EJERCICIO 1

Tasa intena de retorno 0 1

Valor presente neto de algo sea 0 -Q 2,500.00 -Q 200.00
No requiere de tasa
Flujo
Cuando la tir es superior a la tasa de rendimiento
Tasa de crecimiento compuesta
Tasa cruzada valor presente neto de dos empresas es el mismo
Gana quien tenga vpn mayor
EJERCICIO 2
0 1 2
-Q 10,000.00 Q 1,000.00 Q 2,000.00

EJERCICIO 3
0 1 2
-Q 500,000.00 Q 80,270.00 Q 160,540.00

Proyecto a
-Q 3,000.00 Q 1,500.00 Q 1,200.00
Proyecto b
-Q 3,000.00 Q 400.00 Q 900.00
 2 3 4 5 Datos
Q 250.00 Q 1,000.00 Q 1,750.00 Q 1,000.00 Tir
Inversión inicial
TIR

Pasos
Lineal
Poner la inversión

3 4 5 6 7 8
Q 3,000.00 Q 4,000.00 Q 5,000.00 Q 6,000.00 Q 7,000.00 Q 8,000.00

3 4
Q 321,080.00 Q 642,160.00 Tir 32.36%

Tir 1% 2%
Q 800.00 Q 300.00 13.11% Q726.27 Q655.00

Q 1,300.00 Q 1,500.00 11.38% Q981.54 Q868.00

1% 2%
Proyecto a Q 726.27 Q 655.00
Proyecto b Q 981.54 Q 868.00

Gráfica
Q1,200.00
Q1,000.00
Q800.00
Q600.00
Q400.00
Q200.00
Q-
1% 2% 3% 4% 5% 6% 7% 8% 9% 10 11 12 13 14 15 16 17 18 19 2
-Q200.00
% % % % % % % % % % %
-Q400.00
-Q600.00
-Q800.00

Proyecto a Proyecto b
 11%
Q 2,500.00
11%

9 10 Tir 32.36%
Q 9,000.00 Q 10,000.00

3% 4% 5% 6% 7% 8% 9%
Q586.09 Q519.41 Q454.89 Q392.41 Q331.90 Q273.27 Q216.44

Q759.10 Q654.62 Q554.32 Q458.00 Q365.46 Q276.50 Q190.96

3% 4% 5% 6% 7% 8% 9%
Q 586.09 Q 519.41 Q 454.89 Q 392.41 Q 331.90 Q 273.27 Q 216.44
Q 759.10 Q 654.62 Q 554.32 Q 458.00 Q 365.46 Q 276.50 Q 190.96

áfica

9% 10 11 12 13 14 15 16 17 18 19 20
% % % % % % % % % % %

Proyecto b
 10% 11% 12% 13% 14% 15% 16% 17%
Q161.33 Q107.87 Q56.00 Q5.65 -Q43.25 -Q90.74 -Q136.89 -Q181.74

Q108.67 Q29.47 -Q46.79 -Q120.24 -Q191.02 -Q259.24 -Q325.03 -Q388.50

10% 11% 12% 13% 14% 15% 16% 17%

Q 161.33 Q 107.87 Q 56.00 Q 5.65 -Q 43.25 -Q 90.74 -Q 136.89 -Q 181.74
Q 108.67 Q 29.47 -Q 46.79 -Q 120.24 -Q 191.02 -Q 259.24 -Q 325.03 -Q 388.50
 18% 19% 20%
-Q225.35 -Q267.76 -Q309.03

-Q449.75 -Q508.87 -Q565.97

18% 19% 20%

-Q 225.35 -Q 267.76 -Q 309.03
-Q 449.75 -Q 508.87 -Q 565.97
Datos
Plazo 5
Tasa de crecimiento de ventas 10%
Margen Neto de Utilidad 10%
Tasa de crecimiento de ventas Q 250,000.00
Ventas del año pasado Q 150,000.00

ERR Proyectado
0
Ventas
Margen Neto

Flujo -Q 150,000.00
TIR 3.64%

Analisis de sensibilidad de tasa de crecimiento de ventas

Ventas
Tasa de crecimientos de ventas 1
-10.0% Q 225,000.00
-7.5% Q 231,250.00
-5.0% Q 237,500.00
-2.5% Q 243,750.00
0.0% Q 250,000.00
2.5% Q 256,250.00
5.0% Q 262,500.00
7.5% Q 268,750.00
10.0% Q 275,000.00
12.5% Q 281,250.00
15.0% Q 287,500.00
17.5% Q 293,750.00
20.0% Q 300,000.00

Margen Neto/ Ventas Inversión

0% -Q 150,000.00
2% -Q 150,000.00
4% -Q 150,000.00
6% -Q 150,000.00
8% -Q 150,000.00
10% -Q 150,000.00
12% -Q 150,000.00
14% -Q 150,000.00
16% -Q 150,000.00
18% -Q 150,000.00
20% -Q 150,000.00
 años

1 2 3 4 5
Q 275,000.00 Q 302,500.00 Q 332,750.00 Q 366,025.00 Q 402,627.50
Q 27,500.00 Q 30,250.00 Q 33,275.00 Q 36,602.50 Q 40,262.75

Q 27,500.00 Q 30,250.00 Q 33,275.00 Q 36,602.50 Q 40,262.75

sa de crecimiento de ventas

2 3 4 5 INVERSION
Q 202,500.00 Q 182,250.00 Q 164,025.00 Q 147,622.50 -Q 150,000.00
Q 213,906.25 Q 197,863.28 Q 183,023.54 Q 169,296.77 -Q 150,000.00
Q 225,625.00 Q 214,343.75 Q 203,626.56 Q 193,445.23 -Q 150,000.00
Q 237,656.25 Q 231,714.84 Q 225,921.97 Q 220,273.92 -Q 150,000.00
Q 250,000.00 Q 250,000.00 Q 250,000.00 Q 250,000.00 -Q 150,000.00
Q 262,656.25 Q 269,222.66 Q 275,953.22 Q 282,852.05 -Q 150,000.00
Q 275,625.00 Q 289,406.25 Q 303,876.56 Q 319,070.39 -Q 150,000.00
Q 288,906.25 Q 310,574.22 Q 333,867.29 Q 358,907.33 -Q 150,000.00
Q 302,500.00 Q 332,750.00 Q 366,025.00 Q 402,627.50 -Q 150,000.00
Q 316,406.25 Q 355,957.03 Q 400,451.66 Q 450,508.12 -Q 150,000.00
Q 330,625.00 Q 380,218.75 Q 437,251.56 Q 502,839.30 -Q 150,000.00
Q 345,156.25 Q 405,558.59 Q 476,531.35 Q 559,924.33 -Q 150,000.00
Q 360,000.00 Q 432,000.00 Q 518,400.00 Q 622,080.00 -Q 150,000.00

1 2 3 4 5
Q - Q - Q - Q - Q -
Q 5,500.00 Q 6,050.00 Q 6,655.00 Q 7,320.50 Q 8,052.55
Q 11,000.00 Q 12,100.00 Q 13,310.00 Q 14,641.00 Q 16,105.10
Q 16,500.00 Q 18,150.00 Q 19,965.00 Q 21,961.50 Q 24,157.65
Q 22,000.00 Q 24,200.00 Q 26,620.00 Q 29,282.00 Q 32,210.20
Q 27,500.00 Q 30,250.00 Q 33,275.00 Q 36,602.50 Q 40,262.75
Q 33,000.00 Q 36,300.00 Q 39,930.00 Q 43,923.00 Q 48,315.30
Q 38,500.00 Q 42,350.00 Q 46,585.00 Q 51,243.50 Q 56,367.85
Q 44,000.00 Q 48,400.00 Q 53,240.00 Q 58,564.00 Q 64,420.40
Q 49,500.00 Q 54,450.00 Q 59,895.00 Q 65,884.50 Q 72,472.95
Q 55,000.00 Q 60,500.00 Q 66,550.00 Q 73,205.00 Q 80,525.50
 Margen neto
1 2 3 4 5 Tir
Q 22,500.00 Q 20,250.00 Q 18,225.00 Q 16,402.50 Q 14,762.25 -15%
Q 23,125.00 Q 21,390.63 Q 19,786.33 Q 18,302.35 Q 16,929.68 -13%
Q 23,750.00 Q 22,562.50 Q 21,434.38 Q 20,362.66 Q 19,344.52 -10%
Q 24,375.00 Q 23,765.63 Q 23,171.48 Q 22,592.20 Q 22,027.39 -8%
Q 25,000.00 Q 25,000.00 Q 25,000.00 Q 25,000.00 Q 25,000.00 -6%
Q 25,625.00 Q 26,265.62 Q 26,922.27 Q 27,595.32 Q 28,285.21 -3%
Q 26,250.00 Q 27,562.50 Q 28,940.63 Q 30,387.66 Q 31,907.04 -1%
Q 26,875.00 Q 28,890.63 Q 31,057.42 Q 33,386.73 Q 35,890.73 1%
Q 27,500.00 Q 30,250.00 Q 33,275.00 Q 36,602.50 Q 40,262.75 4%
Q 28,125.00 Q 31,640.63 Q 35,595.70 Q 40,045.17 Q 45,050.81 6%
Q 28,750.00 Q 33,062.50 Q 38,021.87 Q 43,725.16 Q 50,283.93 8%
Q 29,375.00 Q 34,515.63 Q 40,555.86 Q 47,653.13 Q 55,992.43 11%
Q 30,000.00 Q 36,000.00 Q 43,200.00 Q 51,840.00 Q 62,208.00 13%

Tir
Err:523 Curva de Sensibilidad de TIR
-34% 40%
-21% 30%
-11% 20%
-3% 10%
TIR

0%
4% -15.0% -10.0% -5.0% -10%
0.0% 5.0% 10.0% 15.0% 20.0% 25.0%
-20%
-30%
-40%
 30%
20%
10%

TIR
0%
-15.0% -10.0% -5.0% -10%
0.0% 5.0% 10.0% 15.0% 20.0% 25.0%
10% -20%
16% -30%
21% -40%
27% Axis Title
32%
Column X Column S
El margen Neto es la variable más crítica, porque tiene mayor retorno