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615

149
148
147
145
144
143
141
140
139
137
136
135
133
132
130
129
128
126
125
123
122
121
119
118
116
115
113
112
111
109
108
106
105
103
102
100
99
97
96
94
93
91
90
88
87
85
84
82
81
79

465
467
468
470
471
472
474
475
476
478
479
480
482
483
485
486
487
489
490
492
493
494
496
497
499
500
502
503
504
506
507
509
510
512
513
515
516
518
519
521
522
524
525
527
528
530
531
533
534
536

35,020
35,487
35,955
36,425
36,896
37,368
37,842
38,317
38,793
39,271
39,750
40,230
40,712
41,195
41,680
42,166
42,653
43,142
43,632
44,123
44,616
45,111
45,607
46,104
46,603
47,103
47,604
48,107
48,612
49,118
49,625
50,134
50,644
51,156
51,669
52,184
52,700
53,217
53,737
54,257
54,779
55,303
55,828
56,355
56,883
57,413
57,944
58,477
59,011
59,547

51,525
51,058
50,590
50,121
49,650
49,178
48,704
48,229
47,753
47,275
46,796
46,316
45,834
45,351
44,866
44,380
43,893
43,404
42,914
42,422
41,929
41,435
40,939
40,442
39,943
39,443
38,941
38,438
37,934
37,428
36,921
36,412
35,902
35,390
34,877
34,362
33,846
33,328
32,809
32,288
31,766
31,243
30,717
30,191
29,663
29,133
28,602
28,069
27,535
26,999

134
135
136
137
138
139
140
141
142
143
144
145
146
147
148
149
150
151
152
153
154
155
156
157
158
159
160
161
162
163
164
165
166
167
168
169
170
171
172
173
174
175
176
177
178
179
180

0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%

615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615
615

78
76
75
73
71
70
68
67
65
64
62
60
59
57
56
54
52
51
49
47
46
44
43
41
39
38
36
34
33
31
29
28
26
24
23
21
19
17
16
14
12
11
9
7
5
4
2

537
539
540
542
544
545
547
548
550
551
553
555
556
558
559
561
563
564
566
567
569
571
572
574
576
577
579
581
582
584
586
587
589
591
592
594
596
598
599
601
603
604
606
608
610
611
613

60,084
60,623
61,163
61,705
62,249
62,794
63,341
63,889
64,439
64,990
65,543
66,098
66,654
67,211
67,771
68,332
68,894
69,459
70,024
70,592
71,161
71,732
72,304
72,878
73,454
74,031
74,610
75,191
75,773
76,357
76,943
77,530
78,119
78,710
79,302
79,896
80,492
81,090
81,689
82,290
82,893
83,497
84,103
84,711
85,321
85,932
86,546

26,462
25,923
25,382
24,840
24,297
23,752
23,205
22,657
22,107
21,556
21,003
20,448
19,892
19,334
18,775
18,214
17,651
17,087
16,521
15,954
15,385
14,814
14,242
13,668
13,092
12,515
11,936
11,355
10,773
10,189
9,603
9,016
8,427
7,836
7,243
6,649
6,053
5,456
4,857
4,256
3,653
3,048
2,442
1,834
1,225
613
(0)

0.24%

2.865% =coste efectivo

0.32%

3.945% =coste efectivo

ERCER AO

j(12) =

0.30%

3.45%

3.717% =coste efectivo

PRESTAMO INDICIADO
Construir el cuadro de amortizacin de una operacin con las siguientes caractersticas:
Capital prestado = 80.00%
valor tasacin
Inters indiciado
comisin= 1.00%
865.46
Duracin = 15 aos
tasacin= 1.00%
865.46
amortizativos mensuales
Revisin anual
valor de tasacin= 108182

J(12)= 2.54%
m=
n=
n*m=
i=
C0 =
Gastos y comisiones=
Perodo
Origen
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

12
15
180
0.21%
(86,546)
1730.912

a= 579

Rdito
Trmino
Cuota de Cuota de
Capital
perodo amortizativo inters amortizacinamortizado
(84,815)
0.21%
579
183
396
396
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%

579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579

182
182
181
180
179
178
177
176
176
175
174
173
172
171
170
170
169
168
167
166
165
164
163
163
162
161
160
159

396
397
398
399
400
401
401
402
403
404
405
406
407
407
408
409
410
411
412
413
413
414
415
416
417
418
419
420

792
1,189
1,587
1,986
2,386
2,786
3,188
3,590
3,993
4,397
4,802
5,208
5,614
6,022
6,430
6,839
7,249
7,660
8,071
8,484
8,898
9,312
9,727
10,143
10,560
10,978
11,397
11,817

Capital
vivo
86,546
86,150
85,754
85,357
84,958
84,560
84,160
83,759
83,358
82,956
82,553
82,149
81,744
81,338
80,931
80,524
80,116
79,707
79,297
78,886
78,474
78,062
77,648
77,234
76,818
76,402
75,985
75,567
75,149
74,729

30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79

0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%

579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579

158
157
156
156
155
154
153
152
151
150
149
148
147
146
146
145
144
143
142
141
140
139
138
137
136
135
134
133
133
132
131
130
129
128
127
126
125
124
123
122
121
120
119
118
117
116
115
114
113
112

421
421
422
423
424
425
426
427
428
429
430
430
431
432
433
434
435
436
437
438
439
440
441
441
442
443
444
445
446
447
448
449
450
451
452
453
454
455
456
457
458
459
460
461
462
463
463
464
465
466

12,237
12,658
13,081
13,504
13,928
14,353
14,779
15,206
15,634
16,062
16,492
16,922
17,353
17,786
18,219
18,653
19,088
19,524
19,961
20,398
20,837
21,277
21,717
22,159
22,601
23,045
23,489
23,934
24,380
24,827
25,276
25,725
26,174
26,625
27,077
27,530
27,984
28,439
28,894
29,351
29,809
30,267
30,727
31,187
31,649
32,112
32,575
33,039
33,505
33,971

74,309
73,887
73,465
73,042
72,617
72,192
71,767
71,340
70,912
70,483
70,054
69,624
69,192
68,760
68,327
67,893
67,458
67,022
66,585
66,147
65,708
65,269
64,828
64,387
63,944
63,501
63,057
62,611
62,165
61,718
61,270
60,821
60,371
59,920
59,468
59,015
58,562
58,107
57,651
57,195
56,737
56,278
55,819
55,358
54,897
54,434
53,971
53,506
53,041
52,574

80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
101
102
103
104
105
106
107
108
109
110
111
112
113
114
115
116
117
118
119
120
121
122
123
124
125
126
127
128
129

0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%

579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579

111
110
109
108
107
106
105
104
103
102
101
100
99
98
97
96
95
94
93
92
91
90
89
88
87
86
85
84
83
82
81
80
79
78
76
75
74
73
72
71
70
69
68
67
66
65
64
62
61
60

467
468
469
470
471
472
473
474
475
476
477
478
479
480
481
482
484
485
486
487
488
489
490
491
492
493
494
495
496
497
498
499
500
501
502
503
504
505
507
508
509
510
511
512
513
514
515
516
517
518

34,439
34,907
35,377
35,847
36,318
36,791
37,264
37,739
38,214
38,690
39,168
39,646
40,126
40,606
41,088
41,570
42,054
42,538
43,024
43,510
43,998
44,487
44,976
45,467
45,959
46,451
46,945
47,440
47,936
48,433
48,931
49,430
49,930
50,432
50,934
51,437
51,942
52,447
52,954
53,461
53,970
54,480
54,990
55,502
56,015
56,529
57,045
57,561
58,078
58,597

52,107
51,638
51,169
50,699
50,227
49,755
49,281
48,807
48,332
47,855
47,378
46,899
46,420
45,939
45,458
44,976
44,492
44,007
43,522
43,035
42,548
42,059
41,569
41,079
40,587
40,094
39,600
39,105
38,609
38,112
37,614
37,115
36,615
36,114
35,612
35,108
34,604
34,099
33,592
33,084
32,576
32,066
31,555
31,043
30,530
30,016
29,501
28,985
28,467
27,949

130
131
132
133
134
135
136
137
138
139
140
141
142
143
144
145
146
147
148
149
150
151
152
153
154
155
156
157
158
159
160
161
162
163
164
165
166
167
168
169
170
171
172
173
174
175
176
177
178
179

0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%

579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579
579

59
58
57
56
55
54
53
51
50
49
48
47
46
45
44
42
41
40
39
38
37
36
34
33
32
31
30
29
27
26
25
24
23
22
20
19
18
17
16
14
13
12
11
10
9
7
6
5
4
2

520
521
522
523
524
525
526
527
528
530
531
532
533
534
535
536
537
539
540
541
542
543
544
545
547
548
549
550
551
552
554
555
556
557
558
559
561
562
563
564
565
567
568
569
570
571
573
574
575
576

59,116
59,637
60,159
60,682
61,205
61,731
62,257
62,784
63,312
63,842
64,373
64,904
65,437
65,971
66,506
67,043
67,580
68,119
68,658
69,199
69,741
70,284
70,829
71,374
71,921
72,469
73,017
73,568
74,119
74,671
75,225
75,779
76,335
76,892
77,451
78,010
78,571
79,133
79,696
80,260
80,825
81,392
81,960
82,529
83,099
83,670
84,243
84,817
85,392
85,968

27,429
26,909
26,387
25,864
25,340
24,815
24,289
23,762
23,233
22,704
22,173
21,641
21,108
20,574
20,039
19,503
18,965
18,427
17,887
17,346
16,804
16,261
15,717
15,171
14,625
14,077
13,528
12,978
12,427
11,874
11,321
10,766
10,210
9,653
9,095
8,535
7,975
7,413
6,850
6,286
5,720
5,154
4,586
4,017
3,447
2,875
2,303
1,729
1,154
577

180

0.21%

579

PRIMER AO
n = 180
i= 0.21%
C0 = (86,546)

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

j(12) =

2.54%

j(12) =

n = 168
i= 0.31%
C0 = (81,744)

Origen
1

577

86,546

3.75%

a= 626

Rdito
Trmino
Cuota de Cuota de
Capital
perodo amortizativo inters amortizacinamortizado
(84,815)
0.21%
579
183
396
396
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%

a= 579

SEGUNDO AO

Perodo

579
579
579
579
579
579
579
579
579
579
579
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626

182
182
181
180
179
178
177
176
176
175
174
255
254
253
252
251
250
248
247
246
245
244
243
241
240
239
238

396
397
398
399
400
401
401
402
403
404
405
371
372
373
374
375
377
378
379
380
381
382
384
385
386
387
388

792
1,189
1,587
1,986
2,386
2,786
3,188
3,590
3,993
4,397
4,802
5,173
5,544
5,917
6,292
6,667
7,044
7,421
7,800
8,180
8,562
8,944
9,328
9,713
10,099
10,486
10,874

Capital
vivo
86,546
86,150
85,754
85,357
84,958
84,560
84,160
83,759
83,358
82,956
82,553
82,149
81,744
81,373
81,001
80,628
80,254
79,879
79,502
79,124
78,745
78,365
77,984
77,602
77,218
76,833
76,447
76,060
75,671

29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78

0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%

626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626

236
235
234
233
232
230
229
228
227
225
224
223
222
220
219
218
217
215
214
213
211
210
209
207
206
205
204
202
201
200
198
197
196
194
193
192
190
189
187
186
185
183
182
181
179
178
176
175
174
172

390
391
392
393
395
396
397
398
400
401
402
403
405
406
407
408
410
411
412
413
415
416
417
419
420
421
423
424
425
427
428
429
431
432
433
435
436
437
439
440
441
443
444
446
447
448
450
451
453
454

11,264
11,655
12,047
12,440
12,835
13,231
13,628
14,026
14,426
14,827
15,229
15,632
16,036
16,442
16,849
17,258
17,667
18,078
18,490
18,904
19,319
19,735
20,152
20,571
20,991
21,412
21,835
22,259
22,684
23,111
23,538
23,968
24,398
24,830
25,264
25,698
26,134
26,572
27,010
27,450
27,892
28,335
28,779
29,225
29,672
30,120
30,570
31,021
31,474
31,928

75,282
74,891
74,499
74,105
73,711
73,315
72,918
72,519
72,120
71,719
71,317
70,914
70,509
70,103
69,696
69,288
68,878
68,467
68,055
67,642
67,227
66,811
66,393
65,975
65,555
65,133
64,711
64,287
63,862
63,435
63,007
62,578
62,147
61,715
61,282
60,847
60,411
59,974
59,535
59,095
58,654
58,211
57,766
57,321
56,874
56,425
55,976
55,524
55,072
54,618

79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
101
102
103
104
105
106
107
108
109
110
111
112
113
114
115
116
117
118
119
120
121
122
123
124
125
126
127
128

0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%

626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626

171
169
168
166
165
164
162
161
159
158
156
155
153
152
150
149
147
146
144
143
141
140
138
137
135
134
132
131
129
128
126
124
123
121
120
118
117
115
113
112
110
109
107
105
104
102
100
99
97
95

455
457
458
460
461
463
464
466
467
468
470
471
473
474
476
477
479
480
482
483
485
486
488
489
491
492
494
496
497
499
500
502
503
505
506
508
510
511
513
514
516
518
519
521
523
524
526
527
529
531

32,383
32,840
33,299
33,758
34,220
34,682
35,146
35,612
36,079
36,547
37,017
37,489
37,962
38,436
38,912
39,389
39,868
40,348
40,830
41,313
41,798
42,284
42,772
43,262
43,752
44,245
44,739
45,234
45,731
46,230
46,730
47,232
47,735
48,240
48,747
49,255
49,764
50,276
50,788
51,303
51,819
52,336
52,856
53,377
53,899
54,423
54,949
55,476
56,005
56,536

54,162
53,705
53,247
52,787
52,326
51,863
51,399
50,934
50,467
49,998
49,528
49,057
48,584
48,110
47,634
47,157
46,678
46,197
45,716
45,232
44,748
44,261
43,773
43,284
42,793
42,301
41,807
41,311
40,814
40,316
39,815
39,314
38,810
38,305
37,799
37,291
36,781
36,270
35,757
35,243
34,727
34,209
33,690
33,169
32,647
32,122
31,597
31,069
30,540
30,009

129
130
131
132
133
134
135
136
137
138
139
140
141
142
143
144
145
146
147
148
149
150
151
152
153
154
155
156
157
158
159
160
161
162
163
164
165
166
167
168
169
170
171
172
173
174
175
176
177
178

0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%

626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626
626

94
92
90
89
87
85
84
82
80
79
77
75
73
72
70
68
67
65
63
61
59
58
56
54
52
51
49
47
45
43
42
40
38
36
34
32
30
29
27
25
23
21
19
17
15
14
12
10
8
6

532
534
536
537
539
541
542
544
546
548
549
551
553
554
556
558
560
561
563
565
567
568
570
572
574
576
577
579
581
583
585
586
588
590
592
594
596
598
599
601
603
605
607
609
611
613
615
616
618
620

57,069
57,603
58,138
58,676
59,215
59,756
60,298
60,842
61,388
61,936
62,485
63,036
63,588
64,143
64,699
65,257
65,817
66,378
66,941
67,506
68,073
68,641
69,211
69,783
70,357
70,933
71,510
72,089
72,670
73,253
73,838
74,424
75,012
75,602
76,194
76,788
77,384
77,981
78,581
79,182
79,785
80,390
80,997
81,606
82,217
82,829
83,444
84,060
84,679
85,299

29,477
28,943
28,407
27,870
27,331
26,790
26,248
25,703
25,158
24,610
24,061
23,510
22,957
22,403
21,847
21,289
20,729
20,168
19,605
19,040
18,473
17,905
17,334
16,762
16,189
15,613
15,036
14,456
13,875
13,293
12,708
12,122
11,533
10,943
10,351
9,757
9,162
8,564
7,965
7,364
6,760
6,155
5,548
4,940
4,329
3,716
3,102
2,485
1,867
1,246

179
180

0.31%
0.31%
PRIMER AO

626
626

n = 180
i= 0.21%
C0 = 0

4
2
j(12) =

622
624
2.54%

a= 579

SEGUNDO AO

85,921
86,546

n=

j(12) =

624
0
TERCER AO

156
i= 0.29%
C0 = (77,218)

3.75%

a= 615
a= 564

n = 168
i= 0.31%
C0 = (81,744)
Perodo
Origen
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

a= 626

en periodo 36 aporta = 6000


comisin= 0.01
n=
144
Rdito
Trmino
Cuota de Cuota de
Capital
Capital
perodo amortizativo inters amortizacinamortizado
vivo
(84,815)
86,546
0.21%
579
183
396
396
86,150
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.21%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.31%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%

579
579
579
579
579
579
579
579
579
579
579
626
626
626
626
626
626
626
626
626
626
626
626
615
615
615
615
615
615
615
615
615

182
182
181
180
179
178
177
176
176
175
174
255
254
253
252
251
250
248
247
246
245
244
243
222
221
220
219
217
216
215
214
213

396
397
398
399
400
401
401
402
403
404
405
371
372
373
374
375
377
378
379
380
381
382
384
393
394
395
396
397
399
400
401
402

792
1,189
1,587
1,986
2,386
2,786
3,188
3,590
3,993
4,397
4,802
5,173
5,544
5,917
6,292
6,667
7,044
7,421
7,800
8,180
8,562
8,944
9,328
9,721
10,115
10,510
10,906
11,304
11,702
12,102
12,503
12,905

85,754
85,357
84,958
84,560
84,160
83,759
83,358
82,956
82,553
82,149
81,744
81,373
81,001
80,628
80,254
79,879
79,502
79,124
78,745
78,365
77,984
77,602
77,218
76,825
76,431
76,036
75,639
75,242
74,843
74,443
74,042
73,640

34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83

0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%

615
615
615
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564

212
211
209
191
190
189
188
187
185
184
183
182
181
180
179
178
177
176
174
173
172
171
170
169
168
167
165
164
163
162
161
160
158
157
156
155
154
153
151
150
149
148
147
145
144
143
142
141
139
138

403
404
406
373
374
375
376
377
378
379
380
381
382
384
385
386
387
388
389
390
391
392
394
395
396
397
398
399
400
402
403
404
405
406
407
409
410
411
412
413
414
416
417
418
419
420
422
423
424
425

13,308
13,713
14,118
14,491
14,865
15,240
15,616
15,993
16,371
16,750
17,130
17,512
17,894
18,278
18,662
19,048
19,435
19,823
20,212
20,602
20,993
21,386
21,780
22,174
22,570
22,967
23,365
23,765
24,165
24,567
24,969
25,373
25,778
26,184
26,592
27,000
27,410
27,821
28,233
28,646
29,061
29,477
29,893
30,311
30,731
31,151
31,573
31,996
32,420
32,845

73,237
72,833
66,367
65,994
65,621
65,246
64,870
64,493
64,115
63,736
63,355
62,974
62,592
62,208
61,823
61,438
61,051
60,663
60,274
59,883
59,492
59,100
58,706
58,311
57,915
57,519
57,120
56,721
56,321
55,919
55,516
55,112
54,707
54,301
53,894
53,485
53,075
52,665
52,252
51,839
51,425
51,009
50,592
50,174
49,755
49,334
48,913
48,490
48,066
47,641

84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
101
102
103
104
105
106
107
108
109
110
111
112
113
114
115
116
117
118
119
120
121
122
123
124
125
126
127
128
129
130
131
132
133

0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%

564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564

137
136
135
133
132
131
130
128
127
126
125
123
122
121
119
118
117
116
114
113
112
110
109
108
107
105
104
103
101
100
99
97
96
95
93
92
91
89
88
86
85
84
82
81
80
78
77
75
74
73

427
428
429
430
431
433
434
435
436
438
439
440
441
443
444
445
447
448
449
450
452
453
454
456
457
458
460
461
462
464
465
466
468
469
470
472
473
474
476
477
478
480
481
483
484
485
487
488
490
491

33,272
33,699
34,128
34,559
34,990
35,423
35,857
36,292
36,728
37,166
37,605
38,045
38,487
38,929
39,373
39,819
40,265
40,713
41,162
41,613
42,065
42,518
42,972
43,428
43,885
44,343
44,802
45,263
45,726
46,189
46,654
47,120
47,588
48,057
48,527
48,999
49,472
49,946
50,422
50,899
51,377
51,857
52,338
52,821
53,305
53,790
54,277
54,765
55,255
55,746

47,214
46,786
46,357
45,927
45,496
45,063
44,629
44,194
43,757
43,320
42,881
42,440
41,999
41,556
41,112
40,667
40,220
39,772
39,323
38,873
38,421
37,968
37,514
37,058
36,601
36,143
35,683
35,222
34,760
34,296
33,832
33,365
32,898
32,429
31,959
31,487
31,014
30,540
30,064
29,587
29,108
28,629
28,147
27,665
27,181
26,695
26,209
25,721
25,231
24,740

134
135
136
137
138
139
140
141
142
143
144
145
146
147
148
149
150
151
152
153
154
155
156
157
158
159
160
161
162
163
164
165
166
167
168
169
170
171
172
173
174
175
176
177
178
179
180

0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%
0.29%

564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564
564

71
70
68
67
65
64
63
61
60
58
57
55
54
52
51
49
48
47
45
44
42
41
39
38
36
34
33
31
30
28
27
25
24
22
21
19
18
16
14
13
11
10
8
6
5
3
2

492
494
495
497
498
499
501
502
504
505
507
508
510
511
513
514
516
517
518
520
521
523
524
526
527
529
531
532
534
535
537
538
540
541
543
544
546
548
549
551
552
554
555
557
559
560
562

56,238
56,732
57,227
57,724
58,222
58,721
59,222
59,724
60,228
60,734
61,240
61,748
62,258
62,769
63,282
63,796
64,311
64,828
65,347
65,867
66,388
66,911
67,436
67,962
68,489
69,018
69,549
70,081
70,614
71,149
71,686
72,224
72,764
73,305
73,848
74,393
74,939
75,486
76,035
76,586
77,138
77,692
78,248
78,805
79,363
79,924
80,486

24,248
23,754
23,259
22,762
22,264
21,764
21,264
20,761
20,257
19,752
19,245
18,737
18,228
17,716
17,204
16,690
16,174
15,657
15,139
14,619
14,097
13,574
13,050
12,524
11,996
11,467
10,937
10,405
9,871
9,336
8,799
8,261
7,722
7,180
6,637
6,093
5,547
4,999
4,450
3,900
3,347
2,793
2,238
1,681
1,122
562
(0)

0.24%

2.865% =coste efectivo

0.32%

3.945% =coste efectivo

ERCER AO

j(12) =

3.45%

60.00

0.22%

2.732% =coste efectivo

6060

la empresa Azulejos S.A. quiere financiar


la compra de camiones cuyo precio de
adquisicin es de 4.800.000 .
Una entidad financiera le ofrece una
operacin de Leasing, de duracin 7 aos,
a un tipo de inters nominal 6% con pago
mensual de cuota de leasing.
Comisin de apertura y estudio del 0,1%
La empresa estudia la realizacin de esta
operacin, suponiendo un valor residual de
los vehculos de 800.000 .
Calcular el cuadro del leasing.

nominal=
duracin=
J(12)=
comisin=
Valor residual=
Valor actual del valor residual
Nominal-c4
Nominal-c4-comis

4,800,000.00
84
6.00%
0.10%
800,000.00

OPERACIN DE LEASING
4,800.00
1216295.7089
3583704.2911
3,578,904.29

L
-3578904.29

0.3422652122

52,092

52092.28

68.4530424355

34,434

52092.28

68.7953076477

34,606

52092.28

34,779

52092.28

34,953

52092.28

35,128

52092.28

35,304

52092.28

35,480

52092.28

35,658

52092.28

35,836

52092.28

10

36,015

52092.28

11

36,195

52092.28

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

36,376
36,558
36,741
36,925
37,109
37,295
37,481
37,669
37,857
38,046
38,236
38,428
38,620
38,813
39,007
39,202
39,398
39,595
39,793
39,992
40,192
40,393
40,595
40,798
41,002

52092.28
52092.28
52092.28
52092.28
52092.28
52092.28
52092.28
52092.28
52092.28
52092.28
52092.28
52092.28
52092.28
52092.28
52092.28
52092.28
52092.28
52092.28
52092.28
52092.28
52092.28
52092.28
52092.28
52092.28
52092.28

L= 52,092.28

37
38
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
73
74
75
76
77
78
79
80
81
82
83

41,207
41,413
41,620
41,828
42,037
42,247
42,459
42,671
42,884
43,099
43,314
43,531
43,748
43,967
44,187
44,408
44,630
44,853
45,077
45,303
45,529
45,757
45,986
46,216
46,447
46,679
46,912
47,147
47,383
47,619
47,858
48,097
48,337
48,579
48,822
49,066
49,311
49,558
49,806
50,055
50,305
50,556
50,809
51,063
51,319
51,575
51,833

52092.28
52092.28
52092.28
52092.28
52092.28
52092.28
52092.28
52092.28
52092.28
52092.28
52092.28
52092.28
52092.28
52092.28
52092.28
52092.28
52092.28
52092.28
52092.28
52092.28
52092.28
52092.28
52092.28
52092.28
52092.28
52092.28
52092.28
52092.28
52092.28
52092.28
52092.28
52092.28
52092.28
52092.28
52092.28
52092.28
52092.28
52092.28
52092.28
52092.28
52092.28
52092.28
52092.28
52092.28
52092.28
52092.28
52092.28

N DE LEASING

L+IVA
-3578904.29
3,531,612

60427.04

17,658

3,497,178

60427.04

17,486

3,462,571

60427.04

17,313

3,427,792

60427.04

17,139

3,392,839

60427.04

16,964

3,357,711

60427.04

16,789

3,322,407

60427.04

16,612

3,286,927

60427.04

16,435

3,251,269

60427.04

16,256

3,215,433

60427.04

16,077

3,179,418

60427.04

15,897

3,143,223

60427.04

15,716
15,534
15,351
15,168
14,983
14,798
14,611
14,424
14,235
14,046
13,856
13,665
13,473
13,279
13,085
12,890
12,694
12,497
12,299
12,100
11,900
11,699
11,497
11,295
11,091

3,106,847
3,070,289
3,033,548
2,996,623
2,959,514
2,922,219
2,884,738
2,847,070
2,809,213
2,771,166
2,732,930
2,694,502
2,655,883
2,617,070
2,578,063
2,538,861
2,499,463
2,459,868
2,420,075
2,380,083
2,339,891
2,299,498
2,258,904
2,218,106
2,177,104

60427.04
60427.04
60427.04
60427.04
60427.04
60427.04
60427.04
60427.04
60427.04
60427.04
60427.04
60427.04
60427.04
60427.04
60427.04
60427.04
60427.04
60427.04
60427.04
60427.04
60427.04
60427.04
60427.04
60427.04
60427.04

Sin IVA

Coste

0.491%

6.051%

10,886
10,679
10,472
10,264
10,055
9,845
9,634
9,421
9,208
8,994
8,778
8,562
8,344
8,125
7,905
7,684
7,462
7,239
7,015
6,790
6,563
6,335
6,107
5,877
5,646
5,413
5,180
4,945
4,710
4,473
4,235
3,995
3,755
3,513
3,270
3,026
2,781
2,534
2,287
2,038
1,787
1,536
1,283
1,029
774
517
259

2,135,897
2,094,484
2,052,865
2,011,037
1,969,000
1,926,752
1,884,294
1,841,623
1,798,739
1,755,640
1,712,326
1,668,795
1,625,047
1,581,080
1,536,893
1,492,485
1,447,856
1,403,003
1,357,925
1,312,623
1,267,094
1,221,337
1,175,351
1,129,136
1,082,689
1,036,010
989,098
941,951
894,569
846,949
799,092
750,995
702,658
654,079
605,257
556,191
506,879
457,321
407,516
357,461
307,156
256,600
205,790
154,727
103,408
51,833
0

60427.04
60427.04
60427.04
60427.04
60427.04
60427.04
60427.04
60427.04
60427.04
60427.04
60427.04
60427.04
60427.04
60427.04
60427.04
60427.04
60427.04
60427.04
60427.04
60427.04
60427.04
60427.04
60427.04
60427.04
60427.04
60427.04
60427.04
60427.04
60427.04
60427.04
60427.04
60427.04
60427.04
60427.04
60427.04
60427.04
60427.04
60427.04
60427.04
60427.04
60427.04
60427.04
60427.04
60427.04
60427.04
60427.04
60427.04

Amueble su oficina por Renting


24 meses de alquiler
en operaciones a partir de 1500 + IVA hasta 6000 + IVA
36 meses de alquiler
en operaciones a partir de 6000 + IVA

Quiero comprar muebles por valor de 5000 y por valor de 6500 .


Cual es el coste efectivo de esta opccin de adquisicin de mobiliario?

sta 6000 + IVA

or de 6500 .

in de mobiliario?

TIPO A
TIPO B
compra por valor de= 5,000
6,500.00
n= 24
0.045841
n= 36
0.031606
Cuota mensual Cuota mensual
n=
24
36
0
-4,771
-6,294.56
1
229
205.44
2
229
205.44
3
229
205.44
4
229
205.44
5
229
205.44
6
229
205.44
7
229
205.44
8
229
205.44
9
229
205.44
10
229
205.44
11
229
205.44
12
229
205.44
13
229
205.44
14
229
205.44
15
229
205.44
16
229
205.44
17
229
205.44
18
229
205.44
19
229
205.44
20
229
205.44
21
229
205.44
22
229
205.44
23
229
205.44
24
229
205.44
25
205.44
26
205.44
27
205.44
28
205.44
29
205.44
30
205.44
31
205.44
32
205.44
33
205.44
34
205.44
35
205.44
36
205.44

229.21
205.44

TIR n=24
TIR n=36

1.17%
0.90%

15.01%
11.34%