1 r 0 1 2 3 4

A 5% - 50 100 125 150

B 15% - 30 - 30 45
C 10% - 50 75 125 150
D 10% - 150 125 75 50
E 18% - 1,750 50 200 500 1,000
F 35% - 1,500 500 1,200 - 750 1,000

2 r 0 1 2 3 4
A 5% - 50 100 125 150
B 15% - 30 - 30 45
C 10% - 50 75 125 150
D 10% - 150 125 75 50
E 18% - 1,750 50 200 500 1,000
F 35% - 1,500 500 1,200 - 750 1,000
G 37% 1,500 - 1,200 400 - 1,300 400
H 15% - 1,500 300 500 800 1,000
I 30% - 1,500 300 500 800 1,000

3 0 1 2 3 4
A 10% 10% 10% 10%
B 15% 15% 20% 20%
C 25% 20% 15% 10%
D 12% 25% 16% 20%
E 13% 40% 15% 15%
F 40% 40% 40% 40%

4 0 1 2 3 4
Tasa 15% 15% 15% 15%
Flujo 2,500 2,500 2,500 2,500
 0 1 2 3 4
$0.00 $57.88 $110.25 $131.25 $150.00 $449.38
$0.00 $45.63 $0.00 $34.50 $45.00 $125.13
$0.00 $66.55 $90.75 $137.50 $150.00 $444.80
$0.00 $199.65 $151.25 $82.50 $50.00 $483.40
-$3,392.86 $82.15 $278.48 $590.00 $1,000.00 -$1,442.23
-$4,982.26 $1,230.19 $2,187.00 -$1,012.50 $1,000.00 -$1,577.57

0 1 2 3 4
$0.00 $47.62 $90.70 $107.98 $123.41 369.71
$0.00 $26.09 $0.00 $19.73 $25.73 71.54
$0.00 $45.45 $61.98 $93.91 $102.45 303.80
$0.00 $136.36 $103.31 $56.35 $34.15 330.17
-$1,750.00 $42.37 $143.64 $304.32 $515.79 - 743.89
-$1,500.00 $370.37 $658.44 -$304.83 $301.07 - 474.96
$1,500.00 -$875.91 $213.12 -$505.57 $113.55 445.18
-$1,500.00 $260.87 $378.07 $526.01 $571.75 236.71
-$1,500.00 $230.77 $295.86 $364.13 $350.13 - 259.11

0 1 2 3 4
0.91 0.83 0.75 0.68
0.87 0.76 0.58 0.48
0.80 0.69 0.66 0.68
0.89 0.64 0.64 0.48
0.88 0.51 0.66 0.57
0.71 0.51 0.36 0.26

a) 0 1 2 3 4

$3,802 $3,306 $2,875 $2,500 $12,483

 SIN PROYECTO CON PROYECTO COSTOS

CONSULTAS 1,000 - - 1,000

HOSPITAL 1,000 1,000 -
RENTA 500 3,000 - 2,500
AGUA LUZ GAS 150 180 - 30
ALIMENTOS 1,200 1,800 - 600
ENTRETENIMIENTO 30 500 - 470
GASOLINA 120 400 - 280
EMPLEADOS 350 500 - 150
CLUB 200 200 -
SEGUROS 150 150 -
CUIDADOR - 160 - 160
INT + DEPREC 180 180 -

- 5,190
COSTO DE OPORTUNIDAD

COSTOS INCREMENTALES

COSTOS HUNDIDOS
 Estudios y proyectos $175,000 Mensual Mensual
Terreno 10,000 Renta 1250
Obra civil 2,500,000 Administración 8000
Equipamiento 250,000 Empl. limpieza 750
Subtotal 2,935,000 Art. Limpieza 1500
Imprevistos (10%) 293,500
Total $3,228,500 Servicios 6250 125

Locales 20 35 40 40
0 1 2 3 4
- Inversión - 2,925,000
+ Ingresos 300,000 525,000 600,000 600,000
- Costos - 57,000 - 79,500 - 87,000 - 87,000
- Depreciación - 137,500 - 137,500 - 137,500 - 137,500
- Intereses
= Utilidad Bruta 105,500 308,000 375,500 375,500
- Impuestos - - - -
= Utilidad Neta 105,500 308,000 375,500 375,500
+ Financiamiento
- Amortización
+ Depreciación 137,500 137,500 137,500 137,500
- Costo de oportunidad - 350,000
+ Valor de Rescate
= Flujo Neto de Efectivo - 3,275,000 243,000 445,500 513,000 513,000

VPN 791,219
TIR 13.17%
Anual
Impuestos 0%
Tasa de descuento 10%
9000
18000

40 40 40 40 40 40
5 6 7 8 9 10

600,000 600,000 600,000 600,000 600,000 600,000

- 87,000 - 87,000 - 87,000 - 87,000 - 87,000 - 87,000
- 137,500 - 137,500 - 137,500 - 137,500 - 137,500 - 137,500

375,500 375,500 375,500 375,500 375,500 375,500

- - - - - -
375,500 375,500 375,500 375,500 375,500 375,500

137,500 137,500 137,500 137,500 137,500 137,500

513,000 513,000 513,000 513,000 513,000 513,000

 40 40 40 40 40 40 40 40
11 12 13 14 15 16 17 18

600,000 600,000 600,000 600,000 600,000 600,000 600,000 600,000

- 87,000 - 87,000 - 87,000 - 87,000 - 87,000 - 87,000 - 87,000 - 87,000
- 137,500 - 137,500 - 137,500 - 137,500 - 137,500 - 137,500 - 137,500 - 137,500

375,500 375,500 375,500 375,500 375,500 375,500 375,500 375,500

- - - - - - - -
375,500 375,500 375,500 375,500 375,500 375,500 375,500 375,500

137,500 137,500 137,500 137,500 137,500 137,500 137,500 137,500

513,000 513,000 513,000 513,000 513,000 513,000 513,000 513,000

 40 40
19 20

600,000 600,000
- 87,000 - 87,000
- 137,500 - 137,500

375,500 375,500
- -
375,500 375,500

137,500 137,500

513,000 513,000
5 0 1 2 3 4 5
A - 1,000,000 100,000 100,000 100,000 100,000 1,100,000
B - 1,000,000 263,797 263,797 263,797 263,797 263,797
C - 1,000,000 0 0 0 0 1,610,510

6 0 1 2 3 4 5
A - 1,000,000 100,000 100,000 100,000 100,000 1,100,000
B - 1,000,000 263,797 263,797 263,797 263,797 263,797
C - 1,000,000 0 0 0 0 1,610,510

7 0 1 2 3 4 5
A - 1,000,000 100,000 100,000 100,000 100,000 1,100,000
B - 1,000,000 263,797 263,797 263,797 263,797 263,797
C - 1,000,000 0 0 0 0 1,610,510

8 Periodo Flujo de Efectivo TIR

0 - 9,120 25%
1 1,000
2 5,000
3 10,000

9 0 1 2 3 TIR VPN@10%
A - 1,000 505 505 505 24% 255.86
B - 10,000 2,000 2,000 12,000 20% 2,486.85
C - 11,000 5,304 5,304 5,304 21% 2,190.26

10 0 1 2 VPN@15% TIR
A - 1,000 - 1,322.50 - 15%
B - 1,000 615.11 615.11 - 0.01 15%
C - 1,000 1,150.00 - - 15%

11 0 1 2 VPN@5% TIR
A - 1,000 - 1,322.50 199.55 15%
B - 1,000 615.11 615.11 143.74 15%
C - 1,000 1,150.00 - 95.24 15%

12 0 1 2 VPN@5%
A - 18,954 10,000 10,000 - 359.90
B - 18,140 - 20,000 0.59
C - 19,080 20,000 - - 32.38

13 0 1 2 VPN@10%
A - 10,000 2,000 12,000 1,735.54
B - 10,000 10,500 - - 454.55 VPN
C 10,000 - 12,000 - - 909.09

14 0 1 2 TIR VPN@10%
A - 16,500 10,000 10,000 14% 855.37
B - 100,000 60,000 60,000 13% 4,132.23
TIR
15 0 1 2 TIR VPN@5% VPN@10%
A - 10,000 - 12,100 10% 975.06 -
B - 10,000 5,762 5,762 10% 713.92 0.17

16 0 1 VPN@10%
A - 20,000 30,000 7,272.73
B - 100,000 130,000 18,181.82
VPN @ 10% TIR
$ - 10%
-$ 1.82 10%
$ - 10%

1 2 3 4 5
$ 100,000 $ 200,000 $ 300,000 $ 400,000 $ 1,500,000 4,166.7
$ 263,797 $ 527,594 $ 791,391 $ 1,055,188 $ 1,318,985 2,931.1
$ - $ - $ - $ - $ 1,610,510 4,473.6

VPN @ 5%
$ 216,473.83
$ 142,102.96
$ 261,876.73

TREMA TASA DE RENDOIMIENTO MINIMO ACEOPTABLE

0.08 0.34 0.0272

0.15 0.33 0.0495
0.1 0.33 0.033
11%
Tir 9

0 1 2 VPN a) 0 1
- 18,954 9,524 8,658 - 772.18 - 18,954 9,524
- 18,140 - 17,316 - 823.98 - 18,140 -
- 19,080 19,048 - - 32.38 - 19,080 19,048

>=0 SI ES RENTABLE
<0 NO ES RENTABLE

>=TD SI ES RENTABLE

<TD NO ES RENTABLE
 MESES DIAS AÑO/MES/DIA
500,000.0 120 4.000 0 5.4.0
55,188.0 18.828568937 0.628 18.829 4.0.19
610,510.0 136.4683237 4.549 16.468 5.4.17

CEOPTABLE

2 VPN b)
9,337 - 93.12
18,674 534.14
- - 32.38