0 1 2 3

-200 -80 -70 120

TASA EA 15%
VPN -$ 6.18 VP= 322.50
TIRM 14.63% VF= 731.66
TIR 14.44%

PROYECTO A

80 70 60

120 40

0 1 2 3 4
-120 -40 80 70 60

TMR 1% EM
VPN $ 91.99
TIRM 10.63%
TIR 17.72%

PROYECTO A

80 150

350 50 30

0 1 2 3 4
-350 -50 -30 80 150

TMR 5% EM
VPN $ 168.03
TIRM 8.34%
TIR 10.43%
 -350 -47.62 -27.21 69.11 123.41
-$ 350.00 -$ 397.62 -$ 424.83 -$ 355.72 -$ 232.32

0 1 2 3 4
-100 -30 -20 120 250

TIR 32.09%
Tasa de financiamiento 17%
Tasa de reinversión 10%
TIRM 28.36%

SIN PROYECTO 1 2 3 4
600 600 600 600
PV $ 50,000 $ 50,000 $ 50,000 $ 50,000
Ingreso $ 30,000,000 $ 30,000,000 $ 30,000,000 $ 30,000,000
Costo U 27000 27000 27000 27000
Costo Total $ 16,200,000 $ 16,200,000 $ 16,200,000 $ 16,200,000
Utilidad $ 13,800,000 $ 13,800,000 $ 13,800,000 $ 13,800,000

CON PROYECTO 1 2 3 4
660 660 660 660
PV $ 50,000 $ 50,000 $ 50,000 $ 50,000
Ingreso $ 33,000,000 $ 33,000,000 $ 33,000,000 $ 33,000,000
Costo U 26000 26000 26000 26000
Costo Total $ 17,160,000 $ 17,160,000 $ 17,160,000 $ 17,160,000
Utilidad $ 15,840,000 $ 15,840,000 $ 15,840,000 $ 15,840,000

-$ 2,040,000 -$ 2,040,000 -$ 2,040,000 -$ 2,040,000

 4 5 6
140 160 180

50

5
50

70 90 160 150 180

40

5 6 7 8 9 10
-40 70 90 160 150 180
 -31.34 52.24 63.96 108.29 96.69 110.50
-$ 263.66 -$ 211.42 -$ 147.46 -$ 39.17 $ 57.52 $ 168.03

5 6 7 8 9 10 11
600 600 600 600 600 600 600
$ 50,000 $ 50,000 $ 50,000 $ 50,000 $ 50,000 $ 50,000 $ 50,000
$ 30,000,000 $ 30,000,000 $ 30,000,000 $ 30,000,000 $ 30,000,000 $ 30,000,000 $ 30,000,000
27000 27000 27000 27000 27000 27000 27000
$ 16,200,000 $ 16,200,000 $ 16,200,000 $ 16,200,000 $ 16,200,000 $ 16,200,000 $ 16,200,000
$ 13,800,000 $ 13,800,000 $ 13,800,000 $ 13,800,000 $ 13,800,000 $ 13,800,000 $ 13,800,000

5 6 7 8 9 10 11
660 660 660 660 660 660 660
$ 50,000 $ 50,000 $ 50,000 $ 50,000 $ 50,000 $ 50,000 $ 50,000
$ 33,000,000 $ 33,000,000 $ 33,000,000 $ 33,000,000 $ 33,000,000 $ 33,000,000 $ 33,000,000
26000 26000 26000 26000 26000 26000 26000
$ 17,160,000 $ 17,160,000 $ 17,160,000 $ 17,160,000 $ 17,160,000 $ 17,160,000 $ 17,160,000
$ 15,840,000 $ 15,840,000 $ 15,840,000 $ 15,840,000 $ 15,840,000 $ 15,840,000 $ 15,840,000

-$ 2,040,000 -$ 2,040,000 -$ 2,040,000 -$ 2,040,000 -$ 2,040,000 -$ 2,040,000 -$ 2,040,000

PROYECTO B

5 4 6 9

15 0

0 1 2 3 4 5
-15 0 5 4 6 9

TMR 1% EM
VPN $ 8.11
TIRM 10.12%
TIR 13.52%
 0

12 13 14 15 16 17 18
600 600 600 600 600 600 600
$ 50,000 $ 50,000 $ 50,000 $ 50,000 $ 50,000 $ 50,000 $ 50,000
$ 30,000,000 $ 30,000,000 $ 30,000,000 $ 30,000,000 $ 30,000,000 $ 30,000,000 $ 30,000,000
27000 27000 27000 27000 27000 27000 27000
$ 16,200,000 $ 16,200,000 $ 16,200,000 $ 16,200,000 $ 16,200,000 $ 16,200,000 $ 16,200,000
$ 13,800,000 $ 13,800,000 $ 13,800,000 $ 13,800,000 $ 13,800,000 $ 13,800,000 $ 13,800,000

12 13 14 15 16 17 18
660 660 660 660 660 660 660
$ 50,000 $ 50,000 $ 50,000 $ 50,000 $ 50,000 $ 50,000 $ 50,000
$ 33,000,000 $ 33,000,000 $ 33,000,000 $ 33,000,000 $ 33,000,000 $ 33,000,000 $ 33,000,000
26000 26000 26000 26000 26000 26000 26000
$ 17,160,000 $ 17,160,000 $ 17,160,000 $ 17,160,000 $ 17,160,000 $ 17,160,000 $ 17,160,000
$ 15,840,000 $ 15,840,000 $ 15,840,000 $ 15,840,000 $ 15,840,000 $ 15,840,000 $ 15,840,000

-$ 2,040,000 -$ 2,040,000 -$ 2,040,000 -$ 2,040,000 -$ 2,040,000 -$ 2,040,000 -$ 2,040,000

 19 20 21 22 23 24 25
600 600 600 600 600 600 600
$ 50,000 $ 50,000 $ 50,000 $ 50,000 $ 50,000 $ 50,000 $ 50,000
$ 30,000,000 $ 30,000,000 $ 30,000,000 $ 30,000,000 $ 30,000,000 $ 30,000,000 $ 30,000,000
27000 27000 27000 27000 27000 27000 27000
$ 16,200,000 $ 16,200,000 $ 16,200,000 $ 16,200,000 $ 16,200,000 $ 16,200,000 $ 16,200,000
$ 13,800,000 $ 13,800,000 $ 13,800,000 $ 13,800,000 $ 13,800,000 $ 13,800,000 $ 13,800,000

19 20 21 22 23 24 25
660 660 660 660 660 660 660
$ 50,000 $ 50,000 $ 50,000 $ 50,000 $ 50,000 $ 50,000 $ 50,000
$ 33,000,000 $ 33,000,000 $ 33,000,000 $ 33,000,000 $ 33,000,000 $ 33,000,000 $ 33,000,000
26000 26000 26000 26000 26000 26000 26000
$ 17,160,000 $ 17,160,000 $ 17,160,000 $ 17,160,000 $ 17,160,000 $ 17,160,000 $ 17,160,000
$ 15,840,000 $ 15,840,000 $ 15,840,000 $ 15,840,000 $ 15,840,000 $ 15,840,000 $ 15,840,000

-$ 2,040,000 -$ 2,040,000 -$ 2,040,000 -$ 2,040,000 -$ 2,040,000 -$ 2,040,000 -$ 2,040,000

 26 27 28 29 30 31 32
600 600 600 600 600 600 600
$ 50,000 $ 50,000 $ 50,000 $ 50,000 $ 50,000 $ 50,000 $ 50,000
$ 30,000,000 $ 30,000,000 $ 30,000,000 $ 30,000,000 $ 30,000,000 $ 30,000,000 $ 30,000,000
27000 27000 27000 27000 27000 27000 27000
$ 16,200,000 $ 16,200,000 $ 16,200,000 $ 16,200,000 $ 16,200,000 $ 16,200,000 $ 16,200,000
$ 13,800,000 $ 13,800,000 $ 13,800,000 $ 13,800,000 $ 13,800,000 $ 13,800,000 $ 13,800,000

26 27 28 29 30 31 32
660 660 660 660 660 660 660
$ 50,000 $ 50,000 $ 50,000 $ 50,000 $ 50,000 $ 50,000 $ 50,000
$ 33,000,000 $ 33,000,000 $ 33,000,000 $ 33,000,000 $ 33,000,000 $ 33,000,000 $ 33,000,000
26000 26000 26000 26000 26000 26000 26000
$ 17,160,000 $ 17,160,000 $ 17,160,000 $ 17,160,000 $ 17,160,000 $ 17,160,000 $ 17,160,000
$ 15,840,000 $ 15,840,000 $ 15,840,000 $ 15,840,000 $ 15,840,000 $ 15,840,000 $ 15,840,000

-$ 2,040,000 -$ 2,040,000 -$ 2,040,000 -$ 2,040,000 -$ 2,040,000 -$ 2,040,000 -$ 2,040,000

 33 34 35 36
600 600 600 600
$ 50,000 $ 50,000 $ 50,000 $ 50,000
$ 30,000,000 $ 30,000,000 $ 30,000,000 $ 30,000,000
27000 27000 27000 27000
$ 16,200,000 $ 16,200,000 $ 16,200,000 $ 16,200,000
$ 13,800,000 $ 13,800,000 $ 13,800,000 $ 13,800,000

33 34 35 36
660 660 660 660
$ 50,000 $ 50,000 $ 50,000 $ 50,000
$ 33,000,000 $ 33,000,000 $ 33,000,000 $ 33,000,000
26000 26000 26000 26000
$ 17,160,000 $ 17,160,000 $ 17,160,000 $ 17,160,000
$ 15,840,000 $ 15,840,000 $ 15,840,000 $ 15,840,000

-$ 2,040,000 -$ 2,040,000 -$ 2,040,000 -$ 2,040,000