REBECA REYES | THAIS SANTA CRUZ MAX CASTRO MAVROS <mcastrom@unis.edu.

gt>
PREGUNTA 1
Ejecución en los próximos 2 años crecimiento de doble dígito
Fondos $ 5000000
Bonos nominal $1000 pago semestral tasa anual del 10% vencimiento a 10
pago semestral a 5%
A) Tabla de flujos de efectivo
Valor nominal $ 1000
Tasa de interes semestral 5%
Monto a financiar $ 5000000 250000
Cantidad de bonos 5000
Meses 120
Pago

COMPRADOR 0
Año Mes Pago Intereses
0 - -
6 - 250000
1
12 - 250000
18 - 250000
2
24 - 250000
30 - 250000
3
36 - 250000
42 - 250000
4
48 - 250000
54 - 250000
5
60 - 250000
66 - 250000
6
72 - 250000
78 - 250000
7
84 - 250000
90 - 250000
8
96 - 250000
102 - 250000
9
108 - 250000
114 - 250000
10
120 $ 5000000 250000

B) A que precio deberia comprar un inversionista para un rendimiento de 11% anual

PRECIO X INTERES = 5,000,000

PRECIO X INTERES = 5,000,000

5,000,000 * 10% = 5,000,000

4545454.545 909.0909091

PREGUNTA 2
Valor nominal $36,000.00
Enganche 30% $25,200.00 $10,800.00
Monto a financiar $25,200.00
Tiempo 36
tasa de interes mensual 1% $252.00
Intereses a 36 meses $9,072.00

MONTO TOTAL $34,272.00

Cuota $952.00

TIE Mensual 0.43 43.08%

TIE Anual 0.40 40.49%

PREGUNTA 3
Capital $1,000,000.00
Opcion 1
Interes 10%
Tiempo 5 años

ANUAL Capital Intereses Final

0 $1,000,000.00 - 0
1 - -
2 - -
3 - -
4 - -
5 - $100,000.00 $1,100,000.00

Opcion 2
Inversión 1000000%
Tiempo 5

ANUAL Capital
 0 -$800,000.00
1 -$200,000.00
2 $200,000.00
3 $450,000.00
4 $450,000.00
5 $300,000.00 $1,400,000

La opción que escogemos nosotros es la opcion 2 pues es hasta un 40% de oportunidad de inversión
Tiene a favor que los flujos son más agradables al contador y se recibe dinero de regreso a partir del año 2
en el año 3 ya tenemos la mitad de la inversion y en el año 4 la inversion completa
Sin embargo, el riesgo es mucho más alto.

En esta opcion al recibir el dinero desde el año 2, nos permite poder re invertir.

PREGUNTA 4
Valor nominal $300,000
Tasa de interes anual sobre saldos 9%
Tiempo 36
Pago extraordinador $50,000 mes 18
Cuota mensual $8,333
ESCENARIO 1.1
MESES Capital Intereses Abono a capital
0 $300,000.00
1 $291,666.67 $2,250.00 $8,333.33
2 $283,333.33 $2,250.00 $8,333.33
3 $275,000.00 $2,250.00 $8,333.33
4 $266,666.67 $2,250.00 $8,333.33
5 $258,333.33 $2,250.00 $8,333.33
6 $250,000.00 $2,250.00 $8,333.33
7 $241,666.67 $2,250.00 $8,333.33
8 $233,333.33 $2,250.00 $8,333.33
9 $225,000.00 $2,250.00 $8,333.33
10 $216,666.67 $2,250.00 $8,333.33
11 $208,333.33 $2,250.00 $8,333.33
12 $200,000.00 $2,250.00 $8,333.33
13 $191,666.67 $1,437.50 $8,333.33
14 $183,333.33 $1,437.50 $8,333.33
15 $175,000.00 $1,437.50 $8,333.33
16 $166,666.67 $1,437.50 $8,333.33
17 $158,333.33 $1,437.50 $8,333.33
18 $150,000.00 $1,437.50 $8,333.33
 19 $141,666.67 $1,437.50 $8,333.33
20 $133,333.33 $1,437.50 $8,333.33
21 $125,000.00 $1,437.50 $8,333.33
22 $116,666.67 $1,437.50 $8,333.33
23 $108,333.33 $1,437.50 $8,333.33
24 $100,000.00 $1,437.50 $8,333.33
25 $91,666.67 $687.50 $8,333.33
26 $83,333.33 $687.50 $8,333.33
27 $75,000.00 $687.50 $8,333.33
28 $66,666.67 $687.50 $8,333.33
29 $58,333.33 $687.50 $8,333.33
30 $50,000.00 $687.50 $8,333.33
31 $41,666.67 $687.50 $8,333.33
32 $33,333.33 $687.50 $8,333.33
33 $25,000.00 $687.50 $8,333.33
34 $16,666.67 $687.50 $8,333.33
35 $8,333.33 $687.50 $8,333.33
36 $0.00 $687.50 $8,333.33

PREGUNTA 5
Tiempo 15 años VF=
Valor anual $120,000 $3,000,000
Crecimiento anual 4% I PV =
Retorno anual 10%
PREGUNTA 6

Inversion 1 $3,000,000
Inversion 2 $500,000
Tiempo depreciacion 5
Precio de venta $1,500,000
inversion 3 $100,000
Ventas año 1 $2,200,000
Ventas año 2 $2,600,000 $260,000 $286,000
Margen de contribucion 40%
Salario anual 50000 2500 2625
Ajuste salarial 5%
Clientes actuales 10%
Resto de portafolio MC 30%
Salario anual 2 250000 12500 13125
Prospeccion ventas 40%

WACC .=(1-TASA DE IMPUESTO) X (INTERES PROMEDIO DE LA DEUDA

Costo 50% fondos propio 12%
50% deuda bancaria 8% anual
ISR 25%

A) Tasa de descuento
0 1 2
Inversion 3000000 500000 100000
Ventas 2200000 2600000
Salario mercadeo 50000 52500
Salario gerentes de P&P 250000 262500
 <mcastrom@unis.edu.gt>

al del 10% vencimiento a 10 años

Saldo $ 5000000
$ 5000000
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-

ual
tunidad de inversión
so a partir del año 2

ESCENARIO 1.2
Mensualidad MESES Capital Intereses Abono a capital Mensualidad
0
$10,583.33 1 $300,000.00 $2,250.00 $8,333.33 $10,583.33
$10,583.33 2 $291,666.67 $2,250.00 $8,333.33 $10,583.33
$10,583.33 3 $283,333.33 $2,250.00 $8,333.33 $10,583.33
$10,583.33 4 $275,000.00 $2,250.00 $8,333.33 $10,583.33
$10,583.33 5 $266,666.67 $2,250.00 $8,333.33 $10,583.33
$10,583.33 6 $258,333.33 $2,250.00 $8,333.33 $10,583.33
$10,583.33 7 $250,000.00 $2,250.00 $8,333.33 $10,583.33
$10,583.33 8 $241,666.67 $2,250.00 $8,333.33 $10,583.33
$10,583.33 9 $233,333.33 $2,250.00 $8,333.33 $10,583.33
$10,583.33 10 $225,000.00 $2,250.00 $8,333.33 $10,583.33
$10,583.33 11 $216,666.67 $2,250.00 $8,333.33 $10,583.33
$10,583.33 12 $208,333.33 $2,250.00 $8,333.33 $10,583.33
$9,770.83 13 $200,000.00 $1,437.50 $8,333.33 $9,770.83
$9,770.83 14 $191,666.67 $1,437.50 $8,333.33 $9,770.83
$9,770.83 15 $183,333.33 $1,437.50 $8,333.33 $9,770.83
$9,770.83 16 $175,000.00 $1,437.50 $8,333.33 $9,770.83
$9,770.83 17 $166,666.67 $1,437.50 $8,333.33 $9,770.83
$9,770.83 18 $158,333.33 $1,437.50 $58,333.33 $59,770.83
 $9,770.83 19 $100,000.00 $1,437.50 $8,333.33 $9,770.83
$9,770.83 20 $91,666.67 $1,437.50 $8,333.33 $9,770.83
$9,770.83 21 $83,333.33 $1,437.50 $8,333.33 $9,770.83
$9,770.83 22 $75,000.00 $1,437.50 $8,333.33 $9,770.83
$9,770.83 23 $66,666.67 $1,437.50 $8,333.33 $9,770.83
$9,770.83 24 $58,333.33 $1,437.50 $8,333.33 $9,770.83
$9,020.83 25 $50,000.00 $312.50 $8,333.33 $8,645.83
$9,020.83 26 $41,666.67 $312.50 $8,333.33 $8,645.83
$9,020.83 27 $33,333.33 $312.50 $8,333.33 $8,645.83
$9,020.83 28 $25,000.00 $312.50 $8,333.33 $8,645.83
$9,020.83 29 $16,666.67 $312.50 $8,333.33 $8,645.83
$9,020.83 30 $8,333.33 $312.50 $8,333.33 $8,645.83
$9,020.83 $0.00
$9,020.83
$9,020.83
$9,020.83
$9,020.83
$9,020.83
$352,500.00 $346,125.00
$6,375.00

R:// Termina en el mes 30 pagando, en el último pago realiza $8,645.83

C / (R - G) M=
$718,176
 $314,600

2756.25 2894.0625 3038.765625

13781.25 14470.3125

PROMEDIO DE LA DEUDA) X DEUDA / (DEUDA + EQUITY)) +( COSTO PROMEDIO DEL EQUITY) X ( EQUITY /(DEUDA +

3 4 5 6 7 8 9

$2,860,000 $3,146,000 $3,460,600

55125 57881.25 60775.3125
275625 289406.25 303876.5625
ESCENARIO 2
MESES Capital Intereses Abono a capital Mensualidad
0
1 $300,000.00 $2,250.00 $8,333.33 $10,583.33
2 $291,666.67 $2,250.00 $8,333.33 $10,583.33
3 $283,333.33 $2,250.00 $8,333.33 $10,583.33
4 $275,000.00 $2,250.00 $8,333.33 $10,583.33
5 $266,666.67 $2,250.00 $8,333.33 $10,583.33
6 $258,333.33 $2,250.00 $8,333.33 $10,583.33
7 $250,000.00 $2,250.00 $8,333.33 $10,583.33
8 $241,666.67 $2,250.00 $8,333.33 $10,583.33
9 $233,333.33 $2,250.00 $8,333.33 $10,583.33
10 $225,000.00 $2,250.00 $8,333.33 $10,583.33
11 $216,666.67 $2,250.00 $8,333.33 $10,583.33
12 $208,333.33 $2,250.00 $8,333.33 $10,583.33
13 $200,000.00 $1,437.50 $8,333.33 $9,770.83
14 $191,666.67 $1,437.50 $8,333.33 $9,770.83
15 $183,333.33 $1,437.50 $8,333.33 $9,770.83
16 $175,000.00 $1,437.50 $8,333.33 $9,770.83
17 $166,666.67 $1,437.50 $8,333.33 $9,770.83
18 $158,333.33 $1,437.50 $58,333.33 $59,770.83
 19 $100,000.00 $1,437.50 $5,555.56 $6,993.06
20 $94,444.44 $1,437.50 $5,555.56 $6,993.06
21 $88,888.89 $1,437.50 $5,555.56 $6,993.06
22 $83,333.33 $1,437.50 $5,555.56 $6,993.06
23 $77,777.78 $1,437.50 $5,555.56 $6,993.06
24 $72,222.22 $1,437.50 $5,555.56 $6,993.06
25 $66,666.67 $500.00 $5,555.56 $6,055.56
26 $61,111.11 $500.00 $5,555.56 $6,055.56
27 $55,555.56 $500.00 $5,555.56 $6,055.56
28 $50,000.00 $500.00 $5,555.56 $6,055.56
29 $44,444.44 $500.00 $5,555.56 $6,055.56
30 $38,888.89 $500.00 $5,555.56 $6,055.56
31 $33,333.33 $500.00 $5,555.56 $6,055.56
32 $27,777.78 $500.00 $5,555.56 $6,055.56
33 $22,222.22 $500.00 $5,555.56 $6,055.56
34 $16,666.67 $500.00 $5,555.56 $6,055.56
35 $11,111.11 $500.00 $5,555.56 $6,055.56
36 $5,555.56 $500.00 $5,555.56 $6,055.56
$0.00 $350,250

-$4,125.00
mo pago realiza $8,645.83 R:// Del mes 18 al 24 paga $6903.06 y del 25 al 36 paga $6,055.56
) X ( EQUITY /(DEUDA + EQUITY)

10