SOLUCION DE PROBLEMAS PLANTEADOS

SEGUNDA PARTE CICLO 2020 2

PPROBLEMA 1

TUBERIA DE 250 mm

i = 15%

0 1 2 20

35,000

VAN 250 = - 35,000

TUBERIA DE 300 mm

i = 15% 3,000 3,000 3,000 3,000

n = 20

0 1 2 20

55,000
20 20
VAN 300 = - 55,000 + 3000 [ (1.15) - 1/0.15(1.15)

VAN 300 = - 55,000 + 3000 x(6.2593)

VAN 300 = - 55,000 + 18,779.9
VAN 300 = -36,222.10

RPTA: Se elige tuberia de 250 mm., tien mejpr VAN

PROBLEMA 2
2800
COMPRA
i = 20% n=4 y G = 50

0 1 2 3 4
950
1000
1050
1100
8300
'4 '4 v '4 '2 4 '4
VAN C = - 8300 - 950 [ (1.2) -1 / 0.2 (1.2) ] - 50 [ (1.2) - 0.2 x 4 - 1/ 0.2 (1.2) ] + 2800/(1.2)

VAN C = - 8300 - 2,459.26 - 164.93 + 1,350

VAN C = - 9,573.76

ALQUILER
i = 20% n=4 G = 50
0 1 2 3 4
850
900
950 1000
3500 3500 3500 3500

'3 '3 '4 '4 '4 '2 '4

VAN A = - 3500 - 3500 [ (1.2) - 1 / 0.2 (1.2) ] - 850 [ (1.2) -1 /0.2 (1.2) ] - 50 [ (1.2) - 0.2x4 - 1/0.2 (1.2) ]

VAN A = - 3500 - 7,372.75 - 2,200 - 164.93

VAN A = - 13,238.08
RPTA. Se eleige la compra porque tiene mejor VAN

PROBLEMA 4
60

19 20 19
10 10

=
0 1 2 3 4 5 0 1 2

50 50

CALACULO DE F
2
F = 19( 1.06) + 10(1.06) F = 31.95
 60 60

F = 31.95
20 20

=
1 2 3 50.00 - 1 2 3
31.95
18.05
50 50 50

CALCULO DE LA TIR
INTERPOLANDO
Si TIR = 10% :
'2 '3 10 % _____________ -1.89
- 18.05 - 50/(1.1) + 20/(1.1) + 60/(1,1) 8 % ______________ 0.43
- 18.05 - 45.45 + 16.53 + 45.08 = - 1,89
2 % _______________ - 2.32
Si TIR = 8 % : X _______________ - 1.89
'2 '3
- 18.05 - 50/(1.08) + 20/(1.08) + 60/(1,08) X = 2% x - 1,89/ -2.32 = 1.63%
- 18.05 - 46.30 + 17.15 + 47.63 = 0.43 Por lo tanto TIR = 10 % - 1.63%
TIR = 8.37%
F F 60
20

=
0 1 2 3

50 50
PROBLEMA 3 :

CON POLIURETANO

6000 6000 6000 600 6000 6000 6000 6000 6000

0 1 2 3 4 5 6 15 18 21 24

2500 2500 2500 2500 2500

35000 i=15%

VALOR PRESENTE DE LOS GASTOS DE PINTADO CADA 3 AÑOS

3 6 9 21
P1 = 2500/(1.15) + 2500/(1.15) + 2500/(11.15) + …….. 2500/(1.15)
P1= 4545

P = 35000 + 4545 = 39545

24 24
CAUEp = 6000 - 39545 [0.15(1.15)/(1.15) - 1)]
CAUEp = 6000 - 6146.47
CAUEp = -146

CON FIBRA DE VIDRIO

2500 2500 2500 2500 2500 2500 2500 2500 2500 2500 2500

0 1 2 3 4 5 6 15 18 21 24

12000 i=15% n = 24

24 24
CAUEfv = -12,000[0.15(1.15)/(1.15) - 1] + 2,500
CAUEfv = -12,000 (0.1554) + 2,500 = -1864.8 +2500
CAUEfv = 635.2

Rpta. Se elige Fibra de Vidrio porque tiene mejor CAUE

PROBLEMA 4
60
F F
19 20 20
10 19
10
= +
0 1 2 3 4 5 0 1 2 0 1 2

50 50 50 50
2 1
F = 19(1.06) + 10(1.06) = 21.35 + 10.6 = 31.95

60
20 CALCULO DE LA TIR

S i la TIR es 10%
2
0 1 2 3 -18,05 - 50/(1,1) + '20/(1,1) +
50.00 - -1.89
31.95
18.05 S i la TIR es 8%
50
2
-18-05 - 50/(1.08) + '20/(1,08) +
0.43
INTERPOLANDO

10% ___________ -1.89

8% ___________ 0.43
2% ___________ -2.32 X= 2% x -1.89/ - 2.32
x% ___________ -1.89 X= 1.63%
Por lo tanto:
TIR = 10% - 1.63%
TIR = 8.37%

Rpta. Cosiderando que la empresa tien euna TMA 10%, no seria una buena inversion

TIR < TMA

8.37% < 10%
 60

3
60/(1,1)

3
60/(1.08)

buena inversion
 COSTO DE CAPITAL

EJEMPLO 1
Monto total = 800,000
Prestamo = 560,000 i = 16%
Capital Propio = 240,000 i = 12% 9% 4% 2.50%

K = (560,000/800,000)x16% + (240,000/800,000) x 12%

K = 11.2% + 3.6% = 14.8%

K = (560,000/800,000)x16% + (240,000/800,000) x 9%

K = 11.2% + 2.7 % = 13.9 %

K = (560,000/800,000)x16% + (240,000/800,000) x 4%

K = 11.2% + 1.2 % = 12.4 %

K = (560,000/800,000)x16% + (240,000/800,000) x 2.5 %

K = 11.2% + 0.75 % = 11.95 %

EJEMPLO 2
Monto total = 800,000
Prestamo 1 = 360,000 i = 16%
Prestamo 2 = 200,000 i = 14%
Capital Propio = 240,000 i = 12%

K = (360,000/800,000)x16% + (200,000/800,000)X14% + (240,000/800,000) x 12%

K = 7.2% + 3.5% + 3.6% = 14.3 %

,000) x 12%