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CENTRUM

Matemticas Financieras
Profesor: Alfredo Vento Ortiz

SISTEMAS DE AMORTIZACIN

Principal 12,000 Transformar la tasa efectiva


Plazo (meses) 6
Tasa (TEA) 15% TEM 1.1715%
Modalidad Sist. Francs (Cuotas constantes)

Mes Saldo Inters Amortizacin Cuota


0 12,000.00 -12,000.00
1 12,000.00 140.58 1,942.22 2,082.80
2 10,057.78 117.83 1,964.97 2,082.80
3 8,092.80 94.81 1,987.99 2,082.80
4 6,104.81 71.52 2,011.28 2,082.80
5 4,093.53 47.96 2,034.84 2,082.80
6 2,058.68 24.12 2,058.68 2,082.80
S/. 496.80 S/. 12,000.00 1.1715%
15.00%

Principal 12,000 Calcular la cuota con la funcin PAGO


Plazo (meses) 6
Tasa (TEA) 15% TEM 1.1715%
Modalidad Sist. Francs

Mes Saldo Inters Amortizacin Cuota


0 12,000
1 12,000 2,082.80
2
3
4
5
6
Principal 12,000 Copiar el valor de la cuota en celda siguiente
Plazo (meses) 6
Tasa (TEA) 0.15 TEM 1.1715%
Modalidad Sist. Francs

Mes Saldo Inters Amortizacin Cuota


0 12,000
1 12,000 2,082.80
2 2,082.80
3
4
5
6

Principal 12,000 Jalar formula en casilleros siguientes


Plazo (meses) 6
Tasa (TEA) 15% TEM 1.1715%
Modalidad Sist. Francs

Mes Saldo Inters Amortizacin Cuota


0 12,000
1 12,000 2,082.80
2 2,082.80
3 2,082.80
4 2,082.80
5 2,082.80
6 2,082.80

Principal 12,000 Calcular el inters del mes 1


Plazo (meses) 6
Tasa (TEA) 15% TEM 1.1715%
Modalidad Sist. Francs

Mes Saldo Inters Amortizacin Cuota


0 12000
1 12000 140.58 2,082.80
2 2,082.80
3 2,082.80
4 2,082.80
5 2,082.80
6 2,082.80

Principal 12,000 Calcular la amortizacin del mes 1


Plazo (meses) 6
Tasa (TEA) 15% TEM 1.1715%
Modalidad Sist. Francs

Mes Saldo Inters Amortizacin Cuota


0 12000
1 12000 140.58 1,942.22 2,082.80
2 2,082.80
3 2,082.80
4 2,082.80
5 2,082.80
6 2,082.80

Principal 12,000 Calcular el saldo del mes 2


Plazo (meses) 6
Tasa (TEA) 15% TEM 1.1715%
Modalidad Sist. Francs

Mes Saldo Inters Amortizacin Cuota


0 12000
1 12000 140.58 1942.22 2,082.80
2 10057.78 2,082.80
3 2,082.80
4 2,082.80
5 2,082.80
6 2,082.80
Principal 12,000 Jalar las formulas
Plazo (meses) 6
Tasa (TEA) 15% TEM 1.1715%
Modalidad Sist. Francs

Mes Saldo Inters Amortizacin Cuota


0 12000
1 12000 140.58 1942.22 2,082.80
2 10057.78 117.83 1964.97 2,082.80
3 8092.80 94.81 1987.99 2,082.80
4 6104.81 71.52 2011.28 2,082.80
5 4093.53 47.96 2034.84 2,082.80
6 2058.68 24.12 2058.68 2,082.80
12000.00

EVALUACIN DEL CREDITO PARA UNA EMPRESA

Principal 12,000 Calcular Escudo Fiscal o Ahorro Tributario (AT): 28% de Gastos
Plazo (meses) 6
Tasa (TEA) 15% TEM 1.1715%
Modalidad Sist. Francs
Tasa impositiva 28%

Mes Saldo Inters Amortizacin Cuota


0 12,000.00
1 12,000.00 140.58 1,942.22 2,082.80
2 10,057.78 117.83 1,964.97 2,082.80
3 8,092.80 94.81 1,987.99 2,082.80
4 6,104.81 71.52 2,011.28 2,082.80
5 4,093.53 47.96 2,034.84 2,082.80
6 2,058.68 24.12 2,058.68 2,082.80
12000.00

Principal 12,000 Calcular costo anual (TCEA) d.i.


Plazo (meses) 6
Tasa (TEA) 15% TEM 1.1715%
Modalidad Sist. Francs
Tasa impositiva 28%

Mes Saldo Inters Amortizacin Cuota


0 12,000.00
1 12,000.00 140.58 1,942.22 2,082.80
2 10,057.78 117.83 1,964.97 2,082.80
3 8,092.80 94.81 1,987.99 2,082.80
4 6,104.81 71.52 2,011.28 2,082.80
5 4,093.53 47.96 2,034.84 2,082.80
6 2,058.68 24.12 2,058.68 2,082.80
12000.00
ibutario (AT): 28% de Gastos

AT

39.36
32.99
26.55
20.02
13.43
6.75
AT FCN d.i. factor de capitalizacin neta despues de impuestos.
12,000.00
39.36 -2,043.44
32.99 -2,049.81
26.55 -2,056.25
20.02 -2,062.78
13.43 -2,069.37
6.75 -2,076.05
TCEM d.i. 0.8435%
TCEA d.i. 10.6047%
CENTRUM
Matemticas Financieras
Profesor: Alfredo Vento Ortiz

SISTEMAS DE AMORTIZACIN

Principal 12,000
Plazo (meses) 6
TEA 15% TEM 1.1715% Cuota 2,082.80
Modalidad Sist. Francs

Saldo inicio del


Mes mes Inters Amortizacin Cuota
0 12000
1 12000 140.58 1942.22 2,082.80
2 10057.78 117.83 1964.97 2,082.80
3 8092.80 94.81 1987.99 2,082.80
4 6104.81 71.52 2011.28 2,082.80
5 4093.53 47.96 2034.84 2,082.80
6 2058.68 24.12 2058.68 2,082.80
12000.00

Problema: Si la tasa cambia a 20% TEA a partir del mes 3, determine el importe de la nueva cuota

Solucuin

Ello significa que a partir del mes 3 habr una nueva cuota, sta la calculamos con el saldo al comenzar el mes 3 que es
8092,80 y la nueva TEM, utilizamos la funcin Pago para el recalculo de la cuota

Principal 12,000
Plazo (meses) 6
TEA 20% TEM 1.5309% Cuota 2,101.22
Modalidad Sist. Francs

Mes Saldo Inters Amortizacin Cuota


0 12000 -12000
1 12000 140.58 1942.22 2,082.80
2 10057.78 117.83 1964.97 2,082.80
3 8092.80 123.90 1977.33 2,101.22
4 6115.48 93.62 2007.60 2,101.22
5 4107.88 62.89 2038.34 2,101.22
6 2069.54 31.68 2069.54 2,101.22
12000.00 1.3411%
17.3349%
Principal 12,000
Plazo (meses) 6
Nueva TEA 20% NUEVA TEM 1.5309% NUEVA CUOTA 2,101.22
Modalidad Sist. Francs

Mes Saldo Inters Amortizacin Cuota


0 12000
1 12000 140.58 1942.22 2,082.80
2 10057.78 117.83 1964.97 2,082.80
3 8092.80 2,101.22
4
5
6

Principal 12,000
Plazo (meses) 6
Nueva TEA 20% NUEVA TEM 1.5309% NUEVA CUOTA 2,101.22
Modalidad Sist. Francs

Mes Saldo Inters Amortizacin Cuota


0 12000
1 12000 140.58 1942.22 2,082.80
2 10057.78 117.83 1964.97 2,082.80
3 8092.80 2,101.22
4 2,101.22
5
6

Principal 12,000
Plazo (meses) 6
Nueva TEA 20% NUEVA TEM 1.5309% NUEVA CUOTA 2,101.22
Modalidad Sist. Francs

Mes Saldo Inters Amortizacin Cuota


0 12000
1 12000 140.58 1942.22 2,082.80
2 10057.78 117.83 1964.97 2,082.80
3 8092.80 2,101.22
4 2,101.22
5 2,101.22
6 2,101.22
Principal 12,000
Plazo (meses) 6
Nueva TEA 20% NUEVA TEM 1.5309% NUEVA CUOTA 2,101.22
Modalidad Sist. Francs

Mes Saldo Inters Amortizacin Cuota


0 12000
1 12000 140.58 1942.22 2,082.80
2 10057.78 117.83 1964.97 2,082.80
3 8092.80 123.90 2,101.22
4 2,101.22
5 2,101.22
6 2,101.22

Principal 12,000
Plazo (meses) 6
Nueva TEA 20% NUEVA TEM 1.5309% NUEVA CUOTA 2,101.22
Modalidad Sist. Francs

Mes Saldo Inters Amortizacin Cuota


0 12000
1 12000 140.58 1942.22 2,082.80
2 10057.78 117.83 1964.97 2,082.80
3 8092.80 123.90 2,101.22
4 2,101.22
5 2,101.22
6 2,101.22

Principal 12,000
Plazo (meses) 6
Nueva TEA 20% NUEVA TEM 1.5309% NUEVA CUOTA 2,101.22
Modalidad Sist. Francs

Mes Saldo Inters Amortizacin Cuota


0 12000
1 12000 140.58 1942.22 2,082.80
2 10057.78 117.83 1964.97 2,082.80
3 8092.80 123.90 1977.33 2,101.22
4 6115.48 93.62 2007.60 2,101.22
5 4107.88 62.89 2038.34 2,101.22
6 2069.54 31.68 2069.54 2,101.22
12000.00

Principal 12,000
Plazo (meses) 6
Nueva TEA 20% NUEVA TEM 1.5309% NUEVA CUOTA 2,101.22
Modalidad Sist. Francs

Mes Saldo Inters Amortizacin Cuota


0 12000
1 12000 140.58 1942.22 2,082.80
2 10057.78 117.83 1964.97 2,082.80
3 8092.80 123.90 1977.33 2,101.22
4 6115.48 93.62 2007.60 2,101.22
5 4107.88 62.89 2038.34 2,101.22
6 2069.54 31.68 2069.54 2,101.22
12000.00 TCC a.i. (TEM)
TCC a.i. (TEA)
nueva cuota

o al comenzar el mes 3 que es

Considerar como un nuevo prstamo de aqu en adelante


FCN
12000
-2,082.80
-2,082.80
-2,101.22
-2,101.22
-2,101.22
-2,101.22
1.3411%
17.3349%
CENTRUM
Matemticas Financieras
Profesor: Mag. Alfredo Vento Ortiz

SISTEMAS DE AMORTIZACIN

Principal 12,000
Plazo (meses) 6
Per. de gracia 2
Tasa (TEA) 15% TEM 1.1715%
Modalidad Sist. Francs VF (120000) S/. 12,282.80

Lo primero es llenar de "CEROS" las filas correspondientes a desembolsos en los perodos de gracia.

Mes Saldo Inters Amortizacin Cuota


0 12,000.00 -12,000.00
1 12,000.00 0.00 0.00 0.00
2 0.00 0.00 0.00
3 12,282.80 143.89 1,987.99 2,131.89
4 10,294.81 120.60 2,011.28 2,131.89
5 8,283.53 97.04 2,034.84 2,131.89
6 6,248.68 73.20 2,058.68 2,131.89
7 4,190.00 49.09 2,082.80 2,131.89
8 2,107.20 24.69 2,107.20 2,131.89
12,282.80 1.1715%
15.000%

Principal 12,000
Plazo (meses) 6
Per. de gracia 2
Tasa (TEA) 15% TEM 1.1715% VF (Princ.) 12,282.80
Modalidad Sist. Francs

Mes Saldo Inters Amortizacin Cuota


0 12,000.00
1 12,000.00 0.00 0.00 0.00
2 12,140.58 0.00 0.00 0.00
3 12,282.80
4
5
6
7
8
Principal 12,000
Plazo (meses) 6
Per. de gracia 2
Tasa (TEA) 15% TEM 1.1715% VF (Princ.) 12,282.80
Modalidad Sist. Francs

Mes Saldo Inters Amortizacin Cuota


0 12,000.00
1 12,000.00 0.00 0.00 0.00
2 12,140.58 0.00 0.00 0.00
3 12,282.80 2,131.89
4
5
6
7
8

Principal 12,000
Plazo (meses) 6
Per. de gracia 2
Tasa (TEA) 15% TEM 1.1715% VF (Princ.) 12,282.80
Modalidad Sist. Francs

Mes Saldo Inters Amortizacin Cuota


0 12,000.00
1 12,000.00 0.00 0.00 0.00
2 12,140.58 0.00 0.00 0.00
3 12,282.80 2131.89
4 2131.89
5 2131.89
6 2131.89
7 2131.89
8 2131.89
Principal 12,000
Plazo (meses) 6
Per. de gracia 2
Tasa (TEA) 15% TEM 1.1715% VF (Princ.) 12,282.80
Modalidad Sist. Francs

Mes Saldo Inters Amortizacin Cuota


0 12,000.00
1 12,000.00 0.00 0.00 0.00
2 12,140.58 0.00 0.00 0.00
3 12,282.80 143.89 2,131.89
4 2,131.89
5 2,131.89
6 2,131.89
7 2,131.89
8 2,131.89

Principal 12,000
Plazo (meses) 6
Per. de gracia 2
Tasa (TEA) 15% TEM 1.1715% VF (Princ.) 12,282.80
Modalidad Sist. Francs

Mes Saldo Inters Amortizacin Cuota


0 12,000.00 0.00
1 12,000.00 0.00 0.00 0.00
2 12,140.58 0.00 0.00 0.00
3 12,282.80 143.89 1,987.99 2,131.89
4 2,131.89
5 2,131.89
6 2,131.89
7 2,131.89
8 2,131.89
Principal 12,000
Plazo (meses) 6
Per. de gracia 2
Tasa (TEA) 15% TEM 1.1715% VF (Princ.) 12,282.80
Modalidad Sist. Francs

Mes Saldo Inters Amortizacin Cuota


0 12,000.00 0.00 0.00 0.00
1 12,000.00 0.00 0.00 0.00
2 12,140.58 0.00 0.00 0.00
3 12,282.80 143.89 1,987.99 2,131.89
4 10,294.81 2,131.89
5 2,131.89
6 2,131.89
7 2,131.89
8 2,131.89

Principal 12,000
Plazo (meses) 6
Per. de gracia 2
Tasa (TEA) 15% TEM 1.1715% VF (Princ.) 12,282.80
Modalidad Sist. Francs

Mes Saldo Inters Amortizacin Cuota FCN a.i.


0 12,000.00 0.00 0.00 0.00 12,000.00
1 12,000.00 0.00 0.00 0.00 0.00
2 12,140.58 0.00 0.00 0.00 0.00
3 12,282.80 143.89 1,987.99 2,131.89 -2,131.89
4 10,294.81 120.60 2,011.28 2,131.89 -2,131.89
5 8,283.53 97.04 2,034.84 2,131.89 -2,131.89
6 6,248.68 73.20 2,058.68 2,131.89 -2,131.89
7 4,190.00 49.09 2,082.80 2,131.89 -2,131.89
8 2,107.20 24.69 2,107.20 2,131.89 -2,131.89
12,282.80 TCEM a.i. 1.1715%
TCEA a.i. 15.00%

Principal 12,000
Plazo (meses) 6
Per. de gracia 2
Tasa (TEA) 15% TEM 1.1715% VF (Princ.) 12,282.80
Modalidad Sist. Francs
Tasa impositiva 30%
Mes Saldo Inters Amortizacin Cuota AT
0 12,000.00 0.00 0.00 0.00
1 12,000.00 0.00 0.00 0.00 42.17
2 12,140.58 0.00 0.00 0.00 42.67
3 12,282.80 143.89 1,987.99 2,131.89 43.17
4 10,294.81 120.60 2,011.28 2,131.89 36.18
5 8,283.53 97.04 2,034.84 2,131.89 29.11
6 6,248.68 73.20 2,058.68 2,131.89 21.96
7 4,190.00 49.09 2,082.80 2,131.89 14.73
8 2,107.20 24.69 2,107.20 2,131.89 7.41
12,282.80 TCEM d.i.
TCEA d.i.
los perodos de gracia.
FCN
12,000.00
42.17
42.67
-2,088.72
-2,095.70
-2,102.77
-2,109.92
-2,117.16
-2,124.48
0.8200%
10.2967%
CENTRUM
Matemticas Financieras
Profesor: Alfredo Vento Ortiz

SISTEMAS DE AMORTIZACIN

Principal 12,000
Plazo (meses) 6
TEA 15% TEM 1.1715% Cuota 2,082.80
Modalidad Sist. Francs

Mes Saldo Inters Amortizacin Cuota


0 12000
1 12000 140.58 1942.22 2,082.80
2 10057.78 117.83 1964.97 2,082.80
3 8092.80 94.81 1987.99 2,082.80
4 6104.81 71.52 2011.28 2,082.80
5 4093.53 47.96 2034.84 2,082.80
6 2058.68 24.12 2058.68 2,082.80

Problema: Si junto con el pago 2 se hace un prepago de 5000 con la finalidad de disminuir el
importe del resto de las cuotas, calcule el importe de estas ltimas

Adicionamos el prepago a la cuota 2 (sumamos)

Principal 12,000
Plazo (meses) 6
TEA 15% TEM 1.1715% Cuota 2,082.80
Modalidad Sist. Francs

Mes Saldo Inters Amortizacin Cuota


0 12000 -12000
1 12000 140.58 1942.22 2,082.80
2 10057.78 117.83 6964.97 7,082.80
3 3092.80 36.23 759.75 795.98
4 2333.06 27.33 768.65 795.98
5 1564.41 18.33 777.65 795.98
6 786.76 9.22 786.76 795.98
12000.00 1.1715%

Identificamos el saldo inmediatamente despus de haber realizado el prepago:

Principal 12,000
Plazo (meses) 6
TEA 15% TEM 1.1715% Cuota 2,082.80
Modalidad Sist. Francs

Mes Saldo Inters Amortizacin Cuota


0 12000 -12000
1 12000 140.58 1942.22 2,082.80
2 10057.78 117.83 6964.97 7,082.80
3 3092.80 36.23 2046.57 2,082.80
4 1046.24 12.26 1046.24 1,058.49
12000.00 1.1715%

Principal 12,000
Plazo (meses) 6
TEA 15% TEM 1.1715% Cuota 2,082.80
Modalidad Sist. Francs Nueva cuota 795.98

Mes Saldo Inters Amortizacin Cuota


0 12000
1 12000 140.58 1942.22 2,082.80
2 10057.78 117.83 6964.97 7,082.80
3 3092.80452 795.98
4
5
6

Principal 12,000
Plazo (meses) 6
TEA 15% TEM 1.1715% Cuota 2,082.80
Modalidad Sist. Francs

Mes Saldo Inters Amortizacin Cuota


0 12000
1 12000 140.58 1942.22 2,082.80
2 10057.78 117.83 6964.97 7,082.80
3 3092.80 795.98
4 795.98
5 795.98
6 795.98

Principal 12,000
Plazo (meses) 6
TEA 15% TEM 1.1715% Cuota 2,082.80
Modalidad Sist. Francs

Mes Saldo Inters Amortizacin Cuota FCN


0 12000 12000
1 12000 140.58 1942.22 2,082.80 -2,082.80
2 10057.78 117.83 6964.97 7,082.80 -7,082.80
3 3092.80452 36.23 759.75 795.98 -795.98
4 2333.05851 27.33 768.65 795.98 -795.98
5 1564.41213 18.33 777.65 795.98 -795.98
6 786.761123 9.22 786.76 795.98 -795.98
TIR MENS 1.1715%
TIR ANUAL 15.00%

Principal 12,000
Plazo (meses) 6
TEA 15% TEM 1.1715% Cuota 2,082.80
Modalidad Sist. Francs

Mes Saldo Inters Amortizacin Cuota


0 12000
1 12000 140.58 1942.22 2,082.80
2 10057.78 117.83 1964.97 2,082.80
3 8092.80 94.81 1987.99 2,082.80
4 6104.81 71.52 2011.28 2,082.80
5 4093.53 47.96 2034.84 2,082.80
6 2058.68 24.12 2058.68 2,082.80

Problema: Si junto con el pago 2 se hace un prepago de 5000 con la finalidad de disminuir el plazo,
determine en cuntos meses ms se cancelar el prstamo y el importe de la ltima cuota

Adicionamos el prepago a la cuota 2:

Principal 12,000
Plazo (meses) 6
TEA 15% TEM 1.1715% Cuota 2,082.80
Modalidad Sist. Francs

Mes Saldo Inters Amortizacin Cuota


0 12000
1 12000 140.58 1942.22 2,082.80
2 10057.78 117.83 6964.97 7,082.80
3 3092.80 36.23 7046.57 7,082.80
4 -3953.76 -46.32 7129.12 7,082.80
5 -11082.88 -129.84 7212.64 7,082.80
6 -18295.52 -214.33 7297.13 7,082.80

Correjimos el importe de la cuota 3 (copiar la cuota simple)

Principal 12,000
Plazo (meses) 6
TEA 15% TEM 1.1715% Cuota 2,082.80
Modalidad Sist. Francs

Mes Saldo Inters Amortizacin Cuota


0 12000
1 12000 140.58 1942.22 2,082.80
2 10057.78 117.83 6964.97 7,082.80
3 3092.80 36.23 2046.57 2,082.80
4 1046.24 12.26 2070.54 2,082.80
5 -1024.31 -12.00 2094.80 2,082.80
6 -3119.11 -36.54 2119.34 2,082.80
Observamos que el saldo al comenzar el mes 5 ES NEGATIVO, lo cual significa que con el pago del mes
4, la deuda queda cancelada en EXCESO. Por lo que correjimos el cuadro

Principal 12,000
Plazo (meses) 6
TEA 15% TEM 1.1715% Cuota 2,082.80
Modalidad Sist. Francs

Mes Saldo Inters Amortizacin Cuota


0 12000
1 12000 140.58 1942.22 2,082.80
2 10057.78 117.83 6964.97 7,082.80
3 3092.80 36.23 2046.57 2,082.80
4 1046.24 12.26 2070.54 2,082.80

Luego debemos cuadrar las cifras para que salde la deuda

Principal 12,000
Plazo (meses) 6
TEA 15% TEM 1.1715% Cuota 2,082.80
Modalidad Sist. Francs

Mes Saldo Inters Amortizacin Cuota


0 12000
1 12000 140.58 1942.22 2,082.80
2 10057.78 117.83 6964.97 7,082.80
3 3092.80 36.23 2046.57 2,082.80
4 1046.24 12.26 1046.24 1,058.49
12000.00
CENTRUM
Matemticas Financieras
Profesor: Alfredo Vento Ortiz

SISTEMAS DE AMORTIZACIN

Principal 12,000
Plazo (meses) 6
TEA 15% TEM 1.2215% Cuota
Modalidad Sist. Francs
COM. TIPO SPREAD 0.05%
COM. TIPO FLAT 1.0%
COM. TIPO FIJA 100.00
Portes y M 15.00
ITF 0.005%
Tasa impositiva 30.00%

Mes Saldo Int. + Com. Amortiz.


0 12000
1 12000 146.58 1939.79
2 10060.21 122.88 1963.48
3 8096.72 98.90 1987.47
4 6109.26 74.62 2011.75
5 4097.51 50.05 2036.32
6 2061.19 25.18 2061.19
12000.00

Principal 12,000
Plazo (meses) 6
TEA 15% TEM TOTAL 1.2215% Cuota
Modalidad Sist. Francs
COM. TIPO SPREAD 0.05% SE SUMA A LA TASA MENSUAL
COM. TIPO FLAT 1.0% SE COBRA EN EL PERIODO CERO EN EL MOMEN
COM. TIPO FIJA 100 SE COBRA EN EL PERIODO CERO EN EL MOMEN
Portes y M 15 SE CONSIDERA QUE SE COBRA DE LA CUENTA D
ITF 0.005%
Tasa impositiva 28%

Mes Saldo Int. + Com. Amortiz. Cuota


0 12000
1 12000 146.58 1939.79 2,086.37
2 10060.21 122.88 1963.48 2,086.37
3 8096.72 98.90 1987.47 2,086.37
4 6109.26 74.62 2011.75 2,086.37
5 4097.51 50.05 2036.32 2,086.37
6 2061.19 25.18 2061.19 2,086.37
12000.00
2,086.37

Cuota

2,086.37
2,086.37
2,086.37
2,086.37
2,086.37
2,086.37

2,086.37

A TASA MENSUAL
N EL PERIODO CERO EN EL MOMENTO DEL DESEMBOLSO DEPENDE DEL PRINCIPAL
N EL PERIODO CERO EN EL MOMENTO DEL DESEMBOLSO NO DEPENDE DEL PRINCIPAL
RA QUE SE COBRA DE LA CUENTA DEL BANCO, POR ESO SE COBRA 2 VECES EL ITF
Comisin FLAT Com fija Portes y M ITF AT FCN
120 100 1.2 61.94 11840.736
15 0.21 45.30 -2,056.28
15 0.21 38.67 -2,062.91
15 0.21 31.95 -2,069.63
15 0.21 25.15 -2,076.43
15 0.21 18.27 -2,083.31
15 0.21 11.31 -2,090.27
CEC MENSUAL d.i. 1.4224%
CEC ANUAL d.i. 18.4692%
CENTRUM
Matemticas Financieras
Profesor: Alfredo Vento Ortiz

SISTEMAS DE AMORTIZACIN

Principal 12,000
Plazo (meses) 6
TEA 15% TEM 1.2215% Cuota 2,086.37
Modalidad Sist. Francs
COM. TIPO SPREAD 0.05%
COM. TIPO FLAT 1.0%
COM. TIPO FIJA 100.00
Portes y M 15.00
ITF 0.005%
Tasa impositiva 30.00%

Mes Saldo Int. + Com. Amortiz. Cuota


0 12000
1 12000 146.58 1939.79 2,086.37
2 10060.21 122.88 1963.48 2,086.37
3 8096.72 98.90 1987.47 2,086.37
4 6109.26 74.62 2011.75 2,086.37
5 4097.51 50.05 2036.32 2,086.37
6 2061.19 25.18 2061.19 2,086.37
12000.00

Principal 12,000
Plazo (meses) 6
TEA 15% TEM TOTAL 1.2215% Cuota 2,086.37
Modalidad Sist. Francs
COM. TIPO SPREAD 0.05% (Tipo FLAT)
COM. TIPO FLAT 1.0%
COM. TIPO FIJA 100
Portes y M 15
ITF 0.005%
Tasa impositiva 28%

CUADRO BANCARIO
Mes Saldo Int. + Com. Amortiz. Cuota Comisin FLAT
0 12000 120
1 12000 146.58 1939.79 2,086.37
2 10060.21 122.88 1963.48 2,086.37
3 8096.72 98.90 1987.47 2,086.37
4 6109.26 74.62 2011.75 2,086.37
5 4097.51 50.05 2036.32 2,086.37
6 2061.19 25.18 2061.19 2,086.37
12000.00

CUADRO CONTABLE
Principal 12,000
Plazo (meses) 6
TCEA a.i. 26.56% TEM 1.9825% Cuota 2,141.05
Modalidad Sist. Francs
Tasa impositiva 28%

Mes Saldo Gastos Fin Amortiz. Cuota


0 12000 -12000
1 12000 237.90 1903.14 2,141.05
2 10096.86 200.17 1940.87 2,141.05
3 8155.98 161.69 1979.35 2,141.05
4 6176.63 122.45 2018.59 2,141.05
5 4158.04 82.43 2058.61 2,141.05
6 2099.42 41.62 2099.42 2,141.05
12000.00 1.9825%
Com fija Portes y M ITF FCN a.i.
100 1.2 11,778.80
15 0.21 -2,101.58
15 0.21 -2,101.58
15 0.21 -2,101.58
15 0.21 -2,101.58
15 0.21 -2,101.58
15 0.21 -2,101.58
TCEM a.i. 1.9825%
TCEA a.i. 26.5636%

AT FCN d.i.
0 12,000.00
66.61 -2,074.43
56.05 -2,085.00
45.27 -2,095.77
34.29 -2,106.76
23.08 -2,117.96
11.65 -2,129.39
TCEM d.i. 1.4274%
TCEA d.i. 18.5398%
CENTRUM
Matemticas Financieras
Profesor: Alfredo Vento Ortiz
Principal 30,000 TEA 2%
Plazo total (meses) 24 Com Flat 1.20%
Per. Gracia 3 Com fija 300
Com Spread 0.08%

SOLUCION

Hallamos tasa efectiva con comisin spread


TEM TOTAL 0.2452%

Hallamos el VF del principal por los perodos de gracia


TEM TOTAL 0.2452%
VF(PRINCIPAL) 30,221.18

Calculamos el importe de la cuota con el VF del prstamo y construmos cuadro de amortizacin


TEM TOTAL 0.2452%
VF(PRINCIPAL) 30,221.18
PAGOS 1,478.23

MES SALDO INTERS AMORTIZACIN CUOTA


0 30,000.00
1 30,000.00 0.00 0.00 0.00
2 30,000.00 0.00 0.00 0.00
3 30,000.00 0.00 0.00 0.00
4 30,221.18 1,478.23
5 1,478.23
6 1,478.23
7 1,478.23
8 1,478.23
9 1,478.23
10 1,478.23
11 1,478.23
12 1,478.23
13 1,478.23
14 1,478.23
15 1,478.23
16 1,478.23
17 1,478.23
18 1,478.23
19 1,478.23
20 1,478.23
21 1,478.23
22 1,478.23
23 1,478.23
24 1,478.23

TEM TOTAL 0.2452%


VF(PRINCIPAL) 30,221.18
PAGOS 1,478.23

MES SALDO INTERS AMORTIZACIN CUOTA


0 30,000.00
1 30,000.00 0.00 0.00 0.00
2 30,000.00 0.00 0.00 0.00
3 30,000.00 0.00 0.00 0.00
4 30,221.18 74.09 1,478.23
5 1,478.23
6 1,478.23
7 1,478.23
8 1,478.23
9 1,478.23
10 1,478.23
11 1,478.23
12 1,478.23
13 1,478.23
14 1,478.23
15 1,478.23
16 1,478.23
17 1,478.23
18 1,478.23
19 1,478.23
20 1,478.23
21 1,478.23
22 1,478.23
23 1,478.23
24 1,478.23

TEM TOTAL 0.2452%


VF(PRINCIPAL) 30,221.18
PAGOS 1,478.23

MES SALDO INTERS AMORTIZACIN CUOTA


0 30,000.00
1 30,000.00 0.00 0.00 0.00
2 30,000.00 0.00 0.00 0.00
3 30,000.00 0.00 0.00 0.00
4 30,221.18 74.09 1,404.14 1,478.23
5 28,817.04 1,478.23
6 1,478.23
7 1,478.23
8 1,478.23
9 1,478.23
10 1,478.23
11 1,478.23
12 1,478.23
13 1,478.23
14 1,478.23
15 1,478.23
16 1,478.23
17 1,478.23
18 1,478.23
19 1,478.23
20 1,478.23
21 1,478.23
22 1,478.23
23 1,478.23
24 1,478.23

TEM TOTAL 0.2452%


VF(PRINCIPAL) 30,221.18
PAGOS 1,478.23

MES SALDO INTERS AMORTIZACIN CUOTA


0 30,000.00
1 30,000.00 0.00 0.00 0.00
2 30,000.00 0.00 0.00 0.00
3 30,000.00 0.00 0.00 0.00
4 30,221.18 74.09 1,404.14 1,478.23
5 28,817.04 70.65 1,478.23
6 1,478.23
7 1,478.23
8 1,478.23
9 1,478.23
10 1,478.23
11 1,478.23
12 1,478.23
13 1,478.23
14 1,478.23
15 1,478.23
16 1,478.23
17 1,478.23
18 1,478.23
19 1,478.23
20 1,478.23
21 1,478.23
22 1,478.23
23 1,478.23
24 1,478.23
TEM TOTAL 0.2452%
VF(PRINCIPAL) 30,221.18
PAGOS 1,478.23 TEC 0.9842%

MES SALDO INTERS AMORTIZACIN CUOTA


0 30,000.00
1 30,000.00 0.00 0.00 0.00
2 30,000.00 0.00 0.00 0.00
3 30,000.00 0.00 0.00 0.00
4 30,221.18 74.09 1,404.14 1,478.23
5 28,817.04 70.65 1,407.58 1,478.23
6 27,409.46 67.20 1,411.03 1,478.23
7 25,998.43 63.74 1,414.49 1,478.23
8 24,583.94 60.27 1,417.96 1,478.23
9 23,165.98 56.79 1,421.44 1,478.23
10 21,744.54 53.31 1,424.92 1,478.23
11 20,319.62 49.82 1,428.41 1,478.23
12 18,891.20 46.31 1,431.92 1,478.23
13 17,459.29 42.80 1,435.43 1,478.23
14 16,023.86 39.28 1,438.95 1,478.23
15 14,584.92 35.76 1,442.47 1,478.23
16 13,142.44 32.22 1,446.01 1,478.23
17 11,696.43 28.67 1,449.55 1,478.23
18 10,246.88 25.12 1,453.11 1,478.23
19 8,793.77 21.56 1,456.67 1,478.23
20 7,337.10 17.99 1,460.24 1,478.23
21 5,876.86 14.41 1,463.82 1,478.23
22 4,413.03 10.82 1,467.41 1,478.23
23 2,945.62 7.22 1,471.01 1,478.23
24 1,474.61 3.62 1,474.61 1,478.23
30,221.18

TEM TOTAL 0.2452%


VF(PRINCIPAL) 30,221.18
PAGOS 1,478.23

MES SALDO INTERS AMORTIZACIN CUOTA


0 30,000.00
1 30,000.00 0.00 0.00 0.00
2 30,000.00 0.00 0.00 0.00
3 30,000.00 0.00 0.00 0.00
4 30,221.18 74.09 1,404.14 1,478.23
5 28,817.04 70.65 1,407.58 1,478.23
6 27,409.46 67.20 1,411.03 1,478.23
7 25,998.43 63.74 1,414.49 1,478.23
8 24,583.94 60.27 1,417.96 1,478.23
9 23,165.98 56.79 1,421.44 1,478.23
10 21,744.54 53.31 1,424.92 1,478.23
11 20,319.62 49.82 1,428.41 1,478.23
12 18,891.20 46.31 1,431.92 1,478.23
13 17,459.29 42.80 1,435.43 1,478.23
14 16,023.86 39.28 1,438.95 1,478.23
15 14,584.92 35.76 1,442.47 1,478.23
16 13,142.44 32.22 1,446.01 1,478.23
17 11,696.43 28.67 1,449.55 1,478.23
18 10,246.88 25.12 1,453.11 1,478.23
19 8,793.77 21.56 1,456.67 1,478.23
20 7,337.10 17.99 1,460.24 1,478.23
21 5,876.86 14.41 1,463.82 1,478.23
22 4,413.03 10.82 1,467.41 1,478.23
23 2,945.62 7.22 1,471.01 1,478.23
24 1,474.61 3.62 1,474.61 1,478.23
30,221.18

TEM TOTAL 0.2452%


VF(PRINCIPAL) 30,221.18
PAGOS 1,478.23

MES SALDO INTERS AMORTIZACIN CUOTA


0 30,000.00 -30,000.00
1 30,000.00 0.00 0.00 0.00
2 30,000.00 0.00 0.00 0.00
3 30,000.00 0.00 0.00 0.00
4 30,221.18 74.09 1,404.14 1,478.23
5 28,817.04 70.65 6,407.58 6,478.23
6 22,409.46 54.94 1,153.63 1,208.57
7 21,255.83 52.11 1,156.46 1,208.57
8 20,099.36 49.28 1,159.30 1,208.57
9 18,940.07 46.43 1,162.14 1,208.57
10 17,777.93 43.58 1,164.99 1,208.57
11 16,612.94 40.73 1,167.84 1,208.57
12 15,445.09 37.86 1,170.71 1,208.57
13 14,274.39 34.99 1,173.58 1,208.57
14 13,100.81 32.12 1,176.46 1,208.57
15 11,924.35 29.23 1,179.34 1,208.57
16 10,745.01 26.34 1,182.23 1,208.57
17 9,562.78 23.44 1,185.13 1,208.57
18 8,377.65 20.54 1,188.03 1,208.57
19 7,189.62 17.63 1,190.95 1,208.57
20 5,998.67 14.71 1,193.87 1,208.57
21 4,804.81 11.78 1,196.79 1,208.57
22 3,608.01 8.85 1,199.73 1,208.57
23 2,408.29 5.90 1,202.67 1,208.57
24 1,205.62 2.96 1,205.62 1,208.57
30,221.18 0.2452%

TEM TOTAL 0.2452%


VF(PRINCIPAL) 30,221.18
PAGOS 1,478.23 TEC 0.9842%

MES SALDO INTERS AMORTIZACIN CUOTA


0 30,000.00 -30,000.00
1 30,000.00 0.00 0.00 0.00
2 30,000.00 0.00 0.00 0.00
3 30,000.00 0.00 0.00 0.00
4 30,221.18 74.09 1,404.14 1,478.23
5 28,817.04 70.65 6,407.58 6,478.23
6 22,409.46 54.94 1,153.63 1,208.57
7 21,255.83 52.11 1,156.46 1,208.57
8 20,099.36 49.28 9,159.30 9,208.57
9 10,940.07 26.82 1,181.75 1,208.57
10 9,758.31 23.92 1,184.65 1,208.57
11 8,573.67 21.02 1,187.55 1,208.57
12 7,386.11 18.11 1,190.47 1,208.57
13 6,195.65 15.19 1,193.38 1,208.57
14 5,002.26 12.26 1,196.31 1,208.57
15 3,805.95 9.33 1,199.24 1,208.57
16 2,606.71 6.39 1,202.18 1,208.57
17 1,404.53 3.44 1,205.13 1,208.57
18 199.40 0.49 199.40 199.89
30,221.18 0.2452%

TEM TOTAL 0.2452%


VF(PRINCIPAL) 30,221.18
PAGOS 1,478.23 TEC 0.9842%

MES SALDO INTERS AMORTIZACIN CUOTA


0 30,000.00 -30,000.00
1 30,000.00 0.00 0.00 0.00
2 30,000.00 0.00 0.00 0.00
3 30,000.00 0.00 0.00 0.00
4 30,221.18 74.09 1,404.14 1,478.23
5 28,817.04 70.65 6,407.58 6,478.23
6 22,409.46 54.94 1,153.63 1,208.57
7 21,255.83 52.11 1,156.46 1,208.57
8 20,099.36 49.28 9,159.30 9,208.57
9 10,940.07 26.82 1,181.75 1,208.57
10 9,758.31 31.87 1,070.17 1,102.04
11 8,688.15 28.38 1,073.66 1,102.04
12 7,614.48 24.87 1,077.17 1,102.04
13 6,537.31 21.35 1,080.69 1,102.04
14 5,456.62 17.82 1,084.22 1,102.04
15 4,372.40 14.28 1,087.76 1,102.04
16 3,284.64 10.73 1,091.31 1,102.04
17 2,193.33 7.16 1,094.88 1,102.04
18 1,098.45 3.59 1,098.45 1,102.04
30,221.18 0.2595%
ITF 0.00%
Portes y M 10
Impuesto a la renta 30%
COMISION FLAT COMISIN FIJA PyM ITF AT FCN d.i.
360 300 0 198.00 29,538.00
0.000 0.00 0.00
0.000 0.00 0.00
0.000 0.00 0.00
10 0.000 25.23 -1,463.00
10 0.000 24.19 -1,464.04
10 0.000 23.16 -1,465.07
10 0.000 22.12 -1,466.11
10 0.000 21.08 -1,467.15
10 0.000 20.04 -1,468.19
10 0.000 18.99 -1,469.24
10 0.000 17.94 -1,470.29
10 0.000 16.89 -1,471.34
10 0.000 15.84 -1,472.39
10 0.000 14.79 -1,473.44
10 0.000 13.73 -1,474.50
10 0.000 12.67 -1,475.56
10 0.000 11.60 -1,476.63
10 0.000 10.54 -1,477.69
10 0.000 9.47 -1,478.76
10 0.000 8.40 -1,479.83
10 0.000 7.32 -1,480.91
10 0.000 6.25 -1,481.98
10 0.000 5.17 -1,483.06
10 0.000 4.08 -1,484.15
TIR MENSUAL d.0.3334%
TIR ANUAL d.i 4.0747%

PREPAGO 1 5000 CUOTA 2 REDUCIR IMPORTE

COMISION FLAT COMISIN FIJA PyM ITF AT FCN d.i.


360 300 0 198.00 29,538.00
0.000 0.00 0.00
0.000 0.00 0.00
0.000 0.00 0.00
10 0.000 25.23 -1,463.00
10 0.000 24.19 -6,464.04
10 0.000 19.48 -1,199.09
10 0.000 18.63 -1,199.94
10 0.000 17.78 -1,200.79
10 0.000 16.93 -1,201.64
10 0.000 16.08 -1,202.50
10 0.000 15.22 -1,203.35
10 0.000 14.36 -1,204.21
10 0.000 13.50 -1,205.07
10 0.000 12.64 -1,205.94
10 0.000 11.77 -1,206.80
10 0.000 10.90 -1,207.67
10 0.000 10.03 -1,208.54
10 0.000 9.16 -1,209.41
10 0.000 8.29 -1,210.29
10 0.000 7.41 -1,211.16
10 0.000 6.53 -1,212.04
10 0.000 5.65 -1,212.92
10 0.000 4.77 -1,213.80
10 0.000 3.89 -1,214.69
TIR MENSUAL d.0.3551%
TIR ANUAL d.i 4.3448%

PREPAGO 1 5000 CUOTA 2 REDUCIR IMPORTE


PREPAGO 2 8000 MES 8 REDUCIR PLAZO

COMISION FLAT COMISIN FIJA PyM ITF AT FCN d.i.


360 300 0 198.00 29,538.00
0.000 0.00 0.00
0.000 0.00 0.00
0.000 0.00 0.00
10 0.000 25.23 -1,463.00
10 0.000 24.19 -6,464.04
10 0.000 19.48 -1,199.09
10 0.000 18.63 -1,199.94
10 0.000 17.78 -9,200.79
10 0.000 11.05 -1,207.53
10 0.000 10.18 -1,208.40
10 0.000 9.31 -1,209.27
10 0.000 8.43 -1,210.14
10 0.000 7.56 -1,211.02
10 0.000 6.68 -1,211.89
10 0.000 5.80 -1,212.77
10 0.000 4.92 -1,213.66
10 0.000 4.03 -1,214.54
10 0.000 3.15 -206.74
TIR MENSUAL d.0.4108%
TIR ANUAL d.i 5.0422%

PREPAGO 1 5000 CUOTA 2 REDUCIR IMPORTE


PREPAGO 2 8000 MES 8 REDUCIR PLAZO
NUEVA EN TEA 3% MES 10
NUEVA TEM TOTAL 0.3266%

COMISION FLAT COMISIN FIJA PyM ITF AT FCN d.i.


360 300 0 198.00 29,538.00
0.000 0.00 0.00
0.000 0.00 0.00
0.000 0.00 0.00
10 0.000 25.23 -1,463.00
10 0.000 24.19 -6,464.04
10 0.000 19.48 -1,199.09
10 0.000 18.63 -1,199.94
10 0.000 17.78 -9,200.79
10 0.000 11.05 -1,207.53
10 0.000 12.56 -1,099.48
10 0.000 11.51 -1,100.53
10 0.000 10.46 -1,101.58
10 0.000 9.41 -1,102.64
10 0.000 8.35 -1,103.69
10 0.000 7.28 -1,104.76
10 0.000 6.22 -1,105.82
10 0.000 5.15 -1,106.89
10 0.000 4.08 -1,107.97
TIR MENSUAL d.0.4174%
TIR ANUAL d.i 5.1249%