TRABAJO GESTIÓN ECONÓMICA

CORTE 4

EJERCICIOS TALLER

ELVIA ROCÍO GUZMÁN CABALLERO

CÓDIGO. 11131526462

UNIVERSIDAD ANTONIO NARIÑO

INGENIERÍA ELECTROMECÁNICA
1. Una persona solicita un préstamo el día 1 de junio de 2018 y debe efectuar pagos mensuales de $ 420.000,00, desde e
julio de 2018, hasta el 1 de marzo de 2024. Si le cobran un interés del 4,9% efectivo trimestral, ¿cuál es el valor del prést

Datos del punto

Valor prestamo $ 17,434,208.00

Valor Cuota $ 420,000.00
I Trimestral 4.90%
I Mes 1.61%
Nº. Cuota 69

Nº. Cuota Fecha Saldo Ant Interes Cuota

0 1-jun-18 $ - $ - $ -
1 1-jul-18 $ - $ 6,644.11 $ 420,000.00
2 1-ago-18 $ 413,355.89 $ 13,183.12 $ 420,000.00
3 1-sep-18 $ 820,172.77 $ 19,618.68 $ 420,000.00
4 1-oct-18 $ 1,220,554.08 $ 25,952.44 $ 420,000.00
5 1-nov-18 $ 1,614,601.64 $ 32,186.01 $ 420,000.00
6 1-dic-18 $ 2,002,415.63 $ 38,320.96 $ 420,000.00
7 1-ene-19 $ 2,384,094.68 $ 44,358.86 $ 420,000.00
8 1-feb-19 $ 2,759,735.82 $ 50,301.24 $ 420,000.00
9 1-mar-19 $ 3,129,434.57 $ 56,149.63 $ 420,000.00
10 1-abr-19 $ 3,493,284.95 $ 61,905.49 $ 420,000.00
11 1-may-19 $ 3,851,379.46 $ 67,570.30 $ 420,000.00
12 1-jun-19 $ 4,203,809.16 $ 73,145.50 $ 420,000.00
13 1-jul-19 $ 4,550,663.66 $ 78,632.50 $ 420,000.00
14 1-ago-19 $ 4,892,031.16 $ 84,032.70 $ 420,000.00
15 1-sep-19 $ 5,227,998.47 $ 89,347.47 $ 420,000.00
16 1-oct-19 $ 5,558,651.00 $ 94,578.17 $ 420,000.00
17 1-nov-19 $ 5,884,072.83 $ 99,726.12 $ 420,000.00
18 1-dic-19 $ 6,204,346.71 $ 104,792.63 $ 420,000.00
19 1-ene-20 $ 6,519,554.08 $ 109,779.00 $ 420,000.00
20 1-feb-20 $ 6,829,775.08 $ 114,686.48 $ 420,000.00
21 1-mar-20 $ 7,135,088.60 $ 119,516.33 $ 420,000.00
22 1-abr-20 $ 7,435,572.27 $ 124,269.78 $ 420,000.00
23 1-may-20 $ 7,731,302.49 $ 128,948.03 $ 420,000.00
24 1-jun-20 $ 8,022,354.47 $ 133,552.27 $ 420,000.00
25 1-jul-20 $ 8,308,802.20 $ 138,083.68 $ 420,000.00
26 1-ago-20 $ 8,590,718.52 $ 142,543.40 $ 420,000.00
27 1-sep-20 $ 8,868,175.12 $ 146,932.57 $ 420,000.00
28 1-oct-20 $ 9,141,242.55 $ 151,252.31 $ 420,000.00
29 1-nov-20 $ 9,409,990.23 $ 155,503.72 $ 420,000.00
30 1-dic-20 $ 9,674,486.51 $ 159,687.87 $ 420,000.00
31 1-ene-21 $ 9,934,798.65 $ 163,805.83 $ 420,000.00
32 1-feb-21 $ 10,190,992.82 $ 167,858.64 $ 420,000.00
33 1-mar-21 $ 10,443,134.17 $ 171,847.35 $ 420,000.00
34 1-abr-21 $ 10,691,286.82 $ 175,772.95 $ 420,000.00
35 1-may-21 $ 10,935,513.87 $ 179,636.46 $ 420,000.00
36 1-jun-21 $ 11,175,877.41 $ 183,438.84 $ 420,000.00
37 1-jul-21 $ 11,412,438.57 $ 187,181.08 $ 420,000.00
38 1-ago-21 $ 11,645,257.49 $ 190,864.12 $ 420,000.00
39 1-sep-21 $ 11,874,393.37 $ 194,488.89 $ 420,000.00
40 1-oct-21 $ 12,099,904.48 $ 198,056.32 $ 420,000.00
41 1-nov-21 $ 12,321,848.16 $ 201,567.32 $ 420,000.00
42 1-dic-21 $ 12,540,280.84 $ 205,022.77 $ 420,000.00
43 1-ene-22 $ 12,755,258.07 $ 208,423.57 $ 420,000.00
44 1-feb-22 $ 12,966,834.50 $ 211,770.56 $ 420,000.00
45 1-mar-22 $ 13,175,063.94 $ 215,064.61 $ 420,000.00
46 1-abr-22 $ 13,379,999.33 $ 218,306.55 $ 420,000.00
47 1-may-22 $ 13,581,692.79 $ 221,497.20 $ 420,000.00
48 1-jun-22 $ 13,780,195.59 $ 224,637.38 $ 420,000.00
49 1-jul-22 $ 13,975,558.22 $ 227,727.88 $ 420,000.00
50 1-ago-22 $ 14,167,830.34 $ 230,769.49 $ 420,000.00
51 1-sep-22 $ 14,357,060.84 $ 233,762.99 $ 420,000.00
52 1-oct-22 $ 14,543,297.85 $ 236,709.13 $ 420,000.00
53 1-nov-22 $ 14,726,588.72 $ 239,608.67 $ 420,000.00
54 1-dic-22 $ 14,906,980.05 $ 242,462.34 $ 420,000.00
55 1-ene-23 $ 15,084,517.72 $ 245,270.86 $ 420,000.00
56 1-feb-23 $ 15,259,246.86 $ 248,034.96 $ 420,000.00
57 1-mar-23 $ 15,431,211.90 $ 250,755.32 $ 420,000.00
58 1-abr-23 $ 15,600,456.58 $ 253,432.66 $ 420,000.00
59 1-may-23 $ 15,767,023.92 $ 256,067.64 $ 420,000.00
60 1-jun-23 $ 15,930,956.28 $ 258,660.94 $ 420,000.00
61 1-jul-23 $ 16,092,295.34 $ 261,213.21 $ 420,000.00
62 1-ago-23 $ 16,251,082.13 $ 263,725.11 $ 420,000.00
63 1-sep-23 $ 16,407,357.02 $ 266,197.27 $ 420,000.00
64 1-oct-23 $ 16,561,159.75 $ 268,630.33 $ 420,000.00
65 1-nov-23 $ 16,712,529.42 $ 271,024.89 $ 420,000.00
66 1-dic-23 $ 16,861,504.53 $ 273,381.57 $ 420,000.00
67 1-ene-24 $ 17,008,122.96 $ 275,700.98 $ 420,000.00
68 1-feb-24 $ 17,152,421.98 $ 277,983.69 $ 420,000.00
69 1-mar-24 $ 17,294,438.29 $ 280,230.29 $ 420,000.00
 pagos mensuales de $ 420.000,00, desde el 1 de
ectivo trimestral, ¿cuál es el valor del préstamo?

Abono a Capital Nuevo Saldo

$ 413,355.89 $ 413,355.89
$ 406,816.88 $ 820,172.77
$ 400,381.32 $ 1,220,554.08
$ 394,047.56 $ 1,614,601.64
$ 387,813.99 $ 2,002,415.63
$ 381,679.04 $ 2,384,094.68
$ 375,641.14 $ 2,759,735.82
$ 369,698.76 $ 3,129,434.57
$ 363,850.37 $ 3,493,284.95
$ 358,094.51 $ 3,851,379.46
$ 352,429.70 $ 4,203,809.16
$ 346,854.50 $ 4,550,663.66
$ 341,367.50 $ 4,892,031.16
$ 335,967.30 $ 5,227,998.47
$ 330,652.53 $ 5,558,651.00
$ 325,421.83 $ 5,884,072.83
$ 320,273.88 $ 6,204,346.71
$ 315,207.37 $ 6,519,554.08
$ 310,221.00 $ 6,829,775.08
$ 305,313.52 $ 7,135,088.60
$ 300,483.67 $ 7,435,572.27
$ 295,730.22 $ 7,731,302.49
$ 291,051.97 $ 8,022,354.47
$ 286,447.73 $ 8,308,802.20
$ 281,916.32 $ 8,590,718.52
$ 277,456.60 $ 8,868,175.12
$ 273,067.43 $ 9,141,242.55
$ 268,747.69 $ 9,409,990.23
$ 264,496.28 $ 9,674,486.51
$ 260,312.13 $ 9,934,798.65
$ 256,194.17 $ 10,190,992.82
$ 252,141.36 $ 10,443,134.17
$ 248,152.65 $ 10,691,286.82
$ 244,227.05 $ 10,935,513.87
$ 240,363.54 $ 11,175,877.41
$ 236,561.16 $ 11,412,438.57
$ 232,818.92 $ 11,645,257.49
$ 229,135.88 $ 11,874,393.37
$ 225,511.11 $ 12,099,904.48
$ 221,943.68 $ 12,321,848.16
$ 218,432.68 $ 12,540,280.84
$ 214,977.23 $ 12,755,258.07
$ 211,576.43 $ 12,966,834.50
$ 208,229.44 $ 13,175,063.94
$ 204,935.39 $ 13,379,999.33
$ 201,693.45 $ 13,581,692.79
$ 198,502.80 $ 13,780,195.59
$ 195,362.62 $ 13,975,558.22
$ 192,272.12 $ 14,167,830.34
$ 189,230.51 $ 14,357,060.84
$ 186,237.01 $ 14,543,297.85
$ 183,290.87 $ 14,726,588.72
$ 180,391.33 $ 14,906,980.05
$ 177,537.66 $ 15,084,517.72
$ 174,729.14 $ 15,259,246.86
$ 171,965.04 $ 15,431,211.90
$ 169,244.68 $ 15,600,456.58
$ 166,567.34 $ 15,767,023.92
$ 163,932.36 $ 15,930,956.28
$ 161,339.06 $ 16,092,295.34
$ 158,786.79 $ 16,251,082.13
$ 156,274.89 $ 16,407,357.02
$ 153,802.73 $ 16,561,159.75
$ 151,369.67 $ 16,712,529.42
$ 148,975.11 $ 16,861,504.53
$ 146,618.43 $ 17,008,122.96
$ 144,299.02 $ 17,152,421.98
$ 142,016.31 $ 17,294,438.29
$ 139,769.71 $ 17,434,208.00
 Flujo de caja punto 1
18000000

16000000

14000000

12000000

10000000

8000000

6000000

4000000

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0
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 51 52 53 54
55 56 57 58 59 60
61 62 63 64 65 66
67 68 69 $ 17,434,208.00
2. Una máquina tiene un precio de contado de $ 150.000.000,00. Una empresa la adquiere mediante un pago inicial del
máquina, y el resto a 48 pagos mensuales de $ 2.800.000,00 ¿Qué tasa efectiva anual se está cobra

Datos de la maquina

COSTO DE LA MAQUINA $ 150,000,000.00

CUOTA INICIAL 40% $ 60,000,000.00
SALDO A FINANCIAR 60% $ 90,000,000.00
I E.A 23.47%

Nº. Cuota Fecha Saldo Ant Interes

0 3-oct-22
1 3-nov-22 $ 90,000,000.00 $ 1,595,251.22
2 3-dic-22 $ 88,795,251.22 $ 1,573,897.04
3 3-ene-23 $ 87,569,148.26 $ 1,552,164.34
4 3-feb-23 $ 86,321,312.60 $ 1,530,046.44
5 3-mar-23 $ 85,051,359.04 $ 1,507,536.50
6 3-abr-23 $ 83,758,895.54 $ 1,484,627.56
7 3-may-23 $ 82,443,523.10 $ 1,461,312.57
8 3-jun-23 $ 81,104,835.67 $ 1,437,584.32
9 3-jul-23 $ 79,742,419.99 $ 1,413,435.48
10 3-ago-23 $ 78,355,855.46 $ 1,388,858.60
11 3-sep-23 $ 76,944,714.07 $ 1,363,846.10
12 3-oct-23 $ 75,508,560.17 $ 1,338,390.26
13 3-nov-23 $ 74,046,950.43 $ 1,312,483.20
14 3-dic-23 $ 72,559,433.63 $ 1,286,116.95
15 3-ene-24 $ 71,045,550.58 $ 1,259,283.35
16 3-feb-24 $ 69,504,833.93 $ 1,231,974.13
17 3-mar-24 $ 67,936,808.05 $ 1,204,180.85
18 3-abr-24 $ 66,340,988.90 $ 1,175,894.93
19 3-may-24 $ 64,716,883.83 $ 1,147,107.65
20 3-jun-24 $ 63,063,991.48 $ 1,117,810.11
21 3-jul-24 $ 61,381,801.58 $ 1,087,993.27
22 3-ago-24 $ 59,669,794.85 $ 1,057,647.93
23 3-sep-24 $ 57,927,442.78 $ 1,026,764.71
24 3-oct-24 $ 56,154,207.49 $ 995,334.09
25 3-nov-24 $ 54,349,541.58 $ 963,346.36
26 3-dic-24 $ 52,512,887.94 $ 930,791.65
27 3-ene-25 $ 50,643,679.60 $ 897,659.91
28 3-feb-25 $ 48,741,339.51 $ 863,940.91
29 3-mar-25 $ 46,805,280.41 $ 829,624.23
30 3-abr-25 $ 44,834,904.64 $ 794,699.29
31 3-may-25 $ 42,829,603.94 $ 759,155.31
32 3-jun-25 $ 40,788,759.25 $ 722,981.31
33 3-jul-25 $ 38,711,740.56 $ 686,166.13
34 3-ago-25 $ 36,597,906.69 $ 648,698.39
35 3-sep-25 $ 34,446,605.09 $ 610,566.54
36 3-oct-25 $ 32,257,171.63 $ 571,758.81
37 3-nov-25 $ 30,028,930.43 $ 532,263.20
38 3-dic-25 $ 27,761,193.64 $ 492,067.53
39 3-ene-26 $ 25,453,261.17 $ 451,159.40
40 3-feb-26 $ 23,104,420.57 $ 409,526.17
41 3-mar-26 $ 20,713,946.74 $ 367,154.99
42 3-abr-26 $ 18,281,101.73 $ 324,032.78
43 3-may-26 $ 15,805,134.50 $ 280,146.22
44 3-jun-26 $ 13,285,280.73 $ 235,481.78
45 3-jul-26 $ 10,720,762.51 $ 190,025.66
46 3-ago-26 $ 8,110,788.17 $ 143,763.83
47 3-sep-26 $ 5,454,552.00 $ 96,682.01
48 3-oct-26 $ 2,751,234.01 $ 48,765.66
 presa la adquiere mediante un pago inicial del 40% sobre este valor de la
0.000,00 ¿Qué tasa efectiva anual se está cobrando?

Datos del crédito

Valor prestamo $ 90,000,000.00 $ 54,349,541.58

Valor Cuota $ 2,800,000.00
I Mes 1.773%
Nº. Cuota 48

Cuota Abono a Capital Nuevo Saldo

$ 90,000,000.00
$ 2,800,000.00 $ 1,204,748.78 $ 88,795,251.22
$ 2,800,000.00 $ 1,226,102.96 $ 87,569,148.26
$ 2,800,000.00 $ 1,247,835.66 $ 86,321,312.60
$ 2,800,000.00 $ 1,269,953.56 $ 85,051,359.04
$ 2,800,000.00 $ 1,292,463.50 $ 83,758,895.54
$ 2,800,000.00 $ 1,315,372.44 $ 82,443,523.10
$ 2,800,000.00 $ 1,338,687.43 $ 81,104,835.67
$ 2,800,000.00 $ 1,362,415.68 $ 79,742,419.99
$ 2,800,000.00 $ 1,386,564.52 $ 78,355,855.46
$ 2,800,000.00 $ 1,411,141.40 $ 76,944,714.07
$ 2,800,000.00 $ 1,436,153.90 $ 75,508,560.17
$ 2,800,000.00 $ 1,461,609.74 $ 74,046,950.43
$ 2,800,000.00 $ 1,487,516.80 $ 72,559,433.63
$ 2,800,000.00 $ 1,513,883.05 $ 71,045,550.58
$ 2,800,000.00 $ 1,540,716.65 $ 69,504,833.93
$ 2,800,000.00 $ 1,568,025.87 $ 67,936,808.05
$ 2,800,000.00 $ 1,595,819.15 $ 66,340,988.90
$ 2,800,000.00 $ 1,624,105.07 $ 64,716,883.83
$ 2,800,000.00 $ 1,652,892.35 $ 63,063,991.48
$ 2,800,000.00 $ 1,682,189.89 $ 61,381,801.58
$ 2,800,000.00 $ 1,712,006.73 $ 59,669,794.85
$ 2,800,000.00 $ 1,742,352.07 $ 57,927,442.78
$ 2,800,000.00 $ 1,773,235.29 $ 56,154,207.49
$ 2,800,000.00 $ 1,804,665.91 $ 54,349,541.58
$ 2,800,000.00 $ 1,836,653.64 $ 52,512,887.94
$ 2,800,000.00 $ 1,869,208.35 $ 50,643,679.60
$ 2,800,000.00 $ 1,902,340.09 $ 48,741,339.51
$ 2,800,000.00 $ 1,936,059.09 $ 46,805,280.41
$ 2,800,000.00 $ 1,970,375.77 $ 44,834,904.64
$ 2,800,000.00 $ 2,005,300.71 $ 42,829,603.94
$ 2,800,000.00 $ 2,040,844.69 $ 40,788,759.25
$ 2,800,000.00 $ 2,077,018.69 $ 38,711,740.56
$ 2,800,000.00 $ 2,113,833.87 $ 36,597,906.69
$ 2,800,000.00 $ 2,151,301.61 $ 34,446,605.09
$ 2,800,000.00 $ 2,189,433.46 $ 32,257,171.63
$ 2,800,000.00 $ 2,228,241.19 $ 30,028,930.43
$ 2,800,000.00 $ 2,267,736.80 $ 27,761,193.64
$ 2,800,000.00 $ 2,307,932.47 $ 25,453,261.17
$ 2,800,000.00 $ 2,348,840.60 $ 23,104,420.57
$ 2,800,000.00 $ 2,390,473.83 $ 20,713,946.74
$ 2,800,000.00 $ 2,432,845.01 $ 18,281,101.73
$ 2,800,000.00 $ 2,475,967.22 $ 15,805,134.50
$ 2,800,000.00 $ 2,519,853.78 $ 13,285,280.73
$ 2,800,000.00 $ 2,564,518.22 $ 10,720,762.51
$ 2,800,000.00 $ 2,609,974.34 $ 8,110,788.17
$ 2,800,000.00 $ 2,656,236.17 $ 5,454,552.00
$ 2,800,000.00 $ 2,703,317.99 $ 2,751,234.01
$ 2,800,000.00 $ 2,751,234.34 $ -0.33
 Flujo de caja punto 2
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80000000

70000000

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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 $ 90,000,000.00
 3. Una bodega se arrienda mediante un contrato que fija pagos anticipados de $ 5.000.000,00
mensuales al principio de cada mes, durante un año. Si el interés es del 9,0% efectivo anual;
¿Cuál será el pago único al inicio del contrato que cubre todo el arriendo de todo el año?

Datos contrato

Total arriendo $ 57,694,031.32

Arriendo $ 5,000,000.00
I E.A. 9.00%
I Mes 0.72%
Nº. Meses 12

Nº. Cuota Fecha Interes Arriendo Nuevo Saldo

0 3-oct-22
1 3-nov-22
2 3-dic-22
3 3-ene-23
4 3-feb-23
5 3-mar-23
6 3-abr-23
7 3-may-23
8 3-jun-23
9 3-jul-23
10 3-ago-23
11 3-sep-23
12 3-oct-23
$ - $ 5,000,000.00 $ -
$ 36,036.62 $ 5,000,000.00 $ 5,000,000.00
$ 71,815.36 $ 5,000,000.00 $ 9,964,221.25
$ 107,338.09 $ 5,000,000.00 $ 14,892,919.78
$ 142,606.62 $ 5,000,000.00 $ 19,786,349.78
$ 177,622.78 $ 5,000,000.00 $ 24,644,763.61
$ 212,388.37 $ 5,000,000.00 $ 29,468,411.86
$ 246,905.19 $ 5,000,000.00 $ 34,257,543.29
$ 281,175.02 $ 5,000,000.00 $ 39,012,404.89
$ 315,199.61 $ 5,000,000.00 $ 43,733,241.89
$ 348,980.74 $ 5,000,000.00 $ 48,420,297.76
$ 382,520.14 $ 5,000,000.00 $ 53,073,814.24
$ 415,819.54 $ 5,000,000.00 $ 57,694,031.32
 Flujo de caja punto 3
$ 60,000,000.00

$ 50,000,000.00

$ 40,000,000.00

$ 30,000,000.00

$ 20,000,000.00

$ 10,000,000.00

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

0 1 2 3 4 5 6 7 8 9 10 11 12
4. Doña María es una trabajadora independiente y el 1° de enero de 2018 decidió afiliarse a un fondo de
pensiones voluntarias, para ello hizo el primer pago de $ 150.000,00, el día 1° de febrero de 2018 y de
ahí en adelante este pago se incrementa cada mes en $ 10.000,00. El 1° de diciembre de 2029 realizará el
último pago. Si el fondo le reconoce un interés del 7,8 % EA, determinar la pensión que recibirá Doña
María a partir del 1° de enero de 2030, para el resto de su vida

Datos de la pension Datos de la pension

Cuota $ 150,000.00 Fecha Afiliación 1-ene-18

Incremento mensual (K) $ 10,000.00 Fecha 1er pago 1-feb-18
I E.A. 7.80% Fecha ultimo pago 1-dic-29
I Mes 0.63% Nº. Meses 143
Nº. Meses 143

Valor de la pension

valor final $ 173,992,389.34

Anualidad Perpetua $ 1,092,425.87

Nº. Cuota Fecha Saldo anterior Interes Cuota mes Nuevo Saldo
0 1-ene-18 $ - $ - $ - $ -
1 1-feb-18 $ - $ - $ 150,000.00 $ 150,000.00
2 1-mar-18 $ 150,000.00 $ 941.79 $ 160,000.00 $ 310,941.79
3 1-abr-18 $ 310,941.79 $ 1,952.27 $ 170,000.00 $ 482,894.06
4 1-may-18 $ 482,894.06 $ 3,031.89 $ 180,000.00 $ 665,925.95
5 1-jun-18 $ 665,925.95 $ 4,181.07 $ 190,000.00 $ 860,107.03
6 1-jul-18 $ 860,107.03 $ 5,400.25 $ 200,000.00 $ 1,065,507.28
7 1-ago-18 $ 1,065,507.28 $ 6,689.88 $ 210,000.00 $ 1,282,197.16
8 1-sep-18 $ 1,282,197.16 $ 8,050.38 $ 220,000.00 $ 1,510,247.54
 9 1-oct-18 $ 1,510,247.54 $ 9,482.22 $ 230,000.00 $ 1,749,729.76
10 1-nov-18 $ 1,749,729.76 $ 10,985.83 $ 240,000.00 $ 2,000,715.58
11 1-dic-18 $ 2,000,715.58 $ 12,561.66 $ 250,000.00 $ 2,263,277.24
12 1-ene-19 $ 2,263,277.24 $ 14,210.18 $ 260,000.00 $ 2,537,487.42
13 1-feb-19 $ 2,537,487.42 $ 15,931.83 $ 270,000.00 $ 2,823,419.25
14 1-mar-19 $ 2,823,419.25 $ 17,727.08 $ 280,000.00 $ 3,121,146.32
15 1-abr-19 $ 3,121,146.32 $ 19,596.38 $ 290,000.00 $ 3,430,742.70
16 1-may-19 $ 3,430,742.70 $ 21,540.21 $ 300,000.00 $ 3,752,282.91
17 1-jun-19 $ 3,752,282.91 $ 23,559.02 $ 310,000.00 $ 4,085,841.94
18 1-jul-19 $ 4,085,841.94 $ 25,653.30 $ 320,000.00 $ 4,431,495.24
19 1-ago-19 $ 4,431,495.24 $ 27,823.52 $ 330,000.00 $ 4,789,318.75
20 1-sep-19 $ 4,789,318.75 $ 30,070.14 $ 340,000.00 $ 5,159,388.90
21 1-oct-19 $ 5,159,388.90 $ 32,393.66 $ 350,000.00 $ 5,541,782.55
22 1-nov-19 $ 5,541,782.55 $ 34,794.55 $ 360,000.00 $ 5,936,577.10
23 1-dic-19 $ 5,936,577.10 $ 37,273.30 $ 370,000.00 $ 6,343,850.40
24 1-ene-20 $ 6,343,850.40 $ 39,830.40 $ 380,000.00 $ 6,763,680.80
25 1-feb-20 $ 6,763,680.80 $ 42,466.34 $ 390,000.00 $ 7,196,147.14
26 1-mar-20 $ 7,196,147.14 $ 45,181.62 $ 400,000.00 $ 7,641,328.76
27 1-abr-20 $ 7,641,328.76 $ 47,976.73 $ 410,000.00 $ 8,099,305.48
28 1-may-20 $ 8,099,305.48 $ 50,852.17 $ 420,000.00 $ 8,570,157.65
29 1-jun-20 $ 8,570,157.65 $ 53,808.46 $ 430,000.00 $ 9,053,966.11
30 1-jul-20 $ 9,053,966.11 $ 56,846.09 $ 440,000.00 $ 9,550,812.20
31 1-ago-20 $ 9,550,812.20 $ 59,965.58 $ 450,000.00 $ 10,060,777.78
32 1-sep-20 $ 10,060,777.78 $ 63,167.44 $ 460,000.00 $ 10,583,945.22
33 1-oct-20 $ 10,583,945.22 $ 66,452.19 $ 470,000.00 $ 11,120,397.41
34 1-nov-20 $ 11,120,397.41 $ 69,820.35 $ 480,000.00 $ 11,670,217.76
35 1-dic-20 $ 11,670,217.76 $ 73,272.45 $ 490,000.00 $ 12,233,490.21
36 1-ene-21 $ 12,233,490.21 $ 76,809.00 $ 500,000.00 $ 12,810,299.21
37 1-feb-21 $ 12,810,299.21 $ 80,430.54 $ 510,000.00 $ 13,400,729.75
38 1-mar-21 $ 13,400,729.75 $ 84,137.61 $ 520,000.00 $ 14,004,867.36
39 1-abr-21 $ 14,004,867.36 $ 87,930.74 $ 530,000.00 $ 14,622,798.10
40 1-may-21 $ 14,622,798.10 $ 91,810.47 $ 540,000.00 $ 15,254,608.57
41 1-jun-21 $ 15,254,608.57 $ 95,777.34 $ 550,000.00 $ 15,900,385.91
42 1-jul-21 $ 15,900,385.91 $ 99,831.91 $ 560,000.00 $ 16,560,217.83
43 1-ago-21 $ 16,560,217.83 $ 103,974.72 $ 570,000.00 $ 17,234,192.55
44 1-sep-21 $ 17,234,192.55 $ 108,206.33 $ 580,000.00 $ 17,922,398.88
45 1-oct-21 $ 17,922,398.88 $ 112,527.29 $ 590,000.00 $ 18,624,926.17
46 1-nov-21 $ 18,624,926.17 $ 116,938.17 $ 600,000.00 $ 19,341,864.34
47 1-dic-21 $ 19,341,864.34 $ 121,439.52 $ 610,000.00 $ 20,073,303.86
48 1-ene-22 $ 20,073,303.86 $ 126,031.93 $ 620,000.00 $ 20,819,335.79
49 1-feb-22 $ 20,819,335.79 $ 130,715.95 $ 630,000.00 $ 21,580,051.74
50 1-mar-22 $ 21,580,051.74 $ 135,492.17 $ 640,000.00 $ 22,355,543.92
51 1-abr-22 $ 22,355,543.92 $ 140,361.17 $ 650,000.00 $ 23,145,905.08
52 1-may-22 $ 23,145,905.08 $ 145,323.51 $ 660,000.00 $ 23,951,228.60
53 1-jun-22 $ 23,951,228.60 $ 150,379.81 $ 670,000.00 $ 24,771,608.40
54 1-jul-22 $ 24,771,608.40 $ 155,530.63 $ 680,000.00 $ 25,607,139.03
55 1-ago-22 $ 25,607,139.03 $ 160,776.58 $ 690,000.00 $ 26,457,915.61
56 1-sep-22 $ 26,457,915.61 $ 166,118.25 $ 700,000.00 $ 27,324,033.87
57 1-oct-22 $ 27,324,033.87 $ 171,556.25 $ 710,000.00 $ 28,205,590.11
58 1-nov-22 $ 28,205,590.11 $ 177,091.17 $ 720,000.00 $ 29,102,681.29
59 1-dic-22 $ 29,102,681.29 $ 182,723.64 $ 730,000.00 $ 30,015,404.92
60 1-ene-23 $ 30,015,404.92 $ 188,454.25 $ 740,000.00 $ 30,943,859.17
61 1-feb-23 $ 30,943,859.17 $ 194,283.63 $ 750,000.00 $ 31,888,142.80
62 1-mar-23 $ 31,888,142.80 $ 200,212.39 $ 760,000.00 $ 32,848,355.19
63 1-abr-23 $ 32,848,355.19 $ 206,241.17 $ 770,000.00 $ 33,824,596.35
64 1-may-23 $ 33,824,596.35 $ 212,370.58 $ 780,000.00 $ 34,816,966.93
65 1-jun-23 $ 34,816,966.93 $ 218,601.26 $ 790,000.00 $ 35,825,568.19
66 1-jul-23 $ 35,825,568.19 $ 224,933.85 $ 800,000.00 $ 36,850,502.04
67 1-ago-23 $ 36,850,502.04 $ 231,368.98 $ 810,000.00 $ 37,891,871.02
68 1-sep-23 $ 37,891,871.02 $ 237,907.30 $ 820,000.00 $ 38,949,778.32
69 1-oct-23 $ 38,949,778.32 $ 244,549.46 $ 830,000.00 $ 40,024,327.79
70 1-nov-23 $ 40,024,327.79 $ 251,296.11 $ 840,000.00 $ 41,115,623.90
71 1-dic-23 $ 41,115,623.90 $ 258,147.91 $ 850,000.00 $ 42,223,771.81
72 1-ene-24 $ 42,223,771.81 $ 265,105.51 $ 860,000.00 $ 43,348,877.32
 73 1-feb-24 $ 43,348,877.32 $ 272,169.58 $ 870,000.00 $ 44,491,046.89
74 1-mar-24 $ 44,491,046.89 $ 279,340.79 $ 880,000.00 $ 45,650,387.68
75 1-abr-24 $ 45,650,387.68 $ 286,619.80 $ 890,000.00 $ 46,827,007.48
76 1-may-24 $ 46,827,007.48 $ 294,007.31 $ 900,000.00 $ 48,021,014.80
77 1-jun-24 $ 48,021,014.80 $ 301,503.99 $ 910,000.00 $ 49,232,518.78
78 1-jul-24 $ 49,232,518.78 $ 309,110.52 $ 920,000.00 $ 50,461,629.30
79 1-ago-24 $ 50,461,629.30 $ 316,827.59 $ 930,000.00 $ 51,708,456.89
80 1-sep-24 $ 51,708,456.89 $ 324,655.90 $ 940,000.00 $ 52,973,112.79
81 1-oct-24 $ 52,973,112.79 $ 332,596.15 $ 950,000.00 $ 54,255,708.94
82 1-nov-24 $ 54,255,708.94 $ 340,649.04 $ 960,000.00 $ 55,556,357.98
83 1-dic-24 $ 55,556,357.98 $ 348,815.27 $ 970,000.00 $ 56,875,173.25
84 1-ene-25 $ 56,875,173.25 $ 357,095.57 $ 980,000.00 $ 58,212,268.82
85 1-feb-25 $ 58,212,268.82 $ 365,490.63 $ 990,000.00 $ 59,567,759.45
86 1-mar-25 $ 59,567,759.45 $ 374,001.20 $ 1,000,000.00 $ 60,941,760.65
87 1-abr-25 $ 60,941,760.65 $ 382,627.98 $ 1,010,000.00 $ 62,334,388.63
88 1-may-25 $ 62,334,388.63 $ 391,371.71 $ 1,020,000.00 $ 63,745,760.34
89 1-jun-25 $ 63,745,760.34 $ 400,233.13 $ 1,030,000.00 $ 65,175,993.46
90 1-jul-25 $ 65,175,993.46 $ 409,212.97 $ 1,040,000.00 $ 66,625,206.43
91 1-ago-25 $ 66,625,206.43 $ 418,311.97 $ 1,050,000.00 $ 68,093,518.40
92 1-sep-25 $ 68,093,518.40 $ 427,530.89 $ 1,060,000.00 $ 69,581,049.29
93 1-oct-25 $ 69,581,049.29 $ 436,870.48 $ 1,070,000.00 $ 71,087,919.77
94 1-nov-25 $ 71,087,919.77 $ 446,331.49 $ 1,080,000.00 $ 72,614,251.26
95 1-dic-25 $ 72,614,251.26 $ 455,914.69 $ 1,090,000.00 $ 74,160,165.95
96 1-ene-26 $ 74,160,165.95 $ 465,620.85 $ 1,100,000.00 $ 75,725,786.80
97 1-feb-26 $ 75,725,786.80 $ 475,450.73 $ 1,110,000.00 $ 77,311,237.53
98 1-mar-26 $ 77,311,237.53 $ 485,405.12 $ 1,120,000.00 $ 78,916,642.65
99 1-abr-26 $ 78,916,642.65 $ 495,484.79 $ 1,130,000.00 $ 80,542,127.44
100 1-may-26 $ 80,542,127.44 $ 505,690.53 $ 1,140,000.00 $ 82,187,817.97
101 1-jun-26 $ 82,187,817.97 $ 516,023.14 $ 1,150,000.00 $ 83,853,841.11
102 1-jul-26 $ 83,853,841.11 $ 526,483.40 $ 1,160,000.00 $ 85,540,324.51
103 1-ago-26 $ 85,540,324.51 $ 537,072.13 $ 1,170,000.00 $ 87,247,396.65
104 1-sep-26 $ 87,247,396.65 $ 547,790.13 $ 1,180,000.00 $ 88,975,186.78
105 1-oct-26 $ 88,975,186.78 $ 558,638.21 $ 1,190,000.00 $ 90,723,824.98
106 1-nov-26 $ 90,723,824.98 $ 569,617.18 $ 1,200,000.00 $ 92,493,442.16
107 1-dic-26 $ 92,493,442.16 $ 580,727.87 $ 1,210,000.00 $ 94,284,170.03
108 1-ene-27 $ 94,284,170.03 $ 591,971.10 $ 1,220,000.00 $ 96,096,141.13
109 1-feb-27 $ 96,096,141.13 $ 603,347.72 $ 1,230,000.00 $ 97,929,488.85
110 1-mar-27 $ 97,929,488.85 $ 614,858.54 $ 1,240,000.00 $ 99,784,347.39
111 1-abr-27 $ 99,784,347.39 $ 626,504.43 $ 1,250,000.00 $ 101,660,851.82
112 1-may-27 $ 101,660,851.82 $ 638,286.22 $ 1,260,000.00 $ 103,559,138.04
113 1-jun-27 $ 103,559,138.04 $ 650,204.77 $ 1,270,000.00 $ 105,479,342.81
114 1-jul-27 $ 105,479,342.81 $ 662,260.94 $ 1,280,000.00 $ 107,421,603.75
115 1-ago-27 $ 107,421,603.75 $ 674,455.59 $ 1,290,000.00 $ 109,386,059.34
116 1-sep-27 $ 109,386,059.34 $ 686,789.59 $ 1,300,000.00 $ 111,372,848.93
117 1-oct-27 $ 111,372,848.93 $ 699,263.81 $ 1,310,000.00 $ 113,382,112.74
118 1-nov-27 $ 113,382,112.74 $ 711,879.15 $ 1,320,000.00 $ 115,413,991.89
119 1-dic-27 $ 115,413,991.89 $ 724,636.47 $ 1,330,000.00 $ 117,468,628.36
120 1-ene-28 $ 117,468,628.36 $ 737,536.68 $ 1,340,000.00 $ 119,546,165.04
121 1-feb-28 $ 119,546,165.04 $ 750,580.67 $ 1,350,000.00 $ 121,646,745.70
122 1-mar-28 $ 121,646,745.70 $ 763,769.34 $ 1,360,000.00 $ 123,770,515.04
123 1-abr-28 $ 123,770,515.04 $ 777,103.60 $ 1,370,000.00 $ 125,917,618.65
124 1-may-28 $ 125,917,618.65 $ 790,584.38 $ 1,380,000.00 $ 128,088,203.02
125 1-jun-28 $ 128,088,203.02 $ 804,212.57 $ 1,390,000.00 $ 130,282,415.60
126 1-jul-28 $ 130,282,415.60 $ 817,989.12 $ 1,400,000.00 $ 132,500,404.72
127 1-ago-28 $ 132,500,404.72 $ 831,914.95 $ 1,410,000.00 $ 134,742,319.67
128 1-sep-28 $ 134,742,319.67 $ 845,991.00 $ 1,420,000.00 $ 137,008,310.67
129 1-oct-28 $ 137,008,310.67 $ 860,218.22 $ 1,430,000.00 $ 139,298,528.89
130 1-nov-28 $ 139,298,528.89 $ 874,597.55 $ 1,440,000.00 $ 141,613,126.44
131 1-dic-28 $ 141,613,126.44 $ 889,129.94 $ 1,450,000.00 $ 143,952,256.38
132 1-ene-29 $ 143,952,256.38 $ 903,816.37 $ 1,460,000.00 $ 146,316,072.75
133 1-feb-29 $ 146,316,072.75 $ 918,657.79 $ 1,470,000.00 $ 148,704,730.54
134 1-mar-29 $ 148,704,730.54 $ 933,655.18 $ 1,480,000.00 $ 151,118,385.72
135 1-abr-29 $ 151,118,385.72 $ 948,809.51 $ 1,490,000.00 $ 153,557,195.23
136 1-may-29 $ 153,557,195.23 $ 964,121.79 $ 1,500,000.00 $ 156,021,317.01
137 1-jun-29 $ 156,021,317.01 $ 979,592.98 $ 1,510,000.00 $ 158,510,910.00
138 1-jul-29 $ 158,510,910.00 $ 995,224.10 $ 1,520,000.00 $ 161,026,134.10
139 1-ago-29 $ 161,026,134.10 $ 1,011,016.15 $ 1,530,000.00 $ 163,567,150.24
140 1-sep-29 $ 163,567,150.24 $ 1,026,970.13 $ 1,540,000.00 $ 166,134,120.37
141 1-oct-29 $ 166,134,120.37 $ 1,043,087.07 $ 1,550,000.00 $ 168,727,207.44
142 1-nov-29 $ 168,727,207.44 $ 1,059,367.98 $ 1,560,000.00 $ 171,346,575.43
143 1-dic-29 $ 171,346,575.43 $ 1,075,813.91 $ 1,570,000.00 $ 173,992,389.34
 Flujo de caja punto 4
180000000
130000000
80000000
30000000
-20000000

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 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 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
133 134 135 136 137 138
139 140 141 142 143 $ 173,992,389.34
5. Una empresa adquiere una máquina mediante la modalidad de leasing con las siguientes características:
 Valor de la máquina: $30.000.000,00
 Tiempo: 6 años
 Cuota anual de leasing: $7.500.000,00
 Opción de compra de la máquina al finalizar el quinto año: $ 1.200.000,00
Determinar la tasa efectiva anual que representa la adquisición de esta máquina

Datos Leasing

Costo de la maquina $ 30,000,000.00

Cuota Anual $ 7,500,000.00
I E.A. 12.98%
Nº. Años 6
Opción de compra $ 1,200,000.00

Nº. Cuota Fecha Saldo Ant Interes Cuota

0 3-oct-22
1 3-nov-22
2 3-dic-22
3 3-ene-23
4 3-feb-23
5 3-mar-23
6 3-abr-23
$ 30,000,000.00 $ 3,893,400.00 $ 7,500,000.00
$ 26,393,400.00 $ 3,425,335.45 $ 7,500,000.00
$ 22,318,735.45 $ 2,896,525.49 $ 7,500,000.00
$ 17,715,260.94 $ 2,299,086.56 $ 7,500,000.00
$ 12,514,347.50 $ 1,624,112.02 $ 7,500,000.00
$ 6,638,459.52 $ 861,539.28 $ 7,500,000.00
entes características:

Abono a Capital Nuevo Saldo

$ 30,000,000.00
$ 3,606,600.00 $ 26,393,400.00
$ 4,074,664.55 $ 22,318,735.45
$ 4,603,474.51 $ 17,715,260.94
$ 5,200,913.44 $ 12,514,347.50
$ 5,875,887.98 $ 6,638,459.52
$ 6,638,460.72 $ -1.20
 Flujo de caja punto 5
$ 30,000,000.00

$ 25,000,000.00

$ 20,000,000.00

$ 15,000,000.00

$ 10,000,000.00

$ 5,000,000.00

$-
0 1 2 3 4 5 6

0 1 2 3 4 5 6
6. En la siguiente tabla de pagos mensuales vencidos con un interés del 32,5% EA, calcular el valor
presente y el valor futuro.

Datos del credito

Cuota $ 400,000.00 Valor futuro Valor Presente

Incremento mensual (K) $ 25,000.00 $ 7,266,463.04 $ 5,484,123.05
I E.A. 32.50%
I Mes 2.37%
Nº. Meses 12

Cuota con Cuota con interes Cuota con interes en

Nº. Cuota Fecha incremento en futuro Valor futuro presente Valor presente

0 3-oct-22 $ - $ - $ - $ - $ -
1 3-nov-22 $ 400,000.00 $ 517,715.55 $ 517,715.55 $ 390,728.72 $ 390,728.72
2 3-dic-22 $ 425,000.00 $ 537,323.08 $ 1,055,038.63 $ 405,526.85 $ 796,255.57
3 3-ene-23 $ 450,000.00 $ 555,743.54 $ 1,610,782.17 $ 419,429.09 $ 1,215,684.66
4 3-feb-23 $ 475,000.00 $ 573,021.43 $ 2,183,803.60 $ 432,469.00 $ 1,648,153.66
5 3-mar-23 $ 500,000.00 $ 589,199.81 $ 2,773,003.41 $ 444,679.10 $ 2,092,832.76
6 3-abr-23 $ 525,000.00 $ 604,320.38 $ 3,377,323.80 $ 456,090.85 $ 2,548,923.62
7 3-may-23 $ 550,000.00 $ 618,423.48 $ 3,995,747.28 $ 466,734.70 $ 3,015,658.32
8 3-jun-23 $ 575,000.00 $ 631,548.16 $ 4,627,295.43 $ 476,640.12 $ 3,492,298.44
9 3-jul-23 $ 600,000.00 $ 643,732.18 $ 5,271,027.61 $ 485,835.61 $ 3,978,134.05
10 3-ago-23 $ 625,000.00 $ 655,012.11 $ 5,926,039.72 $ 494,348.76 $ 4,472,482.81
11 3-sep-23 $ 650,000.00 $ 665,423.31 $ 6,591,463.04 $ 502,206.28 $ 4,974,689.09
12 3-oct-23 $ 675,000.00 $ 675,000.00 $ 7,266,463.04 $ 509,433.96 $ 5,484,123.05
 Flujo de caja punto 6.
$ 700,000.00

$ 600,000.00

$ 500,000.00

$ 400,000.00

$ 300,000.00

$ 200,000.00

$ 100,000.00

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

Cuota con incremento $- $-

7. En el siguiente flujo de caja determinar el interés mensual

Datos del credito

Valor Credito $ 15,000,000.00 Valor Presente

Cuota $ 1,200,000.00 $ 15,000,000.48
Incremento mensual (K) $ 100,000.00
I Mes 1.62%
Nº. Meses 10

Nº. Cuota Fecha Saldo anterior Cuota mes Cuota con interes Nuevo Saldo

0 3-oct-22 $ - $ - $ - $ -
1 3-nov-22 $ - $ 1,200,000.00 $ 1,180,884.96 $ 1,180,884.96
2 3-dic-22 $ 1,180,884.96 $ 1,300,000.00 $ 1,258,913.93 $ 2,439,798.89
3 3-ene-23 $ 2,439,798.89 $ 1,400,000.00 $ 1,334,157.39 $ 3,773,956.28
4 3-feb-23 $ 3,773,956.28 $ 1,500,000.00 $ 1,406,684.28 $ 5,180,640.57
5 3-mar-23 $ 5,180,640.57 $ 1,600,000.00 $ 1,476,562.05 $ 6,657,202.62
6 3-abr-23 $ 6,657,202.62 $ 1,700,000.00 $ 1,543,856.69 $ 8,201,059.31
7 3-may-23 $ 8,201,059.31 $ 1,800,000.00 $ 1,608,632.77 $ 9,809,692.08
8 3-jun-23 $ 9,809,692.08 $ 1,900,000.00 $ 1,670,953.45 $ 11,480,645.54
9 3-jul-23 $ 11,480,645.54 $ 2,000,000.00 $ 1,730,880.52 $ 13,211,526.06
10 3-ago-23 $ 13,211,526.06 $ 2,100,000.00 $ 1,788,474.42 $ 15,000,000.48
 Flujo de caja punto 7
16000000

14000000

12000000

10000000

8000000

6000000

4000000

2000000

0
0

1 2 3 4 5 6
7 8 9 10 $ 15,000,000.00
 8. Determinar X en el siguiente diagrama de flujo de caja

Datos del credito

Valor Credito $ 13,534,551.37 Cuota 1 $ 952,380.95

Incremento mensual (G) 5.00% Nº. Meses 1 6
I E.A. 20.00% Cuota 2 $ 1,000,000.00
I Mes 1.53% Nº. Meses 2 8

Valor Presente
$ 8,888,849.81

Nº. Cuota Fecha Saldo anterior Cuota mes Cuota con interes Nuevo Saldo

0 3-oct-22 $ - $ - $ - $ -
1 3-nov-22 $ - $ 952,380.95 $ 938,020.36 $ 938,020.36
2 3-dic-22 $ 938,020.36 $ 952,380.95 $ 923,876.30 $ 1,861,896.65
3 3-ene-23 $ 1,861,896.65 $ 952,380.95 $ 909,945.51 $ 2,771,842.17
4 3-feb-23 $ 2,771,842.17 $ 952,380.95 $ 896,224.79 $ 3,668,066.95
5 3-mar-23 $ 3,668,066.95 $ 952,380.95 $ 882,710.95 $ 4,550,777.90
6 3-abr-23 $ 4,550,777.90 $ 952,380.95 $ 869,400.88 $ 5,420,178.79
7 3-may-23 $ 5,420,178.79 $ 1,000,000.00 $ 899,106.09 $ 6,319,284.88
8 3-jun-23 $ 6,319,284.88 $ 1,050,000.00 $ 929,826.25 $ 7,249,111.13
9 3-jul-23 $ 7,249,111.13 $ 1,102,500.00 $ 961,596.03 $ 8,210,707.16
10 3-ago-23 $ 8,210,707.16 $ 1,157,625.00 $ 994,451.31 $ 9,205,158.47
11 3-sep-23 $ 9,205,158.47 $ 1,215,506.25 $ 1,028,429.17 $ 10,233,587.65
12 3-oct-23 $ 10,233,587.65 $ 1,276,281.56 $ 1,063,567.97 $ 11,297,155.61
13 3-nov-23 $ 11,297,155.61 $ 1,340,095.64 $ 1,099,907.37 $ 12,397,062.98
14 3-dic-23 $ 12,397,062.98 $ 1,407,100.42 $ 1,137,488.39 $ 13,534,551.37
 Flujo de caja punto 8
14000000

12000000

10000000

8000000

6000000

4000000

2000000

0
Nº. Cuota

0 2 3 4 5
6 7 8 9 10
11 12 13 14 $ 13,534,551.37
9. Una empresa está analizando un proyecto de inversión que se caracteriza por:
* Desembolso inicial: $150.000.000,00
* Flujo de caja en el primer año: $37.500.000,00
* Para los siguientes años se espera que el flujo de caja cada año sea 12% superior al del año anterior.
* Duración: 6 años.
* Valor residual: $22.500.000,00.
* Tasa: 8% EA
a. Según el criterio del VPN, ¿es económicamente viable este proyecto? Justificar.
b. ¿Cuál debe ser el desembolso inicial para para que la rentabilidad sea del 50%?

Datos del credito

Datos punto A Datos punto A

Valor Credito A $ 150,000,000.00 Valor Credito B $ 152,401,940.70

Cuota $ 37,500,000.00 Cuota $ 37,500,000.00
Incremento anual (G) 12.00% Incremento mensual (G) 12.00%
I E.A. 8.00% I Mes 8.00%
Nº. Años 6 Nº. Meses 6

Valor Presente $ 228,602,910.99 Valor Presente $ 228,602,910.99

Utilidad ($) $ 78,602,910.99 Utilidad ($) $ 76,200,970.29
Utilidad (%) 52.40% Utilidad (%) 50.00%

Nº. Cuota Fecha Cuota Cuota con interes Nuevo Saldo Nº. Cuota Fecha Cuota

0 3-oct-22 $ - $ - $ - 0 3-oct-22 $ -
1 3-nov-22 $ 37,500,000.00 $ 34,722,222.22 $ 34,722,222.22 1 3-nov-22 $ 37,500,000.00
2 3-dic-22 $ 42,000,000.00 $ 36,008,230.45 $ 70,730,452.67 2 3-dic-22 $ 42,000,000.00
3 3-ene-23 $ 47,040,000.00 $ 37,341,868.62 $ 108,072,321.29 3 3-ene-23 $ 47,040,000.00
4 3-feb-23 $ 52,684,800.00 $ 38,724,900.79 $ 146,797,222.08 4 3-feb-23 $ 52,684,800.00
5 3-mar-23 $ 59,006,976.00 $ 40,159,156.37 $ 186,956,378.45 5 3-mar-23 $ 59,006,976.00
6 3-abr-23 $ 66,087,813.12 $ 41,646,532.54 $ 228,602,910.99 6 3-abr-23 $ 66,087,813.12
Cuota con interes Nuevo Saldo

$ - $ -
$ 34,722,222.22 $ 34,722,222.22
$ 36,008,230.45 $ 70,730,452.67
$ 37,341,868.62 $ 108,072,321.29
$ 38,724,900.79 $ 146,797,222.08
$ 40,159,156.37 $ 186,956,378.45
$ 41,646,532.54 $ 228,602,910.99
 Flujo de caja punto 9
$ 160,000,000.00

$ 140,000,000.00

$ 120,000,000.00

$ 100,000,000.00

$ 80,000,000.00

$ 60,000,000.00

$ 40,000,000.00

$ 20,000,000.00

$-
0 1 2 3 4 5 6

0 1 2 3 4 5 6
10. Una empresa está considerando la adquisición de una máquina, y tiene 4 ofertas. La información de cada una
de las ofertas se presenta en la siguiente tabla

Datos del credito

Datos Maquina 1 Valor Presente Neto (VPN)

Costo $ 25,000,000.00 Maquina 1 $ 45,808,838.07

Costo anual de operación $ 6,500,000.00 Maquina 2 $ 45,246,714.69
Valor de salvamento $ 1,200,000.00 Maquina 3 $ 45,281,557.36
I E.A. 24.00% Maquina 4 $ 46,552,182.74
Vida útil en años 7

Costo operación Valor Salvamento

Nº. Cuota Fecha Costo maquina Costo operación con interes Valor Salvamento con interes Nuevo Saldo

0 3-oct-22 $ - $ - $ - $ - $ - $ 25,000,000.00
1 3-nov-22 $ 25,000,000.00 $ 6,500,000.00 $ 5,241,935.48 $ 1,200,000.00 $ 967,741.94 $ 29,274,193.55
2 3-dic-22 $ 25,000,000.00 $ 6,500,000.00 $ 9,469,302.81 $ 1,200,000.00 $ 780,437.04 $ 33,688,865.76
3 3-ene-23 $ 25,000,000.00 $ 6,500,000.00 $ 12,878,470.01 $ 1,200,000.00 $ 629,384.71 $ 37,249,085.29
4 3-feb-23 $ 25,000,000.00 $ 6,500,000.00 $ 15,627,798.39 $ 1,200,000.00 $ 507,568.32 $ 40,120,230.08
5 3-mar-23 $ 25,000,000.00 $ 6,500,000.00 $ 17,844,998.70 $ 1,200,000.00 $ 409,329.29 $ 42,435,669.42
6 3-abr-23 $ 25,000,000.00 $ 6,500,000.00 $ 19,633,063.47 $ 1,200,000.00 $ 330,104.26 $ 44,302,959.21
7 3-may-23 $ 25,000,000.00 $ 6,500,000.00 $ 21,075,051.19 $ 1,200,000.00 $ 266,213.12 $ 45,808,838.07

Datos del credito

Datos Maquina 2
Costo $ 42,000,000.00
Costo anual de operación $ 1,200,000.00
Valor de salvamento $ 4,800,000.00
I E.A. 24.00%
Vida útil en años 8

Nº. Cuota Fecha Costo maquina Costo operación Costo operación Valor Salvamento Valor Salvamento Nuevo Saldo
con interes con interes
0 3-oct-22 $ - $ - $ - $ - $ - $ 42,000,000.00
1 3-nov-22 $ 42,000,000.00 $ 1,200,000.00 $ 967,741.94 $ 4,800,000.00 $ 3,870,967.74 $ 39,096,774.19
2 3-dic-22 $ 42,000,000.00 $ 1,200,000.00 $ 1,748,178.98 $ 4,800,000.00 $ 3,121,748.18 $ 40,626,430.80
3 3-ene-23 $ 42,000,000.00 $ 1,200,000.00 $ 2,377,563.69 $ 4,800,000.00 $ 2,517,538.85 $ 41,860,024.84
4 3-feb-23 $ 42,000,000.00 $ 1,200,000.00 $ 2,885,132.01 $ 4,800,000.00 $ 2,030,273.27 $ 42,854,858.74
5 3-mar-23 $ 42,000,000.00 $ 1,200,000.00 $ 3,294,461.30 $ 4,800,000.00 $ 1,637,317.15 $ 43,657,144.15
6 3-abr-23 $ 42,000,000.00 $ 1,200,000.00 $ 3,624,565.56 $ 4,800,000.00 $ 1,320,417.06 $ 44,304,148.51
7 3-may-23 $ 42,000,000.00 $ 1,200,000.00 $ 3,890,778.68 $ 4,800,000.00 $ 1,064,852.47 $ 44,825,926.21
8 3-jun-23 $ 42,000,000.00 $ 1,200,000.00 $ 4,105,466.68 $ 4,800,000.00 $ 858,751.99 $ 45,246,714.69

Datos del credito

Datos Maquina 3

Costo $ 45,000,000.00
Costo anual de operación $ 600,000.00
Valor de salvamento $ 7,500,000.00
I E.A. 24.00%
Vida útil en años 7
 Nº. Cuota Fecha Costo maquina
0 3-oct-22 $ -
1 3-nov-22 $ 45,000,000.00
2 3-dic-22 $ 45,000,000.00
3 3-ene-23 $ 45,000,000.00
4 3-feb-23 $ 45,000,000.00
5 3-mar-23 $ 45,000,000.00
6 3-abr-23 $ 45,000,000.00
7 3-may-23 $ 45,000,000.00
Costo operación Costo operación Valor Salvamento Valor Salvamento Nuevo Saldo
con interes con interes
$ - $ - $ - $ - $ 45,000,000.00
$ 600,000.00 $ 483,870.97 $ 7,500,000.00 $ 6,048,387.10 $ 39,435,483.87
$ 600,000.00 $ 874,089.49 $ 7,500,000.00 $ 4,877,731.53 $ 40,996,357.96
$ 600,000.00 $ 1,188,781.85 $ 7,500,000.00 $ 3,933,654.46 $ 42,255,127.39
$ 600,000.00 $ 1,442,566.01 $ 7,500,000.00 $ 3,172,301.98 $ 43,270,264.02
$ 600,000.00 $ 1,647,230.65 $ 7,500,000.00 $ 2,558,308.05 $ 44,088,922.60
$ 600,000.00 $ 1,812,282.78 $ 7,500,000.00 $ 2,063,151.65 $ 44,749,131.13
$ 600,000.00 $ 1,945,389.34 $ 7,500,000.00 $ 1,663,831.98 $ 45,281,557.36

Datos del credito

Datos Maquina 4

Costo $ 32,000,000.00
Costo anual de operación $ 5,000,000.00
Valor de salvamento $ 2,000,000.00
I E.A. 24.00%
Vida útil en años 6

Costo operación Valor Salvamento

Nº. Cuota Fecha Costo maquina Costo operación Valor Salvamento Nuevo Saldo
con interes con interes
0 3-oct-22 $ - $ - $ - $ - $ - $ 32,000,000.00
1 3-nov-22 $ 32,000,000.00 $ 5,000,000.00 $ 4,032,258.06 $ 2,000,000.00 $ 1,612,903.23 $ 34,419,354.84
2 3-dic-22 $ 32,000,000.00 $ 5,000,000.00 $ 7,284,079.08 $ 2,000,000.00 $ 1,300,728.41 $ 37,983,350.68
3 3-ene-23 $ 32,000,000.00 $ 5,000,000.00 $ 9,906,515.39 $ 2,000,000.00 $ 1,048,974.52 $ 40,857,540.87
4 3-feb-23 $ 32,000,000.00 $ 5,000,000.00 $ 12,021,383.38 $ 2,000,000.00 $ 845,947.20 $ 43,175,436.18
5 3-mar-23 $ 32,000,000.00 $ 5,000,000.00 $ 13,726,922.08 $ 2,000,000.00 $ 682,215.48 $ 45,044,706.60
6 3-abr-23 $ 32,000,000.00 $ 5,000,000.00 $ 15,102,356.52 $ 2,000,000.00 $ 550,173.77 $ 46,552,182.74
$ 47,000,000.00

$ 46,500,000.00

$ 46,000,000.00

$ 45,500,000.00

$ 45,000,000.00

$ 44,500,000.00
Maquina 1 Maquina 2 Maquina 3 Maquina 4
11. Una máquina tiene un precio de fábrica al contado de $60.000.000,00, sin embargo, se puede comprar a
crédito según las siguientes opciones:

Opción A Datos del crédito Opción B

COSTO DE LA MAQUINA $ 60,000,000.00 Valor prestamo $ 48,000,000.00 COSTO DE LA MAQUINA

CUOTA
20% $ 12,000,000.00 Valor Cuota $ 2,250,000.00 CUOTA INICIAL 30%
INICIAL
SALDO A SALDO A
80% $ 48,000,000.00 I Mes 0.965% 70%
FINANCIAR FINANCIAR
I E.A 0.96% Nº. Cuota 24 I E.A

Nº. Cuota Fecha Interes Cuota Abono a Capital Nuevo Saldo Nº. Cuota Fecha

0 3-oct-22 $ 48,000,000.00 0 3-oct-22

1 3-nov-22 $ 462,979.20 $ 2,250,000.00 $ 1,787,020.80 $ 46,212,979.20 1 3-nov-22
2 3-dic-22 $ 445,742.67 $ 2,250,000.00 $ 1,804,257.33 $ 44,408,721.87 2 3-dic-22
3 3-ene-23 $ 428,339.89 $ 2,250,000.00 $ 1,821,660.11 $ 42,587,061.76 3 3-ene-23
4 3-feb-23 $ 410,769.25 $ 2,250,000.00 $ 1,839,230.75 $ 40,747,831.00 4 3-feb-23
5 3-mar-23 $ 393,029.13 $ 2,250,000.00 $ 1,856,970.87 $ 38,890,860.13 5 3-mar-23
6 3-abr-23 $ 375,117.90 $ 2,250,000.00 $ 1,874,882.10 $ 37,015,978.03 6 3-abr-23
7 3-may-23 $ 357,033.91 $ 2,250,000.00 $ 1,892,966.09 $ 35,123,011.95 7 3-may-23
8 3-jun-23 $ 338,775.50 $ 2,250,000.00 $ 1,911,224.50 $ 33,211,787.45 8 3-jun-23
9 3-jul-23 $ 320,340.97 $ 2,250,000.00 $ 1,929,659.03 $ 31,282,128.42 9 3-jul-23
10 3-ago-23 $ 301,728.64 $ 2,250,000.00 $ 1,948,271.36 $ 29,333,857.06 10 3-ago-23
11 3-sep-23 $ 282,936.78 $ 2,250,000.00 $ 1,967,063.22 $ 27,366,793.85 11 3-sep-23
12 3-oct-23 $ 263,963.67 $ 2,250,000.00 $ 1,986,036.33 $ 25,380,757.52 12 3-oct-23
13 3-nov-23 $ 244,807.56 $ 2,250,000.00 $ 2,005,192.44 $ 23,375,565.08
14 3-dic-23 $ 225,466.68 $ 2,250,000.00 $ 2,024,533.32 $ 21,351,031.75
15 3-ene-24 $ 205,939.24 $ 2,250,000.00 $ 2,044,060.76 $ 19,306,971.00
16 3-feb-24 $ 186,223.46 $ 2,250,000.00 $ 2,063,776.54 $ 17,243,194.45
17 3-mar-24 $ 166,317.51 $ 2,250,000.00 $ 2,083,682.49 $ 15,159,511.96
18 3-abr-24 $ 146,219.56 $ 2,250,000.00 $ 2,103,780.44 $ 13,055,731.52
19 3-may-24 $ 125,927.75 $ 2,250,000.00 $ 2,124,072.25 $ 10,931,659.27
20 3-jun-24 $ 105,440.23 $ 2,250,000.00 $ 2,144,559.77 $ 8,787,099.50
21 3-jul-24 $ 84,755.09 $ 2,250,000.00 $ 2,165,244.91 $ 6,621,854.59
22 3-ago-24 $ 63,870.44 $ 2,250,000.00 $ 2,186,129.56 $ 4,435,725.02
23 3-sep-24 $ 42,784.34 $ 2,250,000.00 $ 2,207,215.66 $ 2,228,509.37
24 3-oct-24 $ 21,494.86 $ 2,250,000.00 $ 2,228,505.14 $ 4.23
Opción B Datos del crédito Opción B

$ 60,000,000.00 $ -23,254.74 Valor prestamo $ 42,000,000.00 COSTO DE LA MAQUINA $ 60,000,000.00 $ -92,404.40

CUOTA
$ 18,000,000.00 Valor Cuota $ 3,750,000.00 40% $ 24,000,000.00
INICIAL
SALDO A
$ 42,000,000.00 I Mes 1.070% 60% $ 36,000,000.00
FINANCIAR
1.07% Nº. Cuota 12 I E.A 1.25%

Interes Cuota Abono a Capital Nuevo Saldo Nº. Cuota Fecha Interes Cuota

$ 42,000,000.00 0 3-oct-22
$ 449,400.00 $ 3,750,000.00 $ 3,300,600.00 $ 38,699,400.00 1 3-nov-22 $ 450,000.00 $ 1,250,000.00
$ 414,083.58 $ 3,750,000.00 $ 3,335,916.42 $ 35,363,483.58 2 3-dic-22 $ 440,000.00 $ 1,250,000.00
$ 378,389.27 $ 3,750,000.00 $ 3,371,610.73 $ 31,991,872.85 3 3-ene-23 $ 429,875.00 $ 1,250,000.00
$ 342,313.04 $ 3,750,000.00 $ 3,407,686.96 $ 28,584,185.89 4 3-feb-23 $ 419,623.44 $ 1,250,000.00
$ 305,850.79 $ 3,750,000.00 $ 3,444,149.21 $ 25,140,036.68 5 3-mar-23 $ 409,243.73 $ 1,250,000.00
$ 268,998.39 $ 3,750,000.00 $ 3,481,001.61 $ 21,659,035.08 6 3-abr-23 $ 398,734.28 $ 1,250,000.00
$ 231,751.68 $ 3,750,000.00 $ 3,518,248.32 $ 18,140,786.75 7 3-may-23 $ 388,093.46 $ 1,250,000.00
$ 194,106.42 $ 3,750,000.00 $ 3,555,893.58 $ 14,584,893.17 8 3-jun-23 $ 377,319.62 $ 1,250,000.00
$ 156,058.36 $ 3,750,000.00 $ 3,593,941.64 $ 10,990,951.53 9 3-jul-23 $ 366,411.12 $ 1,250,000.00
$ 117,603.18 $ 3,750,000.00 $ 3,632,396.82 $ 7,358,554.71 10 3-ago-23 $ 355,366.26 $ 1,250,000.00
$ 78,736.54 $ 3,750,000.00 $ 3,671,263.46 $ 3,687,291.24 11 3-sep-23 $ 344,183.34 $ 1,250,000.00
$ 39,454.02 $ 3,750,000.00 $ 3,710,545.98 $ -23,254.74 12 3-oct-23 $ 332,860.63 $ 1,250,000.00
13 3-nov-23 $ 321,396.39 $ 1,250,000.00
14 3-dic-23 $ 309,788.84 $ 1,250,000.00
15 3-ene-24 $ 298,036.20 $ 1,250,000.00
16 3-feb-24 $ 286,136.65 $ 1,250,000.00
17 3-mar-24 $ 274,088.36 $ 1,250,000.00
18 3-abr-24 $ 261,889.47 $ 1,250,000.00
19 3-may-24 $ 249,538.08 $ 1,250,000.00
20 3-jun-24 $ 237,032.31 $ 1,250,000.00
21 3-jul-24 $ 224,370.21 $ 1,250,000.00
22 3-ago-24 $ 211,549.84 $ 1,250,000.00
23 3-sep-24 $ 198,569.22 $ 1,250,000.00
24 3-oct-24 $ 185,426.33 $ 1,250,000.00
25 3-nov-24 $ 172,119.16 $ 1,250,000.00
26 3-dic-24 $ 158,645.65 $ 1,250,000.00
27 3-ene-25 $ 145,003.72 $ 1,250,000.00
28 3-feb-25 $ 131,191.27 $ 1,250,000.00
29 3-mar-25 $ 117,206.16 $ 1,250,000.00
30 3-abr-25 $ 103,046.23 $ 1,250,000.00
31 3-may-25 $ 88,709.31 $ 1,250,000.00
32 3-jun-25 $ 74,193.18 $ 1,250,000.00
33 3-jul-25 $ 59,495.59 $ 1,250,000.00
34 3-ago-25 $ 44,614.29 $ 1,250,000.00
35 3-sep-25 $ 29,546.97 $ 1,250,000.00
36 3-oct-25 $ 14,291.30 $ 1,250,000.00
 Datos del crédito

Valor prestamo $ 36,000,000.00

Valor Cuota $ 1,250,000.00

I Mes 1.250%

Nº. Cuota 36

Abono a Capital Nuevo Saldo

$ 36,000,000.00
$ 800,000.00 $ 35,200,000.00
$ 810,000.00 $ 34,390,000.00
$ 820,125.00 $ 33,569,875.00
$ 830,376.56 $ 32,739,498.44
$ 840,756.27 $ 31,898,742.17
$ 851,265.72 $ 31,047,476.45
$ 861,906.54 $ 30,185,569.90
$ 872,680.38 $ 29,312,889.52
$ 883,588.88 $ 28,429,300.64
$ 894,633.74 $ 27,534,666.90
$ 905,816.66 $ 26,628,850.24
$ 917,139.37 $ 25,711,710.87
$ 928,603.61 $ 24,783,107.25
$ 940,211.16 $ 23,842,896.09
$ 951,963.80 $ 22,890,932.29
$ 963,863.35 $ 21,927,068.95
$ 975,911.64 $ 20,951,157.31
$ 988,110.53 $ 19,963,046.78
$ 1,000,461.92 $ 18,962,584.86
$ 1,012,967.69 $ 17,949,617.17
$ 1,025,629.79 $ 16,923,987.39
$ 1,038,450.16 $ 15,885,537.23
$ 1,051,430.78 $ 14,834,106.44
$ 1,064,573.67 $ 13,769,532.77
$ 1,077,880.84 $ 12,691,651.93
$ 1,091,354.35 $ 11,600,297.58
$ 1,104,996.28 $ 10,495,301.30
$ 1,118,808.73 $ 9,376,492.57
$ 1,132,793.84 $ 8,243,698.73
$ 1,146,953.77 $ 7,096,744.96
$ 1,161,290.69 $ 5,935,454.27
$ 1,175,806.82 $ 4,759,647.45
$ 1,190,504.41 $ 3,569,143.04
$ 1,205,385.71 $ 2,363,757.33
$ 1,220,453.03 $ 1,143,304.30
$ 1,235,708.70 $ -92,404.40