PRESENTE VA

FUTURO VF
n N periodo
INTERESES EFECTIVO ANUAL Int. Efectivo
TASA NOMINAL ANUAL Tasa. nominal
ANUALIDAD O CUOTAS Pago
VALOR PRESENTE NETO VPN VNA
TASA DE INTERNA DE RETORNO TIR

INTERES COMPUESTO

VAMOS A CALCULAR EL VALOR FUTURO TENIENDO PRESENTE, TASA Y TIEMPO

PRESENTE 5,000,000 5,000,000

n 36 MESES 12
I 4% 12%
FUTURO -$ 20,519,662.77 -$ 20,519,969.24

VAMOS A CALCULAR EL VALOR PRESENTE TENIENDO, FUTURO LA TASA Y EL TIEMPO

FUTURO 1,268,241.79
n 12
i 2%
PRESENTE -$ 1,000,000.00

VAMOS A CALCULAR EL TIEMPO TENIENDO, PRESENTE FUTURO Y TASA

PRESENTE 1,000,000.00
FUTURO - 1,268,241.79
TASA DE INTERES 2%
n 12

VAMOS A CALCULAR LA TASA DE INTERES TENIENDO PRESENTE, FUTURO Y TIEMPO

PRESENTE 1000000
FUTURO -1268241.79
n 12
i 2%

QUE TASA DE INTERES DUPLICA MI CAPITAL EN 24 MESES

PRESENTE 500000
FUTURO -1000000
n 24
i 3%
TASA EFECTIVO ANUAL ES LA VERDADERA TASA QUE ME COBRAN
TASA NOMINAL ES MENOR QUE LA TASA EFECTIVO

TASAS NOMINALES EFECTIVAS Y EQUIVALENTES

VAMOS A CALCULAR UNA TASA EFECTIVA ANUAL TENIENDO UNA TASA NOMINAL ANUAL Y EL NUMERO DE PERIODOS

TASA NOMINAL ANUAL 24% 24%

n 12 6
TASA EFECTIVA ANUAL 26.824179% 26.531902%

CONVERTIR UNA TASA PERIODICA EN OTRA TASA PERIODICA

IEP 0.04
1+IEP 1.04
m 4 busca
n 12 conoce
iepo 12.48640%

IEP 0.15
1+IEP 1.15
m 6 busca
n 2 conoce
iepo 4.76896%

ANUALIDADES ----------- CUOTAS

SON PAGPOS O INGRESOS PERIODOS IGUALES

ANUALIDADES PAGO
VAMOSA CALCULAR UNA ANUALIDAD TENIENDO PRESENTE TASA Y TIEMPO

PRESENTE 10,000,000
n 36
i 1.5%
ANUALIDAD / CUOTA -$ 361,523.96 -$ 13,014,862.39

VAMOS A CALCULAR EL VALOR PRESENTE TENIENDO ANUALIDAD, TASA Y TIEMPO

ANUALIDA 361,523.960
n 36
i 1.5%
PRESENTE -$ 10,000,000.13

VAMOS A CALCULAR EL TIEMPO TENIENDO PRESENTE, ANUALIDAD Y TASA

PRESENTE 10,000,000
ANUALIDAD - 361,523.96
i 1.50%
n 36.00

OJO LO MAS IMPOETANTE VAMOS A CALCULAR LA TASA DE INTERES TENIENDO PRESENTE, ANUALIDAD Y TIEMPO

PRESENTE 10,000,000 53,000,000 1,800,000

n 36 240 24
ANUALIDAD -361523.96 - 495,000 -185000
i 1.50% 0.79% 8.97%

VAMOS A ELABORAR LAS TABLAS DE AMORTIZACION

PRESENTE 10000000
n 36
I 1.50%
ANUALIDAD U CUOTA -$ 361,523.96
$ 361,523.96

PERIODOS CAPITAL CUOTAS

1 10,000,000.00 $ 361,523.96
2 9,788,476.04 $ 361,523.96
3 9,573,779.23 $ 361,523.96
4 9,355,861.96 $ 361,523.96
5 9,134,675.94 $ 361,523.96
6 8,910,172.12 $ 361,523.96
7 8,682,300.75 $ 361,523.96
8 8,451,011.30 $ 361,523.96
9 8,216,252.52 $ 361,523.96
10 7,977,972.35 $ 361,523.96
11 7,736,117.98 $ 361,523.96
12 7,490,635.79 $ 361,523.96
13 7,241,471.38 $ 361,523.96
14 6,988,569.49 $ 361,523.96
15 6,731,874.08 $ 361,523.96
16 6,471,328.23 $ 361,523.96
17 6,206,874.20 $ 361,523.96
18 5,938,453.36 $ 361,523.96
 19 5,666,006.20 $ 361,523.96
20 5,389,472.34 $ 361,523.96
21 5,108,790.47 $ 361,523.96
22 4,823,898.37 $ 361,523.96
23 4,534,732.89 $ 361,523.96
24 4,241,229.93 $ 361,523.96
25 3,943,324.43 $ 361,523.96
26 3,640,950.34 $ 361,523.96
27 3,334,040.64 $ 361,523.96
28 3,022,527.29 $ 361,523.96
29 2,706,341.24 $ 361,523.96
30 2,385,412.41 $ 361,523.96
31 2,059,669.64 $ 361,523.96
32 1,729,040.73 $ 361,523.96
33 1,393,452.38 $ 361,523.96
34 1,052,830.21 $ 361,523.96
35 707,098.71 $ 361,523.96
36 356,181.24 $ 361,523.96

VAMOS A ELABORAR LA TABLA DE FACTORES OTRA FORMA DE CALCULAR LA ANUALIDAD

i 0.04
1+i 1.04
CUOTA A B
1 0.0416 0.04
2 0.043264 0.0816
3 0.04499456 0.124864
4 0.0467943424 0.16985856
5 0.0486661161 0.2166529024
6 0.0506127607 0.2653190185
7 0.0526372712 0.3159317792
8 0.054742762 0.3685690504
9 0.0569324725 0.4233118124
10 0.0592097714 0.4802442849
11 0.0615781623 0.5394540563
12 0.0640412887 0.6010322186
13 0.0666029403 0.6650735073
14 0.0692670579 0.7316764476
15 0.0720377402 0.8009435055
16 0.0749192498 0.8729812457
17 0.0779160198 0.9479004956
18 0.0810326606 1.0258165154
19 0.084273967 1.106849176
20 0.0876449257 1.191123143
21 0.0911507228 1.2787680688
 22 0.0947967517 1.3699187915
23 0.0985886217 1.4647155432
24 0.1025321666 1.5633041649
25 0.1066334533 1.6658363315
26 0.1108987914 1.7724697847
27 0.115334743 1.8833685761
28 0.1199481328 1.9987033192
29 0.1247460581 2.1186514519
30 0.1297359004 2.24339751
31 0.1349253364 2.3731334104
32 0.1403223499 2.5080587468
33 0.1459352439 2.6483810967
34 0.1517726536 2.7943163406
35 0.1578435598 2.9460889942
36 0.1641573022 3.103932554
37 0.1707235942 3.2680898561
38 0.177552538 3.4388134504
39 0.1846546395 3.6163659884
40 0.1920408251 3.8010206279
41 0.1997224581 3.9930614531
42 0.2077113564 4.1927839112
43 0.2160198107 4.4004952676
44 0.2246606031 4.6165150783
45 0.2336470273 4.8411756815
46 0.2429929083 5.0748227087
47 0.2527126247 5.3178156171
48 0.2628211297 5.5705282418
49 0.2733339749 5.8333493714
50 0.2842673339 6.1066833463
51 0.2956380272 6.3909506801
52 0.3074635483 6.6865887073
53 0.3197620902 6.9940522556
54 0.3325525738 7.3138143459
55 0.3458546768 7.6463669197
56 0.3596888639 7.9922215965
1 57 0.3740764184 8.3519104603
58 0.3890394751 8.7259868787
59 0.4046010542 9.1150263539
60 0.4207850963 9.5196274081
 1,000,000 1,000,000 1,000,000
4 2 1
6% 12% 24%
-$ 1,262,476.96 -$ 1,254,400.00 -$ 1,240,000.00
O DE PERIODOS

24% 24% 24%

4 3 2
26.247696% 25.971200% 25.440000%

PRESENTE VA
FUTURO VF
n n/PER
i TASA
ANUALIDAD PAGO
V PER
TIR TIR
DAD Y TIEMPO

35,000,000 2.4166666667
60
- 750,000
0.86%

INTERESES ABONO A CAPITAL NUEVO SALDO

150,000.00 $ 211,523.96 9,788,476.04
146,827.14 $ 214,696.81 9,573,779.23
143,606.69 $ 217,917.27 9,355,861.96
140,337.93 $ 221,186.03 9,134,675.94
137,020.14 $ 224,503.82 8,910,172.12
133,652.58 $ 227,871.37 8,682,300.75
130,234.51 $ 231,289.44 8,451,011.30
126,765.17 $ 234,758.79 8,216,252.52
123,243.79 $ 238,280.17 7,977,972.35
119,669.59 $ 241,854.37 7,736,117.98
116,041.77 $ 245,482.19 7,490,635.79
112,359.54 $ 249,164.42 7,241,471.38
108,622.07 $ 252,901.88 6,988,569.49
104,828.54 $ 256,695.41 6,731,874.08
100,978.11 $ 260,545.84 6,471,328.23
97,069.92 $ 264,454.03 6,206,874.20
93,103.11 $ 268,420.84 5,938,453.36
89,076.80 $ 272,447.15 5,666,006.20
 84,990.09 $ 276,533.86 5,389,472.34
80,842.09 $ 280,681.87 5,108,790.47
76,631.86 $ 284,892.10 4,823,898.37
72,358.48 $ 289,165.48 4,534,732.89
68,020.99 $ 293,502.96 4,241,229.93
63,618.45 $ 297,905.51 3,943,324.43
59,149.87 $ 302,374.09 3,640,950.34
54,614.26 $ 306,909.70 3,334,040.64
50,010.61 $ 311,513.35 3,022,527.29
45,337.91 $ 316,186.05 2,706,341.24
40,595.12 $ 320,928.84 2,385,412.41
35,781.19 $ 325,742.77 2,059,669.64
30,895.04 $ 330,628.91 1,729,040.73
25,935.61 $ 335,588.34 1,393,452.38
20,901.79 $ 340,622.17 1,052,830.21
15,792.45 $ 345,731.50 707,098.71
10,606.48 $ 350,917.47 356,181.24
5,342.72 $ 356,181.24 -

A/B
1.04
0.53019608
0.36034854
0.27549005
0.22462711
0.1907619
0.16660961
0.14852783
0.13449299
0.12329094
0.11414904
0.10655217
0.10014373
0.09466897
0.0899411
0.08582
0.08219852
0.07899333 1,700,000 134288.657845314
0.07613862
0.07358175
0.07128011
0.06919881
0.06730906
0.06558683
0.06401196
0.06256738
0.06123854
0.06001298
0.05887993
0.0578301
0.05685535
0.05594859
0.05510357
0.05431477
0.05357732
0.05288688 10,000,000.00 528,868.78
0.05223957
0.05163192
0.05106083
0.05052349
0.05001738
0.0495402
0.04908989
0.04866454
0.04826246
0.04788205
0.04752189
0.04718065
0.04685712
0.0465502
0.04625885
0.04598212
0.04571915
0.0454691
0.04523124
0.04500487
0.04478932
0.04458401
0.04438836
0.04420185
 24%
1
24.000000%
EVALUACION FINANCIERA DE PROYECTOS DE INVERSION (VON Y TIR)

PERIODOS INGRESOS EGRESOS FLUJO(ING-EGRE)

0 0 200,000,000 - 200,000,000
1 50,000,000 30,000,000 20,000,000
2 70,000,000 30,000,000 40,000,000
3 90,000,000 30,000,000 60,000,000
4 110,000,000 30,000,000 80,000,000
5 210,000,000 30,000,000 180,000,000
TASA 30%
VPN - 57,147,320
TIR 18.342228%

PERIODOS INGRESOS EGRESOS FLUJO ( ING- EGRE)

0 100,000,000 -
1 2,000,000
2 2,000,000
3 2,000,000
4 2,000,000
5 2,000,000
6 2,000,000
7 2,000,000
8 2,000,000
9 2,000,000
10 2,000,000
11 2,000,000
12 102,000,000
100,000,000
- 2,000,000
- 2,000,000
- 2,000,000
- 2,000,000
- 2,000,000
- 2,000,000
- 2,000,000
- 2,000,000
- 2,000,000
- 2,000,000
- 2,000,000
- 102,000,000

TASA 2%
VPN $ 0.00
TIR 2%

MI PADRE COMO FUTURO CONTADOR ME PIDIO LA SIGUIENTE ASESORIA: QUIERO COMPRAR UN APTO QUE VAE $ 500,000,00
DURANTE UNA AÑO EL VALOR RESIDUAL DEL APTO A FINAL DEL AÑO ES DE 530,000,000 EN EL MES 3 PAGUE UN IMPUESTO PR
MI PAPA ME DICE QUE SI SERA MEJOR PRESTARLE LA PLATA A UN COMPRADE QUE ME RECONOCE EL 1,5% DE INTERES MENSU

PERIODOS INGRESOS EGRESOS FLUJO ( ING- EGRE) PERIODOS

0 500,000,000 - 500,000,000 0
1 2,000,000 - 2,000,000 1
2 2,000,000 - 2,000,000 2
3 2,000,000 3,000,000 - 1,000,000 3
4 2,000,000 - 2,000,000 4
5 2,000,000 - 2,000,000 5
6 2,000,000 - 2,000,000 6
 7 2,000,000 - 2,000,000 7
8 2,000,000 - 2,000,000 8
9 2,000,000 - 2,000,000 9
10 2,000,000 - 2,000,000 10
11 2,000,000 - 2,000,000 11
12 532,000,000 - 532,000,000 12

TASA 1.5%
VPN -$ 37,768,606.96
TIR 0.8262%
RAR UN APTO QUE VAE $ 500,000,000 Y LO ARRENDARE EN $ 2,000,000 MENSUALES
EN EL MES 3 PAGUE UN IMPUESTO PREDIAL DE $ 3,000,000
CONOCE EL 1,5% DE INTERES MENSUAL. QUE LE ACONSEJO A MI PADRE?

INGRESOS EGRESOS FLUJO ( ING- EGRE)

500,000,000 - 500,000,000
7,500,000 - 7,500,000
7,500,000 - 7,500,000
7,500,000 - 7,500,000
7,500,000 - 7,500,000
7,500,000 - 7,500,000
7,500,000 - 7,500,000
 7,500,000 - 7,500,000
7,500,000 - 7,500,000
7,500,000 - 7,500,000
7,500,000 - 7,500,000
7,500,000 - 7,500,000
507,500,000 - 507,500,000

TASA 1.5%
VPN
TIR 2%
DEUDORES
Prestamo empleado
periodo 3
intereses 0%
tasa de mercado 4.50%

valor Actual -$ 8,762,966.04

10,000,000
PERIODO SALDO INICIAL INTERES FLUJO REAL SALDO FINAL
0 -$ 8,762,966.04 $ 8,762,966.04
1 $ 8,762,966.04 $ 394,333.47 0 $ 9,157,299.51
2 $ 9,157,299.51 $ 412,078.48 0 $ 9,569,377.99
3 $ 9,569,377.99 $ 430,622.01 $ 10,000,000.00 0

C XC EMPLEADOS 8,762,966
GASTO FINANCIERO 1,237,034 10,000,000.0

CXC EMPLEADOS $ 394,333.47

INGRESO FINANCIERO $ 394,333.47

C XC EMPLEADOS $ 412,078.48
GASTO FINANCIERO $ 412,078.48

C XC EMPLEADOS $ 430,622.01
GASTO FINANCIERO $ 430,622.01

BANCOS 10,000,000
CXC EMPLEADOS 10,000,000

GASTO 9,500,000
VALOR P 510,000,000
PERIODO 10
TASA 8%
CAPITAL INTERESES CUOTA SALDO
- 510,000,000
1 -$ 35,205,039.24 -$ 40,800,000.00 -$ 76,005,039.24 $ 474,794,960.76
2 -$ 38,021,442.37 -$ 37,983,596.86 -$ 76,005,039.24 $ 436,773,518.39
 3 -$ 41,063,157.76 -$ 34,941,881.47 -$ 76,005,039.24 $ 395,710,360.63
4 -$ 44,348,210.39 -$ 31,656,828.85 -$ 76,005,039.24 $ 351,362,150.24
5 -$ 47,896,067.22 -$ 28,108,972.02 -$ 76,005,039.24 $ 303,466,083.02
6 -$ 51,727,752.59 -$ 24,277,286.64 -$ 76,005,039.24 $ 251,738,330.43
7 -$ 55,865,972.80 -$ 20,139,066.43 -$ 76,005,039.24 $ 195,872,357.63
8 -$ 60,335,250.63 -$ 15,669,788.61 -$ 76,005,039.24 $ 135,537,107.00
9 -$ 65,162,070.68 -$ 10,842,968.56 -$ 76,005,039.24 $ 70,375,036.33
10 -$ 70,375,036.33 -$ 5,630,002.91 -$ 76,005,039.24 $ 0.00
-$ 250,050,392.36 TIR

RECONOCIMIENTO INICIAL
Bancos $ 500,500,000.00
Obligacion financiera a corto plazo $ 33,867,856.87
Obligacion financiera a largo plazo 466,632,143.13

1 año gastos por interses $ 42,137,182.36

intereses por pagar $ 40,800,000.00
Obligacion financiera a corto plazo $ 1,337,182.36

2 año Obligacion financiera a corto plazo $ 36,719,197.65

Obligacion financiera a largo plazo $ 36,719,197.65

gatos por intereses $ 39,285,841.58

intereses por pagar $ 37,983,596.86
obligacion financiera a corto plazo $ 1,302,244.72

pago
Obligacion financiera a corto plazo $ 38,021,442.37
intereses por pago $ 37,983,596.86
bancos $ 76,005,039.24
 FLUJO REAL ABONO CAPITAL INTERES CUOTA SALDO
500,500,000 500,500,000
-$ 76,005,039.24 -$ 33,867,856.87 -$ 42,137,182.36 -$ 76,005,039.24 466,632,143.13
-$ 76,005,039.24 -$ 36,719,197.65 -$ 39,285,841.58 -$ 76,005,039.24 429,912,945.47
-$ 76,005,039.24 -$ 39,810,593.31
-$ 76,005,039.24 -$ 43,162,254.11
-$ 76,005,039.24 -$ 46,796,091.82
-$ 76,005,039.24 -$ 50,735,862.96
-$ 76,005,039.24 -$ 55,007,324.12
-$ 76,005,039.24 -$ 59,638,400.34
-$ 76,005,039.24 -$ 64,659,367.67
-$ 76,005,039.24 -$ 70,103,051.12
8.4190%
-$ 36,194,445.92 -$ 76,005,039.24 390,102,352.16
-$ 32,842,785.12 -$ 76,005,039.24 346,940,098.04
-$ 29,208,947.41 -$ 76,005,039.24 300,144,006.22
-$ 25,269,176.27 -$ 76,005,039.24 249,408,143.26
-$ 20,997,715.12 -$ 76,005,039.24 194,400,819.14
-$ 16,366,638.90 -$ 76,005,039.24 134,762,418.80
-$ 11,345,671.56 -$ 76,005,039.24 70,103,051.12
-$ 5,901,988.11 -$ 76,005,039.24 -
$ 0.00

pago
Obligacion financiera a corto plazo $ 35,205,039.24
intereses por pagar $ 40,800,000.00
bancos $ 76,005,039.24

Obligacion financiera a corto plazo $ 0.00

Obligacion financiera a largo plazo 429,912,945.47
saldo en contabilidad
Obligacion financiera a corto plazo $ 0.00
Obligacion financiera a largo plazo 466,632,143.13