DATOS SUPUESTOS

Valor terreno $30,000.00 Ingreso por alquileres $35,000

Valor edificaciones y mejoras $140,000.00 Inflacin anual 0.04
Precio de propiedad $170,000.00 Cargos V&C 0.03
Pago al contado $40,000.00 Gastos operativos 0.45
Prstamo $130,000.00 Tasa impositiva 0.28
Tasa de inters anual 0.11 Crecim. valor propiedad 0.025
Plazo en aos 20 Comisin sobre venta 0.05
Tasa de descuento 0.12

DETALLE / AOS 1 2 3 4 5
Ingresos brutos $35,000.00 $36,400.00 $37,856.00 $39,370.24 $40,945.05
Menos
Cargos V&C $1,050.00 $1,092.00 $1,135.68 $1,181.11 $1,228.35
Gastos de operacin $15,750.00 $16,380.00 $17,035.20 $17,716.61 $18,425.27
Ingreso neto $18,200.00 $18,928.00 $19,685.12 $20,472.52 $21,291.43
Menos
Depreciacin $5,090.91 $5,090.91 $5,090.91 $5,090.91 $5,090.91
Intereses $14,300.00 $14,077.27 $13,830.04 $13,555.61 $13,250.99
Utilidad imponible -$1,190.91 -$240.18 $764.17 $1,826.01 $2,949.52

Impuestos pagados (ahorrados) -$333.45 -$67.25 $213.97 $511.28 $825.87

Amortizacin prstamo $2,024.83 $2,247.56 $2,494.80 $2,769.22 $3,073.84

Flujo neto $2,208.62 $2,670.42 $3,146.32 $3,636.41 $4,140.73

VAN del negocio $11,000.87

Aos $16,324.83 inters Amort. Acumulado

1 1 $14,300.00 $2,024.83 $2,024.83
2 1 $14,077.27 $2,247.56 $4,272.40
3 1 $13,830.04 $2,494.80 $6,767.19
4 1 $13,555.61 $2,769.22 $9,536.42
5 1 $13,250.99 $3,073.84 $12,610.26
6 1 $12,912.87 $3,411.96 $16,022.22
7 1 $12,537.56 $3,787.28 $19,809.49
8 1 $12,120.96 $4,203.88 $24,013.37
9 1 $11,658.53 $4,666.30 $28,679.68
10 1 $11,145.24 $5,179.60 $33,859.27
11 1 $10,575.48 $5,749.35 $39,608.62
12 1 $9,943.05 $6,381.78 $45,990.41
13 1 $9,241.06 $7,083.78 $53,074.18
14 1 $8,461.84 $7,862.99 $60,937.18
15 1 $7,596.91 $8,727.92 $69,665.10
16 1 $6,636.84 $9,687.99 $79,353.09
17 1 $5,571.16 $10,753.67 $90,106.77
18 1 $4,388.26 $11,936.58 $102,043.34
19 1 $3,075.23 $13,249.60 $115,292.94
20 1 $1,617.78 $14,707.06 $130,000.00
 SEMESTRE 1-2011

Precio de venta $192,339.40

- Comisin ventas $9,616.97
= Precio neto $182,722.43

- Valor Residual $144,545.45

= Ganancia imponible $38,176.97

Precio Neto $182,722.43

- Impuestos $10,689.55
- Pago prstamo $117,389.74
= Ingreso lquido $54,643.13

VAN del Ingreso Lquido $31,005.98

+ VAN del negocio $11,000.87
- Capital inicial $40,000.00
= VAN Final $2,006.85

Amort+int $130,000
$16,324.83 $7.96
$16,324.83
$16,324.83
$16,324.83
$16,324.83
$16,324.83
$16,324.83
$16,324.83
$16,324.83
$16,324.83
$16,324.83
$16,324.83
$16,324.83
$16,324.83
$16,324.83
$16,324.83
$16,324.83
$16,324.83
$16,324.83
$16,324.83
DATOS SUPUESTOS
Valor terreno 30,000.00 Ingreso por alquileres 35,000
Valor edificaciones y mejoras 140,000.00 Inflacin anual 0.04 SEMESTRE 1-2011
Precio de propiedad 170,000.00 Cargos V&C 0.03
Pago al contado 40,000.00 Gastos operativos 0.45
Prstamo 130,000.00 Tasa impositiva 0.28
Tasa de inters anual 0.11 Crecim. valor propiedad 0.025
Plazo en aos 20 Comisin sobre venta 0.05
Tasa de descuento 0.12

Tasa inflacin anual 0.04 0.04 0.04 0.04

Cargos por V&C 0.03 0.03 0.03 0.03 0.03
Gastos de operacin 0.45 0.45 0.45 0.45 0.45

DETALLE / AOS 1 2 3 4 5 Precio de venta 192,339.40

Ingresos brutos 35,000.00 36,400.00 37,856.00 39,370.24 40,945.05 - Comisin ventas 9,616.97
Menos = Precio neto 182,722.43
Cargos V&C 1,050.00 1,092.00 1,135.68 1,181.11 1,228.35
Gastos de operacin 15,750.00 16,380.00 17,035.20 17,716.61 18,425.27 - Valor Residual 144,545.45
Ingreso neto 18,200.00 18,928.00 19,685.12 20,472.52 21,291.43 = Ganancia imponible 38,176.97
Menos
Depreciacin 5,090.91 5,090.91 5,090.91 5,090.91 5,090.91 Precio Neto 182,722.43
Intereses 14,300.00 14,077.27 13,830.04 13,555.61 13,250.99 - Impuestos 10,689.55
Utilidad imponible -1,190.91 -240.18 764.17 1,826.01 2,949.52 - Pago prstamo 117,389.74
= Ingreso lquido 54,643.13
Impuestos pagados (ahorrados) -333.45 -67.25 213.97 511.28 825.87
VAN del Ingreso Lquido 31,005.98
Amortizacin prstamo 2,024.83 2,247.56 2,494.80 2,769.22 3,073.84 + VAN del negocio 11,000.87
- Capital inicial 40,000.00
Flujo neto 2,208.62 2,670.42 3,146.32 3,636.41 4,140.73 VAN Final 2,006.85
VAN del negocio 11,000.87

Aos 16,324.83 inters Amort. Acumulado Amort+int 130,000.00

1 1 14,300.00 2,024.83 2,024.83 16,324.83
2 1 14,077.27 2,247.56 4,272.40 16,324.83
3 1 13,830.04 2,494.80 6,767.19 16,324.83
4 1 13,555.61 2,769.22 9,536.42 16,324.83
5 1 13,250.99 3,073.84 12,610.26 16,324.83
6 1 12,912.87 3,411.96 16,022.22 16,324.83
7 1 12,537.56 3,787.28 19,809.49 16,324.83
8 1 12,120.96 4,203.88 24,013.37 16,324.83
9 1 11,658.53 4,666.30 28,679.68 16,324.83
10 1 11,145.24 5,179.60 33,859.27 16,324.83
11 1 10,575.48 5,749.35 39,608.62 16,324.83
12 1 9,943.05 6,381.78 45,990.41 16,324.83
13 1 9,241.06 7,083.78 53,074.18 16,324.83
14 1 8,461.84 7,862.99 60,937.18 16,324.83
15 1 7,596.91 8,727.92 69,665.10 16,324.83
16 1 6,636.84 9,687.99 79,353.09 16,324.83
17 1 5,571.16 10,753.67 90,106.77 16,324.83
18 1 4,388.26 11,936.58 102,043.34 16,324.83
19 1 3,075.23 13,249.60 115,292.94 16,324.83
20 1 1,617.78 14,707.06 130,000.00 16,324.83