10.

0000

9.0000

y = e0.215111379616945x
R = 0.999999999999996

8.0000

7.0000

6.0000

Series1

5.0000

Expon. (Series1)

4.0000

3.0000

2.0000

1.0000

0.0000
0

10

12

0.4500

0.4000

0.3500

0.3000

0.2500
Series1

Expon. (Series1)

0.2000

0.1500

y = e-0.2151113796169450x
R = 0.9999999999999960

0.1000

0.0500

0.0000
0

10

12

S=4%

8,300,000

2,700,000

G= 850,000

26,000,000

VPN=8'3(P/T,4%,24%,4)+(12'8(P/T,6%,24%,6)(P/F,24%,4)+4'5(P/F,24%,10) - 26' - (2'7+

INVERSIN

$ 26,000,000.00

i=

INGRESOS 1 AO

s=

TASA ESCALONADA
INGRESOS 5 AO

8,300,000.00
4%

n=

$ 12,800,000.00

TASA ESCALONADA

6%

(P/T, s, i, n) =

VALOR DE SALVAMENTO

4,500,000.00

EGRESO 1 AO

2,700,000.00

i=

GASTOS DEL AO 2 AL 6

850,000.00

s=

GASTOS DEL AO 6 AL 10

6,950,000.00

n=

TMAR

24.0%
(P/T, s, i, n) =

AO

INGRESOS

EGRESOS

FLUJO NETO

$ 26,000,000.00 $ (26,000,000.00)

8,300,000

2,700,000

5,600,000

8,632,000

3,550,000

5,082,000

8,977,280

4,400,000

4,577,280

9,336,371

5,250,000

4,086,371

12,800,000

6,100,000

6,700,000

13,568,000

6,950,000

6,618,000

14,382,080

6,950,000

7,432,080

15,245,005

6,950,000

8,295,005

16,159,705

6,950,000

9,209,705

10

21,629,287

6,950,000

14,679,287

CHEQUEO

39,829,753

43,603,804 $

(3,774,052)

VPNI

VPNE

VPN

n=
i=
(F/P,i,n) =
(P/F,i,n) =
(F/A,i,n) =
(A/F,i,n) =
(A/P,i,n) =
(P/A,i,n) =
(A/G,i,n) =

4
24.00%

5
24.00%

6
24.00%

5
24.00%

2.3642

2.9316

3.6352

2.9316

0.4230

0.3411

0.2751

0.3411

5.6842

8.0484

10.9801

8.0484

0.1759

0.1242

0.0911

0.1242

0.4159

0.3642

0.3311

0.3642

2.4043

2.7454

3.0205

2.7454

1.2346

1.5782

1.8898

1.5782

i=
n=

24.00%
(F/P,i,n) =

(P/F,i,n) =

1
2
3
4
5
6
7
8
9
10

1.2200
1.4884
1.8158
2.2153
2.7027
3.2973
4.0227
4.9077
5.9874
7.3046

0.8197
0.6719
0.5507
0.4514
0.3700
0.3033
0.2486
0.2038
0.1670
0.1369

11
12
13
14
15
16
17

8.9117
10.8722
13.2641
16.1822
19.7423
24.0856
29.3844

0.1122
0.0920
0.0754
0.0618
0.0507
0.0415
0.0340

S=6%

12,800,000

10

+4'5(P/F,24%,10) - 26' - (2'7+0'85(A/G,24%,6))(P/A,24%,6)-6'95(P/A,24%,4)(P/F,24%,6)

24.00%
4.00%
4

8,300,000.0

P=

20,965,000

2.52590358

24.00%
6.00%
6

T
P=

12,800,000.0
43,362,417

3.38768885
VPNI=

39,829,753

VPNE=

(43,603,804)

VPN

(3,774,052)

10
24.00%

5
24.00%

8.5944

2.9316

0.1164

0.3411

31.6434

8.0484

0.0316

0.1242

0.2716

0.3642

3.6819

2.7454

2.8499

1.5782

P/F,24%,6)

4,500,000