CASO: MUEBLES MODULARES LTDA.

Objeto Social de la empresa: producir y comercializar muebles de oficina.

Tiene dos líneas de productos: Muebles de Computador y Bibliotecas.

INVERSIONES EN ACTIVOS FIJOS

Maquinaria y
Especificación
Equipos

Superficie preparada para facilitar en trabajo de la carpintería, como el cepillado,

Banco Carpintero
lijado, corte etc. 4 x 2 m

Cepillo Eléctrico Herramienta con una cuchilla giratoria de profundidad de corte regulable.

Torno Torno para Carpinteria, Motor Trifásico Largo: 1.5 m Ancho: 0.7 m

Fresadora Sustitutivo en pequeñas superficies del cepillo o la escofina.

Herramienta eléctrica muy versátil con forma de pistola con gatillo que es el
Taladro
interruptor que lo acciona.

Sierra Circular Hoja redonda de bordes cortantes y motor propio.

Herramientas

Herramienta metálica con dos piezas formando mandíbula por un lado y que por la
Tenazas
palanca que ejerce su brazo sobre la misma resulta una herramienta polivalente.

Serrucho Manual Instrumento con asidero y cuchilla dentada de acero para corte

Punzón Herramienta de penetración compuesta de parte metálica y mango.

Pieza de forma alargada con dos ampollas cristalinas llenas de agua con burbuja de
Nivel de Burbuja aire. Señalar la verticalidad y horizontalidad de las superficies al centrar la
respectiva burbuja.

Mazo Tipo de martillo con cabeza de madera.

Martillo de orejas Tipo de martillo con un extremo con forma de doble oreja.

Herramienta metálica con dos brazos móviles terminados en punta unido por uno de
Compás
sus extremos.
Pieza normalmente metálica que forma ángulo recto, o con pieza móvil que permite
Escuadra
modificar el ángulo, según el tipo.

Escoplo Herramienta de corte y para ahuecar con mango y hoja en forma de bisel.
Escofina Herramienta de dientes triangulares dispuestos diagonalmente.

Herramienta cortante con mango que se utiliza para ahuecar. La hoja es de sección
Gubia
acanalada a tal efecto.
Instrumento con mango y parte metálica alargada terminada en forma de pala o
Destornillador
cruciforme. normalmente.

Barrena Pieza metálica labrada para facilitar la penetración con mango en forma de "T".

Pieza metálica construida con forma espiral y instalada en un berbiquí o taladro,

Broca
tiene gran capacidad de penetración.

Total

Muebles y Enseres

Escritorio Gerencia

Escritorio Secretaria

Conmutador
Telefónico

Mesas

Sillas

Total

Sistema de
cómputo

Computador CPU 8 Gb memoria, 1Tb Disco Duro

Impresora Impresora Laser 600ppp

Scanner Scanner 2500 ppp Color

Fotocopiadora/Fax
Total

Gastos de
Constitución
Adecuación
Infraestructura
Física
Registro Cámara de
Comercio
Certificado de
Bomberos
Gastos Notariales
Estudio de Mercado
Total
 Area física Espacio
Unidad de Costo Años Vida
Cant. donde se va a que ocupa Proveedor
Medida Unitario Util
instalar (en m2)

Unidad 10 Producción 80 125.00 10

Area de
Unidad 3 Producción 200.00 10
Trabajo
Area de
Unidad 2 Producción 1,000.00 10
Trabajo

Unidad 5 Producción 1.05 1,000.00 10

Area de
Unidad 10 Producción 25.00 10
Trabajo
Area de
Unidad 10 Producción 100.00 10
Trabajo

Area de
Unidad 20 Producción 5.00
Trabajo
Area de
Unidad 10 Producción 10.00
Trabajo
Area de
Unidad 15 Producción 5.00
Trabajo

Area de
Unidad 10 Producción 7.50
Trabajo

Area de
Unidad 10 Producción 5.00
Trabajo
Area de
Unidad 15 Producción 5.00
Trabajo
Area de
Unidad 5 Producción 10.00
Trabajo
Area de
Unidad 10 Producción 2.50
Trabajo
Area de
Unidad 20 Producción 7.50
Trabajo
 Area de
Unidad 50 Producción 12.50
Trabajo
Area de
Unidad 10 Producción 12.50
Trabajo
Area de
Unidad 20 Producción 5.00
Trabajo
Area de
Unidad 20 Producción 7.50
Trabajo
Area de
Unidad 15 Producción 5.00
Trabajo

Area de
Unidad 1 Administrativa 800,000 10
Trabajo
Area de
Unidad 1 Administrativa 300,000 10
Trabajo
Administrativa Sobre
Unidad 1 600,000 10
y Ventas Escritorio
Administrativa Area de
Unidad 2 100,000 10
y Ventas Trabajo
Administrativa Area de
Unidad 8 50,000 10
y Ventas Trabajo

Administrativa Sobre
Unidad 2 1,200,000
y Ventas Escritorio 5
Administrativa Sobre
Unidad 1 300,000
y Ventas Escritorio 5
Administrativa Sobre
Unidad 1 250,000
y Ventas Escritorio 5
Administrativa Sobre
Unidad 2 800,000
y Ventas Escritorio 5
 Administrativa Sobre
Unidad 5
y Ventas Escritorio

Administrativa Sobre
Unidad 5
y Ventas Escritorio
Administrativa Sobre
Unidad 5
y Ventas Escritorio
5
Administrativa Sobre
Unidad 5
y Ventas Escritorio
Costo Total

1,250

600

2,000

5,000

250

1,000

100

100

75

75

50

75

50

25

150
 625

125

100

150

75

USD 11,875

800,000

300,000

600,000

200,000

400,000

$ 2,300,000

2,400,000

300,000

250,000

1,600,000
$ 4,550,000
5,000,000

1,000,000

300,000
500,000
2,200,000
$ 9,000,000
 A B C D E F G
768
769
770 ESTADO DE RESULTADOS
771
772 Período 1 2 3 4 5
773 Año 2018 2019 2020 2021 2022
774 Ingresos Operacionales 902,500,000 951,848,700 1,011,725,024 1,074,910,235 1,141,106,325
775 - Costo de Ventas -391,117,708 -418,618,128 -446,583,822 -472,711,051 -515,247,404
776 Utilidad Bruta 511,382,292 533,230,572 565,141,202 602,199,183 625,858,921
777 - Gastos Administración -157,971,607 -163,857,737 -169,839,027 -175,546,853 -180,531,192
778 - Gastos de Ventas -161,099,210 -168,517,716 -177,200,340 -186,094,051 -194,741,502
779 Utilidad Operacional 192,311,475 200,855,119 218,101,834 240,558,280 250,586,228
780 Gastos Financieros:
781 Intereses credito Nal -986,400 -725,282 -401,495 0 0
782 Intereses credito M/E -2,429,316 -1,986,128 -1,489,712 -972,767 -489,712
783 Pérdida x Difer. cambio crédito M/E -190,368 -229,998 -152,849 -103,244 -34,768
784 Utilidad antes de Impuestos 188,705,392 197,913,711 216,057,779 239,482,269 250,061,748
785 - Impuestos (33%) -62,272,779 -65,311,525 -71,299,067 -79,029,149 -82,520,377
786 Utilidad Neta 126,432,612 132,602,186 144,758,712 160,453,120 167,541,371
787
788
789 ESTADO DE FLUJOS DE EFECTIVO (Método Directo Simplificado)
790
791 Período 0 1 2 3 4 5
792 Año 2017 2018 2019 2020 2021 2022
793 INGRESOS
794 Capital Pagado 70,203,419
795 Crédito M/E 24,414,644
796 Crédito Nacional 4,110,000
797 Efectivo caja inicial
798 Ingreso x Ventas en el Periodo 676,875,000 713,886,525 758,793,768 806,182,676 855,829,744
799 Recaudo C x C periodo anterior 0 207,575,000 218,925,201 232,696,756 247,229,354
800 Total Ingresos 98,728,063 676,875,000 921,461,525 977,718,969 1,038,879,431 1,103,059,098
801
802 EGRESOS
803 Maquinaria y Herramienta -34,878,063
804 Muebles y Enseres -2,300,000
805 Computador -4,550,000
806 Activos Diferidos -9,000,000
807 Pagos a Proveedores de MP -103,222,999 -91,129,463 -96,673,363 -101,405,282 -87,152,257
808 Pago de CxP Proveedores Per Anteriores 0 -34,407,666 -30,376,488 -32,224,454 -33,801,761
809 Pago MOD -129,812,633 -129,469,740 -139,955,009 -151,168,374 -149,125,879
810 Pago CIF -167,246,707 -170,661,943 -177,832,348 -184,930,931 -187,191,033
811 Gastos Administración pagados -155,913,607 -161,799,737 -167,781,027 -173,488,853 -178,473,192
812 Gastos de Ventas pagados -142,167,210 -148,598,742 -156,083,840 -163,713,846 -171,037,375
813 Pago Abono Credito Nacional -1,087,992 -1,349,111 -1,672,897 0 0
814 Pago Intereses Credito Nal -986,400 -725,282 -401,495 0 0
815 Pago Abono Credito M/E -4,921,002 -4,978,502 -5,029,451 -5,081,073 -5,115,841
816 Pago Intereses Credito M/E -2,429,316 -1,986,128 -1,489,712 -972,767 -489,712
817 Pago de Impuestos 0 -62,272,779 -65,311,525 -71,299,067 -79,029,149
818 Total Egresos -50,728,063 -707,787,866 -807,379,093 -842,607,155 -884,284,647 -891,416,198
819
820 Flujo de Efectivo Neto 48,000,000 -30,912,866 114,082,432 135,111,814 154,594,784 211,642,900
821 + Saldo Inicial Efectivo 48,000,000 17,087,134 131,169,566 266,281,380 420,876,164
822 Saldo Final Efectivo 48,000,000 17,087,134 131,169,566 266,281,380 420,876,164 632,519,064
823
Bonos del Tesoro de EEUU a 10 años

Year S&P 500 3-month T.Bill 10-year T. Bond Stocks T.Bills T.Bonds
1928 43.81% 3.08% 0.84% $ 143.81 $103.08 $ 100.84
1929 -8.30% 3.16% 4.19% $ 131.88 $106.34 $ 105.07
1930 -25.12% 4.55% 4.55% $ 98.75 $111.18 $ 109.85
1931 -43.84% 2.31% -2.57% $ 55.46 $113.74 $ 107.03
1932 -8.65% 1.07% 8.79% $ 50.66 $114.96 $ 116.44
1933 50.00% 0.96% 1.86% $ 75.99 $116.06 $ 118.60
1934 -1.18% 0.32% 7.97% $ 75.09 $116.44 $ 128.05
1935 46.73% 0.18% 4.47% $ 110.18 $116.64 $ 133.78
1936 31.95% 0.17% 5.02% $ 145.38 $116.84 $ 140.49
1937 -35.34% 0.30% 1.38% $ 94.00 $117.19 $ 142.43
1938 29.29% 0.08% 4.21% $ 121.53 $117.29 $ 148.43
1939 -1.09% 0.04% 4.41% $ 120.20 $117.33 $ 154.98
1940 -10.67% 0.03% 5.40% $ 107.37 $117.36 $ 163.35
1941 -12.77% 0.08% -2.03% $ 93.66 $117.46 $ 160.04
1942 19.17% 0.34% 2.30% $ 111.61 $117.85 $ 163.72
1943 25.07% 0.38% 2.49% $ 139.59 $118.30 $ 167.79
1944 19.03% 0.38% 2.58% $ 166.15 $118.75 $ 172.12
1945 35.82% 0.38% 3.81% $ 225.67 $119.20 $ 178.67
1946 -8.43% 0.38% 3.13% $ 206.65 $119.65 $ 184.26
1947 5.20% 0.57% 0.92% $ 217.39 $120.33 $ 185.95
1948 5.70% 1.02% 1.95% $ 229.79 $121.56 $ 189.58
1949 18.30% 1.10% 4.66% $ 271.85 $122.90 $ 198.42
1950 30.81% 1.17% 0.43% $ 355.60 $124.34 $ 199.27
1951 23.68% 1.48% -0.30% $ 439.80 $126.18 $ 198.68
1952 18.15% 1.67% 2.27% $ 519.62 $128.29 $ 203.19
1953 -1.21% 1.89% 4.14% $ 513.35 $130.72 $ 211.61
1954 52.56% 0.96% 3.29% $ 783.18 $131.98 $ 218.57
1955 32.60% 1.66% -1.34% $ 1,038.47 $134.17 $ 215.65
1956 7.44% 2.56% -2.25% $ 1,115.73 $137.60 $ 210.79
1957 -10.46% 3.23% 6.79% $ 999.05 $142.04 $ 225.11
1958 43.72% 1.78% -2.10% $ 1,435.84 $144.57 $ 220.39
1959 12.06% 3.26% -2.65% $ 1,608.95 $149.27 $ 214.56
1960 0.34% 3.05% 11.64% $ 1,614.37 $153.82 $ 239.53
1961 26.64% 2.27% 2.06% $ 2,044.40 $157.30 $ 244.46
1962 -8.81% 2.78% 5.69% $ 1,864.26 $161.67 $ 258.38
1963 22.61% 3.11% 1.69% $ 2,285.80 $166.70 $ 262.74
1964 16.42% 3.51% 3.73% $ 2,661.02 $172.54 $ 272.53
1965 12.40% 3.90% 0.72% $ 2,990.97 $179.28 $ 274.49
1966 -9.97% 4.84% 2.91% $ 2,692.74 $187.95 $ 282.47
1967 23.80% 4.33% -1.58% $ 3,333.69 $196.10 $ 278.01
1968 10.82% 5.26% 3.27% $ 3,694.23 $206.41 $ 287.11
1969 -8.24% 6.56% -5.02% $ 3,389.77 $219.96 $ 272.71
1970 3.56% 6.69% 16.76% $ 3,510.49 $234.66 $ 318.41
1971 14.22% 4.54% 9.79% $ 4,009.72 $245.32 $ 349.57
1972 18.76% 3.95% 2.82% $ 4,761.76 $255.01 $ 359.42
1973 -14.31% 6.73% 3.66% $ 4,080.44 $272.16 $ 372.57
1974 -25.90% 7.78% 1.99% $ 3,023.54 $293.33 $ 379.98
1975 37.00% 5.99% 3.61% $ 4,142.10 $310.90 $ 393.68
1976 23.83% 4.97% 15.99% $ 5,129.20 $326.35 $ 456.61
1977 -6.98% 5.13% 1.29% $ 4,771.20 $343.09 $ 462.50
1978 6.51% 6.93% -0.78% $ 5,081.77 $366.87 $ 458.90
1979 18.52% 9.94% 0.67% $ 6,022.89 $403.33 $ 461.98
1980 31.74% 11.22% -2.99% $ 7,934.26 $448.58 $ 448.17
1981 -4.70% 14.30% 8.20% $ 7,561.16 $ 512.73 $ 484.91
1982 20.42% 11.01% 32.82% $ 9,105.08 $ 569.18 $ 644.04
1983 22.34% 8.45% 3.20% $ 11,138.90 $ 617.26 $ 664.65
1984 6.15% 9.61% 13.73% $ 11,823.51 $ 676.60 $ 755.92
1985 31.24% 7.49% 25.71% $ 15,516.60 $ 727.26 $ 950.29
1986 18.49% 6.04% 24.28% $ 18,386.33 $ 771.15 $ 1,181.06
1987 5.81% 5.72% -4.96% $ 19,455.08 $ 815.27 $ 1,122.47
1988 16.54% 6.45% 8.22% $ 22,672.40 $ 867.86 $ 1,214.78
1989 31.48% 8.11% 17.69% $ 29,808.58 $ 938.24 $ 1,429.72
1990 -3.06% 7.55% 6.24% $ 28,895.11 $ 1,009.08 $ 1,518.87
1991 30.23% 5.61% 15.00% $ 37,631.51 $ 1,065.69 $ 1,746.77
1992 7.49% 3.41% 9.36% $ 40,451.51 $ 1,101.98 $ 1,910.30
1993 9.97% 2.98% 14.21% $ 44,483.33 $ 1,134.84 $ 2,181.77
1994 1.33% 3.99% -8.04% $ 45,073.14 $ 1,180.07 $ 2,006.43
1995 37.20% 5.52% 23.48% $ 61,838.19 $ 1,245.15 $ 2,477.55
1996 22.68% 5.02% 1.43% $ 75,863.69 $ 1,307.68 $ 2,512.94
1997 33.10% 5.05% 9.94% $ 100,977.34 $ 1,373.76 $ 2,762.71
1998 28.34% 4.73% 14.92% $ 129,592.25 $ 1,438.70 $ 3,174.95
1999 20.89% 4.51% -8.25% $ 156,658.05 $ 1,503.58 $ 2,912.88
2000 -9.03% 5.76% 16.66% $ 142,508.98 $ 1,590.23 $ 3,398.03
2001 -11.85% 3.67% 5.57% $ 125,622.01 $ 1,648.63 $ 3,587.37
2002 -21.97% 1.66% 15.12% $ 98,027.82 $ 1,675.96 $ 4,129.65
2003 28.36% 1.03% 0.38% $ 125,824.39 $ 1,693.22 $ 4,145.15
2004 10.74% 1.23% 4.49% $ 139,341.41 $ 1,714.00 $ 4,331.30
2005 4.83% 3.01% 2.87% $ 146,077.85 $ 1,765.59 $ 4,455.50
2006 15.61% 4.68% 1.96% $ 168,884.34 $ 1,848.18 $ 4,542.87
 2007 5.48% 4.64% 10.21% $ 178,147.20 $ 1,933.98 $ 5,006.69
2008 -36.55% 1.59% 20.10% $ 113,030.22 $ 1,964.64 $ 6,013.10
2009 25.94% 0.14% -11.12% $ 142,344.77 $ 1,967.29 $ 5,344.65
2010 14.82% 0.13% 8.46% $ 163,441.94 $ 1,969.84 $ 5,796.96
2011 2.10% 0.03% 16.04% $ 166,871.56 $ 1,970.44 $ 6,726.52
2012 15.89% 0.05% 2.97% $ 193,388.43 $ 1,971.42 $ 6,926.40
2013 32.15% 0.07% -9.10% $ 255,553.31 $ 1,972.72 $ 6,295.79
2014 13.52% 0.05% 10.75% $ 290,115.42 $ 1,973.77 $ 6,972.34
2015 1.38% 0.21% 1.28% $ 294,115.79 $ 1,977.91 $ 7,061.89
2016 11.77% 0.51% 0.69% $ 328,742.28 $ 1,988.00 $ 7,110.65
2017 21.64% 1.39% 2.80% $ 399,885.98 $ 2,015.63 $ 7,309.87
11.529961% 3.438000% 5.153860% Rendimiento Anual Promedio desde 1928
11.270456% 4.635862% 6.641635% Rendimiento Anual Promedio desde 1960

Beta sector (desapalancada) Industria de Muebles =

Industry Name Unlevered Beta corrected for Cash

Furn/Home Furnishing 0.67
Fuente: Aswath Damodaran

Stanley Furniture Co Inc: Company Report

Beta e = 0.45 Imp US 35% D/E Ratio = 0.29
Beta u = 0.3786285233 Imp Col 33% D/E Ratio = 0.40631417
Beta e MM = 0.481702753
Fuente: moneycentral.msn.com

Prima por Diferencial de inflación entre EEUU y Colombia

Proyecciones de inflación
Año 2018 2010 2011 2012 2013
IPC Colombia 3.40% 3.90% 3.65% 3.35% 3.00%
IPC EEUU 3% 3% 3% 2% 2%
Diferencial 0.78% 1.17% 1.02% 1.03% 0.68%

Riesgo País

Country Long­Term Rating
Country Risk Premium
Colombia Baa2 2.19%
Fuente: Damodaran Enero 2018

Fecha EMBI + Colombia

Riesgo País 2.30%
Promedio desde 01-01-2016 a 27-04-2018
Fuente: www.ambito.com

Prima por Riesgo Tamaño

Créditos en Enero 2018

FORMATO 88
Cifras en miles de pesos y tasas efectivas anuales
BANCOS

CREDITOS DE MICROCREDITO
CONSUMO
TASA MONTO TASA MONTO
May-02 28.13 466,042,793 131,113,498 27.12 8,109,639 2,199,707
Jun-02 27.91 409,902,018 114,422,390 26.73 6,324,409 1,690,407
Jul-02 27.80 492,913,562 137,046,096 26.80 8,983,515 2,407,711
Aug-02 27.59 338,363,539 93,353,451 26.86 8,479,371 2,277,689
Sep-02 27.59 371,419,272 102,464,186 27.70 9,368,579 2,595,385
Oct-02 27.33 470,350,159 128,527,838 27.27 12,802,114 3,490,543
Nov-02 27.34 394,834,938 107,946,905 26.45 12,544,496 3,317,649
Dec-02 27.15 394,698,486 107,153,357 26.47 10,901,531 2,885,763
Jan-03 27.33 338,862,828 92,619,082 26.95 10,304,197 2,777,246
Feb-03 27.53 355,535,390 97,891,592 26.62 13,631,225 3,628,837
Mar-03 27.20 359,923,939 97,882,283 26.81 13,044,976 3,497,279
Apr-03 27.18 470,431,411 127,851,882 27.35 13,539,187 3,703,491
May-03 27.29 424,139,548 115,730,604 27.76 12,552,876 3,484,350
Jun-03 26.75 401,065,783 107,284,652 27.22 13,838,718 3,767,419
Jul-03 26.84 491,177,005 131,828,753 27.45 17,561,989 4,820,966
Aug-03 27.13 516,220,582 140,035,724 27.91 20,253,823 5,653,773
Sep-03 27.28 401,501,099 109,538,412 28.23 16,362,718 4,618,739
Oct-03 27.40 567,134,740 155,411,466 28.02 17,573,903 4,924,315
Nov-03 27.25 458,841,623 125,030,881 27.73 17,840,608 4,947,346
Dec-03 26.98 489,409,351 132,060,091 27.34 15,739,219 4,303,248
Jan-04 27.09 338,889,245 91,795,292 27.55 14,574,300 4,015,528
Feb-04 27.02 432,438,019 116,865,086 27.05 19,022,221 5,146,429
Mar-04 26.89 610,388,209 164,141,942 28.14 20,344,804 5,725,846
Apr-04 26.73 519,191,629 138,768,892 27.87 16,909,271 4,713,023
May-04 26.48 463,104,949 122,607,648 27.67 16,951,335 4,690,799
Jun-04 26.26 648,011,678 170,142,955 27.47 23,135,814 6,354,253
Jul-04 26.18 508,852,675 133,202,986 27.18 17,790,771 4,836,210
Aug-04 25.80 522,109,377 134,721,926 27.25 17,370,096 4,734,032
Sep-04 25.77 720,232,505 185,619,468 27.25 26,225,834 7,146,223
Oct-04 25.42 590,136,965 149,988,142 26.80 23,124,493 6,197,827
Nov-04 25.88 583,816,735 151,076,103 27.40 21,099,748 5,781,234
Dec-04 25.08 818,168,841 205,165,865 27.32 29,555,553 8,073,213
Jan-05 25.55 453,736,857 115,937,307 27.40 17,103,482 4,686,548
Feb-05 25.53 621,688,155 158,689,439 27.24 24,466,441 6,664,212
Mar-05 25.02 816,149,593 204,168,957 26.79 38,021,136 10,186,259
Apr-05 24.92 826,037,207 205,816,485 26.79 26,877,353 7,199,692
May-05 24.82 689,804,555 171,176,185 26.70 25,655,649 6,850,716
Jun-05 24.39 907,045,079 221,236,263 26.41 32,702,609 8,638,321
Jul-05 24.12 705,523,795 170,186,037 25.84 25,328,310 6,544,909
Aug-05 23.91 910,651,213 217,736,705 25.28 36,464,506 9,218,227
Sep-05 23.69 837,564,928 198,419,131 25.30 32,398,164 8,196,735
Oct-05 23.33 770,008,216 179,642,829 24.91 30,691,455 7,646,600
Nov-05 23.37 1,035,060,355 241,886,020 24.39 43,817,792 10,687,620
Dec-05 22.87 832,750,355 190,453,912 24.27 31,927,835 7,749,622
Jan-06 22.86 612,444,613 140,010,330 23.93 24,857,021 5,947,318
Feb-06 22.71 963,058,098 218,693,345 24.14 38,142,255 9,208,281
Mar-06 22.39 1,336,342,141 299,183,761 23.69 54,618,887 12,939,739
Apr-06 21.14 1,105,203,706 233,640,063 23.08 41,041,244 9,472,319
May-06 20.50 1,375,649,441 282,008,135 22.08 52,414,671 11,573,159
Jun-06 20.06 1,195,457,189 239,808,712 21.72 43,124,845 9,366,716
Jul-06 19.56 1,123,976,481 219,849,800 21.15 40,583,298 8,583,368
Aug-06 19.32 1,600,759,750 309,195,087 21.23 50,162,952 10,649,274
Sep-06 19.36 1,468,663,131 284,304,083 21.30 45,862,735 9,768,832
Oct-06 19.72 1,123,003,757 221,500,425 21.32 40,151,238 8,560,189
Nov-06 19.71 1,580,009,027 311,360,329 21.34 64,817,264 13,834,081
Dec-06 19.54 1,217,244,880 237,849,060 21.54 46,957,971 10,112,933
Jan-07 19.14 1,244,948,649 238,258,451 22.51 46,004,110 10,353,444
Feb-07 18.98 1,462,283,443 277,503,350 25.31 48,176,206 12,193,547
Mar-07 18.41 1,752,923,691 322,751,232 26.47 53,803,111 14,241,087
Apr-07 19.44 1,554,681,267 302,170,603 28.05 48,542,246 13,616,598
May-07 21.23 1,740,904,135 369,588,410 29.24 61,301,287 17,924,216
Jun-07 21.99 1,224,516,888 269,294,433 29.18 50,176,732 14,640,177
Jul-07 23.69 1,087,914,485 257,684,493 29.97 38,811,415 11,633,093
Aug-07 24.17 1,563,873,948 378,013,006 30.57 61,688,134 18,858,858
Sep-07 24.52 1,410,080,285 345,740,380 30.59 48,157,391 14,730,536
Oct-07 25.50 1,667,007,147 425,123,440 30.64 61,561,869 18,864,288
Nov-07 25.87 1,350,016,978 349,216,019 31.06 58,136,198 18,054,763
Dec-07 25.34 1,280,806,665 324,554,525 30.97 55,032,315 17,044,793
Jan-08 25.94 1,103,440,243 286,189,262 30.87 37,283,602 11,508,567
Feb-08 26.31 1,255,520,823 330,290,727 31.54 56,878,854 17,940,306
Mar-08 26.03 1,097,171,626 285,557,159 31.20 43,362,331 13,528,259
Apr-08 25.89 1,907,076,011 493,791,277 31.74 90,741,138 28,800,946
May-08 24.81 1,447,344,591 359,068,831 31.03 83,666,395 25,961,429
Jun-08 25.93 1,327,010,368 344,063,312 30.99 90,201,084 27,956,277
Jul-08 25.74 1,577,287,558 405,921,780 31.50 110,777,037 34,890,028
Aug-08 25.62 1,276,346,744 326,985,828 31.56 82,080,967 25,904,513
Sep-08 25.85 1,295,541,879 334,896,641 31.62 88,088,979 27,855,939
Oct-08 25.60 1,794,139,266 459,324,533 31.49 125,126,493 39,399,335
Nov-08 25.73 1,194,658,484 307,338,263 32.27 120,642,020 38,927,960
Dec-08 25.71 1,252,604,795 322,009,535 26.27 180,982,334 47,544,840
Jan-09 25.73 897,743,468 230,977,075 30.24 105,436,923 31,888,426
Feb-09 25.51 1,245,404,797 317,682,365 31.50 114,809,531 36,164,936
Mar-09 25.34 1,024,951,724 259,711,092 31.44 109,880,297 34,543,395
Apr-09 24.71 1,394,135,323 344,540,705 31.17 150,796,590 46,998,317
May-09 24.25 1,196,739,072 290,154,250 30.80 118,202,009 36,407,493
Jun-09 23.61 1,188,123,156 280,571,346 30.36 110,176,734 33,451,912
Jul-09 22.74 1,689,563,247 384,174,206 30.88 151,775,621 46,874,448
Aug-09 22.16 1,194,303,745 264,676,918 30.78 108,896,792 33,517,392
Sep-09 21.84 1,888,584,682 412,420,504 31.25 157,535,765 49,237,598
Oct-09 20.86 1,473,753,904 307,362,270 31.03 129,120,222 40,060,054
Nov-09 20.53 1,304,037,236 267,750,458 30.70 102,703,433 31,533,897
Dec-09 20.18 1,685,713,853 340,124,177 31.03 114,287,756 35,460,075
Jan-10 19.76 1,182,935,241 233,782,613 31.01 79,447,020 24,639,662
Feb-10 19.57 1,609,362,798 314,982,543 31.30 100,252,574 31,375,164
Mar-10 19.12 1,926,959,332 368,376,930 30.49 117,407,486 35,793,326
Apr-10 18.42 1,863,628,730 343,333,002 30.73 105,430,273 32,394,206
May-10 18.08 1,666,192,402 301,283,976 31.01 94,515,695 29,309,385
Jun-10 17.92 2,265,467,875 406,070,750 30.70 130,610,945 40,098,468
Jul-10 17.59 1,769,602,547 311,342,704 31.20 108,903,602 33,974,821
Aug-10 17.33 1,663,917,566 288,406,535 31.33 112,342,237 35,198,610
Sep-10 17.38 2,747,116,460 477,357,442 30.84 163,226,134 50,337,883
Oct-10 16.71 1,940,793,948 324,288,523 31.62 130,462,269 41,257,919
Nov-10 16.57 1,953,956,919 323,822,673 31.77 120,910,083 38,413,493
Dec-10 16.63 2,534,219,130 421,507,196 31.18 165,042,597 51,459,923
Jan-11 17.22 1,334,708,095 229,855,136 34.33 95,552,165 32,806,011
Feb-11 17.30 1,993,367,683 344,839,031 35.03 161,317,793 56,513,522
Mar-11 17.41 2,822,362,631 491,433,750 34.12 219,654,998 74,954,524
Apr-11 17.29 2,231,259,692 385,784,341 34.44 163,592,584 56,345,342
May-11 17.71 2,539,361,523 449,678,316 34.78 180,591,417 62,803,608
Jun-11 18.12 3,294,844,400 597,034,405 34.53 230,922,385 79,744,232
Jul-11 18.30 2,296,251,661 420,135,888 35.45 180,486,817 63,987,026
Aug-11 18.61 2,834,951,116 527,460,891 35.19 241,421,524 84,945,526
Sep-11 18.47 2,529,769,080 467,368,432 35.23 225,372,074 79,395,025
Oct-11 18.33 2,382,260,436 436,557,689 35.60 194,890,362 69,382,156
Nov-11 18.17 3,171,524,710 576,241,162 35.75 260,635,884 93,175,085
Dec-11 18.90 2,576,924,956 487,125,463 35.94 200,506,680 72,068,075
Jan-12 20.37 1,726,297,047 351,654,458 36.26 161,540,587 58,582,398
Feb-12 19.30 3,600,914,840 694,964,020 35.87 267,546,625 95,958,867
Mar-12 19.17 2,900,384,914 556,122,338 36.23 190,295,804 68,942,208
Apr-12 19.44 2,541,483,664 494,037,039 36.09 165,805,924 59,844,023
May-12 19.24 3,407,421,111 655,430,760 36.08 226,520,951 81,717,929
Jun-12 19.02 2,794,246,012 531,555,808 35.60 165,287,156 58,844,420
Jul-12 19.59 2,427,466,225 475,500,277 35.68 160,623,543 57,316,928
Aug-12 19.41 3,416,384,873 662,996,459 35.40 261,098,819 92,426,672
Sep-12 18.88 2,979,358,764 562,531,880 34.72 206,395,070 71,652,300
Oct-12 18.75 3,375,487,705 632,745,207 33.77 279,938,960 94,524,295
Nov-12 18.39 2,955,913,607 543,728,161 32.65 253,837,628 82,882,956
Dec-12 18.19 2,869,415,915 521,883,194 31.64 216,189,506 68,401,875
Jan-13 19.17 2,592,251,886 496,967,231 34.03 224,137,066 76,275,265
Feb-13 18.36 2,959,617,703 543,362,768 33.81 231,683,257 78,325,023
Mar-13 17.91 2,904,708,482 520,145,922 32.76 218,188,386 71,484,072
Apr-13 18.02 2,948,522,628 531,203,703 33.41 219,738,605 73,415,532
May-13 17.88 3,860,576,373 690,177,281 33.69 303,274,833 102,171,142
Jun-13 17.85 3,112,736,430 555,605,941 34.45 222,605,616 76,678,827
Jul-13 17.59 3,953,167,332 695,292,085 34.28 286,318,161 98,142,145
Aug-13 17.50 3,084,189,688 539,867,245 34.65 236,077,902 81,796,941
Sep-13 17.59 3,099,847,070 545,126,967 34.15 257,327,592 87,877,807
Oct-13 17.43 4,107,974,640 716,131,433 34.36 337,564,668 115,981,508
Nov-13 17.40 3,159,013,128 549,546,481 34.45 262,519,689 90,446,794
Dec-13 17.64 2,995,204,704 528,232,896 34.84 249,557,928 86,955,333
Jan-14 18.12 2,971,867,481 538,526,177 35.38 269,958,587 95,523,463
Feb-14 17.67 3,198,374,166 565,262,326 34.94 259,885,521 90,797,204
Mar-14 17.45 3,077,373,459 537,094,135 34.72 238,062,567 82,651,646
Apr-14 17.19 4,177,936,990 718,213,344 34.53 317,551,080 109,642,026
May-14 17.23 3,778,742,891 651,120,980 34.37 286,734,754 98,564,587
Jun-14 17.39 3,309,874,194 575,696,393 34.48 262,564,439 90,543,876
Jul-14 17.20 4,402,437,078 757,033,346 34.68 328,654,938 113,966,830
Aug-14 17.06 3,518,207,283 600,126,890 34.47 269,608,228 92,940,129
Sep-14 17.24 3,565,571,570 614,607,682 34.58 269,664,623 93,254,848
Oct-14 17.03 4,798,568,250 817,312,824 34.44 377,358,758 129,964,086
Nov-14 17.04 3,553,457,062 605,492,986 34.39 276,584,694 95,120,042
Dec-14 16.67 4,265,752,909 711,132,798 34.47 309,078,836 106,539,354
Jan-15 17.74 2,924,751,417 518,826,060 35.11 250,734,950 88,045,419
Feb-15 17.31 3,806,235,440 658,990,034 36.00 392,958,133 141,478,352
Mar-15 17.35 3,512,014,517 609,463,216 36.20 390,687,938 141,444,698
Apr-15 17.24 4,688,431,103 808,491,494 35.96 520,954,241 187,331,027
May-15 17.15 4,008,639,055 687,604,288 35.89 404,328,387 145,115,846
Jun-15 17.15 3,610,615,296 619,098,805 35.92 389,448,629 139,882,960
Jul-15 16.83 4,828,951,727 812,715,055 36.04 521,442,455 187,910,259
Aug-15 16.85 3,825,209,552 644,468,131 36.09 352,411,757 127,196,906
Sep-15 16.86 5,453,808,249 919,423,100 35.92 537,652,833 193,130,606
Oct-15 17.25 4,111,048,568 709,176,155 36.07 429,009,445 154,751,708
Nov-15 17.59 3,627,962,114 638,305,892 36.44 404,567,532 147,406,721
Dec-15 17.63 4,592,236,056 809,398,314 36.36 510,004,153 185,439,321
Jan-16 18.66 2,925,942,339 545,844,952 37.20 377,429,776 140,396,062
Feb-16 18.45 3,857,614,315 711,762,296 37.08 428,724,556 158,989,161
Mar-16 18.45 4,687,118,475 864,723,638 37.19 498,931,394 185,555,159
Apr-16 18.70 4,474,352,177 836,677,484 37.45 442,259,451 165,609,484
May-16 18.95 4,170,828,972 790,483,017 37.31 418,791,224 156,242,885
Jun-16 19.08 5,201,868,519 992,741,112 37.07 532,104,586 197,264,767
Jul-16 19.23 4,008,885,364 771,107,213 37.16 410,091,757 152,383,323
Aug-16 19.49 4,998,154,341 974,195,983 37.29 519,171,524 193,576,771
Sep-16 19.52 4,537,306,555 885,762,340 37.59 490,635,561 184,449,014
Oct-16 19.80 4,088,625,405 809,404,569 37.61 370,120,923 139,188,417
Nov-16 19.57 5,515,530,135 1,079,639,367 37.98 512,154,264 194,536,824
Dec-16 19.35 4,292,433,135 830,416,145 37.91 398,645,773 151,122,535
Jan-17 20.93 2,908,923,720 608,760,286 37.99 321,545,632 122,143,251
Feb-17 20.00 4,274,090,382 854,622,289 38.00 434,728,237 165,192,438
Mar-17 19.78 5,966,956,335 1,180,038,529 37.11 546,609,680 202,841,307
Apr-17 19.91 4,186,131,172 833,384,031 37.08 392,756,530 145,652,382
May-17 19.76 5,442,940,304 1,075,285,173 37.03 540,680,637 200,194,921
 Jun-17 19.44 4,437,689,537 862,790,965 36.82 463,347,758 170,604,129
Jul-17 19.37 4,189,069,280 811,337,268 37.18 406,563,330 151,140,218
Aug-17 18.86 6,023,963,220 1,136,166,144 36.83 566,510,583 208,644,608
Sep-17 18.84 4,999,453,116 941,903,830 36.74 467,224,989 171,639,170
Oct-17 18.85 4,534,808,111 854,855,468 36.98 446,824,417 165,238,988
Nov-17 18.60 6,285,045,725 1,168,721,802 36.96 622,280,626 230,019,817
Dec-17 18.59 4,405,859,075 818,881,837 36.99 427,354,455 158,078,220
Jan-18 19.24 4,248,973,992 817,373,634 37.19 481,670,346 179,121,142
Feb-18 18.54 5,125,145,389 949,976,811 36.70 463,179,265 170,004,968
429,827,194,781 83,464,838,261 31.46 34,566,708,990 12,030,694,019
19.42% 34.80%

NOTA: Se actualiza la información de microcrédito para los meses de octubre de 2012 a febrero de 2013, por retransmisión del Banco Agrario ( ago
Fuente: www.supefinanciera.gov.co

23.33%
Prima RiesgoTamaño = 9.26%

Año 2018 2019 2020 2021 2022 La estructura de

Beta L = 0.7996967879 0.7022531817 0.6868854521 0.6776848198 0.67303164 anterior. Por esto
Ke = 10.34% 9.89% 9.82% 9.78% 9.76% final de 2017, pa
Riesgo País 2.19% 2.19% 2.19% 2.19% 2.19%
de 2018 y así suc
Dif Inflación 0.78% 1.17% 1.02% 1.03% 0.68%
Riesgo Tama 9.26% 9.26% 9.26% 9.26% 9.26%
TMRR = 24.16% 24.13% 23.87% 23.82% 23.38%

Cálculo WACC
Año 2018 2019 2020 2021 2022
Deuda 28,524,644 22,706,017 16,608,403 10,058,903 5,081,073
Patrimonio 98,728,063 316,022,493 441,534,632 587,579,353 752,362,032
% Participación
Deuda 0.2241574627 0.0670330841 0.0362515661 0.0168310892 0.00670819
Patrimonio 0.7758425373 0.9329669159 0.9637484339 0.9831689108 0.99329181
Costo
Deuda 12.64% 12.95% 12.31% 10.70% 10.32%
Patrimonio 24.16% 24.13% 23.87% 23.82% 23.38%
Costo Después de Impuesto
Deuda 8.47% 8.68% 8.25% 7.17% 6.92%
Patrimonio 24.16% 24.13% 23.87% 23.82% 23.38%
Costo Ponderado
Deuda 1.90% 0.58% 0.30% 0.12% 0.05%
Patrimonio 18.74% 22.51% 23.00% 23.42% 23.22%
WACC = 20.64% 23.09% 23.30% 23.54% 23.27%
o desde 1928
o desde 1960

Taxable Income U.S. ($) Tax Rate

0 to 50,000 15%
50,000 to 75,000 25%
75,000 to 100,000 34%
100,000 to 335,000 39%
335,000 to 10,000,000 34%
10,000,000 to 15,000,000 35%
15,000,000 to 18,333,333 38%
18,333,333 and up 35%
 CREDITO CREDITO CREDITO
ORDINARIO PREFE. O CORPO. DE TESORERIA
TASA MONTO TASA MONTO TASA
14.87 971,171,141 144,438,771 12.46 594,481,587 74,099,357 11.28
15.67 659,872,877 103,399,896 11.46 484,070,271 55,469,455 9.53
15.75 738,231,160 116,270,793 10.90 806,166,938 87,833,049 9.14
16.22 418,365,178 67,838,393 10.76 914,195,564 98,382,761 9.44
16.30 421,948,827 68,780,884 11.06 960,882,800 106,254,657 9.22
16.34 575,216,525 93,996,893 11.06 1,061,255,069 117,426,692 9.09
17.13 451,134,771 77,264,572 11.16 843,507,126 94,149,699 9.00
15.34 871,349,874 133,643,180 10.88 1,231,387,717 134,035,290 8.94
16.60 645,139,299 107,063,189 10.65 1,296,611,509 138,147,816 9.03
15.80 665,408,723 105,120,242 10.52 1,038,321,894 109,248,768 9.06
16.05 590,644,159 94,819,145 10.62 1,023,740,597 108,744,404 9.16
16.41 707,014,086 116,019,031 10.56 1,309,758,452 138,290,832 8.93
16.79 619,104,179 103,954,765 11.36 827,982,523 94,083,345 9.43
16.57 772,660,651 128,056,581 11.04 1,173,309,237 129,589,124 9.51
16.51 778,265,216 128,513,925 10.71 1,254,241,216 134,310,293 9.66
16.89 761,193,089 128,601,211 11.12 1,368,187,105 152,074,279 9.76
16.95 659,990,502 111,841,722 11.15 1,120,878,848 124,983,826 9.67
16.07 955,004,924 153,465,749 11.07 1,533,299,795 169,787,252 9.95
16.87 685,112,237 115,611,591 11.30 1,286,050,076 145,375,049 9.96
15.67 1,382,570,197 216,670,877 11.26 1,881,664,560 211,920,155 10.19
16.65 571,986,972 95,234,268 10.87 1,284,359,121 139,626,894 9.98
15.83 924,673,362 146,368,054 11.15 1,288,236,071 143,679,122 10.12
16.72 948,386,301 158,587,954 10.89 1,837,875,576 200,115,753 9.83
17.22 640,882,821 110,348,611 11.13 1,186,755,812 132,126,258 9.77
17.07 720,069,793 122,946,205 10.89 1,280,613,350 139,489,555 9.62
17.16 980,231,987 168,210,751 10.67 2,128,029,795 227,070,223 9.57
16.71 708,645,214 118,386,044 10.68 1,490,044,411 159,128,457 9.49
16.77 729,430,101 122,317,829 10.82 1,452,411,024 157,128,118 9.42
17.37 996,784,500 173,171,813 10.77 2,001,253,698 215,448,781 9.43
17.04 823,338,476 140,266,545 10.71 1,434,406,161 153,694,831 9.47
16.27 940,208,986 152,931,420 11.11 1,736,975,338 192,972,204 9.27
16.17 1,742,329,093 281,659,230 11.16 2,384,954,439 266,128,950 9.50
16.62 612,868,318 101,838,916 10.88 1,151,192,306 125,233,073 9.58
15.74 928,132,606 146,112,346 10.48 1,351,279,506 141,615,750 9.33
15.98 1,125,320,859 179,799,730 10.77 1,887,038,346 203,227,666 9.22
16.62 797,213,238 132,477,287 10.24 1,503,985,152 154,023,114 8.90
16.32 787,755,933 128,561,850 10.42 1,604,428,169 167,147,370 8.86
15.85 1,266,813,270 200,808,772 10.28 2,194,523,048 225,513,419 8.82
16.35 817,781,342 133,681,603 10.05 1,257,803,669 126,393,187 8.96
16.13 1,123,306,064 181,189,268 9.96 2,038,274,362 203,012,126 8.97
16.03 892,154,543 143,012,373 10.16 1,930,951,575 196,184,680 8.92
15.92 810,754,485 129,057,991 9.59 2,124,794,920 203,813,359 8.26
15.52 1,211,317,543 187,944,762 9.55 2,701,615,137 258,034,909 8.31
15.17 1,134,109,921 172,094,001 9.60 2,877,662,572 276,259,478 8.37
15.63 605,213,605 94,579,622 9.25 1,617,040,293 149,615,347 8.32
14.43 1,080,265,823 155,849,941 9.03 2,021,738,601 182,475,342 8.09
14.92 1,128,881,411 168,473,616 8.83 2,741,270,634 241,950,912 8.05
14.75 844,574,284 124,574,707 8.64 2,122,716,375 183,402,695 7.65
14.52 1,213,275,802 176,167,646 8.53 3,759,769,077 320,708,302 7.92
13.42 1,583,719,636 212,535,175 8.80 3,802,196,012 334,593,249 8.02
14.61 1,073,728,005 156,871,662 9.16 3,187,094,613 291,937,867 8.41
14.52 1,454,461,589 211,231,216 9.34 3,861,148,614 360,474,104 8.73
14.61 1,297,422,031 189,505,560 9.55 3,080,784,981 294,160,021 8.72
13.55 1,479,006,366 200,395,626 9.42 3,050,282,270 287,383,179 8.86
13.40 2,379,096,059 318,840,165 9.95 4,592,802,169 457,105,712 9.24
13.31 2,667,094,829 355,030,913 10.15 3,550,181,723 360,197,404 9.57
13.37 1,843,489,500 246,394,454 10.33 3,715,657,405 384,012,839 9.82
13.04 2,530,952,794 329,974,968 10.48 3,240,272,598 339,680,916 10.21
14.60 1,991,124,378 290,645,853 11.17 3,496,393,073 390,462,028 10.54
14.77 1,760,953,979 260,145,409 11.37 2,513,420,293 285,868,506 10.76
15.72 2,288,992,716 359,774,344 11.69 4,380,728,926 511,966,016 11.36
16.24 1,957,654,261 317,914,714 12.27 3,244,534,984 398,071,625 11.77
16.55 1,872,856,906 309,885,225 12.93 2,651,633,199 342,731,939 12.25
16.46 2,580,000,506 424,697,222 13.31 4,140,912,293 550,998,765 12.67
16.98 2,326,191,247 395,022,315 13.66 3,467,036,565 473,645,285 12.76
16.88 2,903,730,342 490,198,643 13.49 4,302,413,704 580,224,101 12.56
16.93 2,750,459,749 465,720,262 13.62 3,520,334,160 479,525,293 12.36
16.94 3,496,947,380 592,536,621 13.84 3,933,164,480 544,512,855 12.62
17.37 2,765,700,228 480,359,269 14.01 3,785,446,257 530,292,986 12.70
16.93 3,313,477,675 561,094,159 13.94 4,483,109,947 624,850,563 12.70
16.94 3,401,948,145 576,219,090 14.58 3,956,361,729 576,685,887 13.06
17.08 4,631,217,660 790,799,419 14.66 5,150,351,951 754,989,669 13.64
16.95 3,757,318,300 636,813,566 13.94 4,411,359,786 614,793,313 13.68
16.91 4,330,625,919 732,361,732 14.53 4,762,999,618 692,059,335 13.55
16.79 5,046,904,651 847,531,445 14.46 5,319,458,672 769,391,233 13.54
16.86 4,445,683,216 749,328,595 14.79 4,108,052,452 607,707,260 13.78
16.94 4,707,738,879 797,568,970 14.94 4,478,455,777 668,926,399 13.49
16.56 7,011,815,968 1,161,323,117 14.91 6,596,349,361 983,433,076 13.91
16.84 5,342,921,891 899,924,074 15.76 4,212,952,653 663,809,597 15.22
17.02 7,285,983,948 1,239,966,805 16.03 6,156,267,764 986,800,514 15.67
16.56 4,469,522,572 739,977,094 15.30 4,055,034,935 620,269,256 15.16
16.67 5,322,708,922 887,475,991 14.40 5,738,803,710 826,229,817 14.62
16.23 4,434,287,182 719,713,376 13.54 5,660,697,791 766,689,640 13.66
15.05 5,870,649,302 883,280,822 12.15 7,501,068,110 911,666,637 12.38
14.34 5,017,947,335 719,416,193 10.89 8,378,591,843 912,461,740 10.99
13.52 4,614,271,230 623,676,284 10.05 6,210,503,568 624,156,238 9.66
13.18 5,487,567,891 723,421,025 9.24 8,667,691,767 800,606,172 9.12
12.73 4,398,718,566 559,839,008 8.88 5,686,829,678 505,063,280 8.47
12.66 6,703,683,902 848,488,426 8.69 8,209,198,461 713,050,314 8.34
12.49 4,865,822,847 607,781,785 8.48 6,298,682,794 534,154,632 7.87
12.72 4,429,313,335 563,363,430 7.84 6,946,088,053 544,877,376 7.58
11.82 7,125,073,873 842,173,429 7.56 9,895,544,911 748,388,233 7.00
11.89 4,434,958,514 527,359,013 7.38 6,095,124,404 449,739,441 7.11
11.84 5,161,528,040 611,363,257 7.39 7,237,737,200 534,519,504 6.71
11.58 5,945,284,303 688,655,993 7.15 8,140,115,399 582,124,889 6.55
11.74 4,967,145,079 583,309,085 7.13 6,856,386,205 488,788,750 6.62
11.65 4,635,742,139 540,115,471 6.84 7,501,295,522 513,269,744 6.39
10.87 6,946,235,656 755,135,474 6.65 9,884,602,478 657,158,047 6.26
10.99 5,075,713,861 557,732,838 6.78 6,840,027,194 463,905,751 6.11
10.72 5,017,204,783 537,999,724 6.65 6,493,122,751 431,929,790 6.15
10.76 7,539,422,148 811,022,252 6.64 10,342,597,137 686,592,690 5.86
10.58 5,826,081,299 616,644,158 6.62 6,036,888,121 399,578,428 5.85
10.74 5,789,023,379 621,810,787 6.44 7,506,565,906 483,666,724 5.93
10.48 9,745,632,022 1,021,026,505 6.54 12,244,384,474 801,316,217 5.73
10.38 2,624,802,623 272,507,765 6.56 3,165,166,383 207,689,883 5.62
9.68 3,284,615,320 318,095,015 6.58 3,609,338,761 237,535,673 5.55
10.03 4,160,156,563 417,279,977 6.79 4,488,697,619 304,867,954 5.86
10.05 3,074,264,122 309,030,117 7.17 3,711,942,304 266,077,351 5.66
9.95 3,625,209,754 360,739,362 7.17 3,728,276,269 267,438,982 6.13
10.51 4,737,749,070 497,742,080 7.59 5,012,585,461 380,676,207 6.32
10.61 3,512,170,684 372,682,114 7.83 3,976,840,981 311,314,965 6.62
11.09 4,396,740,503 487,818,221 8.29 4,773,844,798 395,736,805 7.48
11.19 3,746,639,013 419,179,569 8.32 4,213,121,671 350,464,195 7.65
11.30 3,530,923,645 398,990,380 8.53 3,886,746,091 331,452,402 7.95
11.54 4,663,785,646 538,179,856 8.81 5,834,489,595 514,104,328 8.07
11.59 4,910,055,633 569,103,017 8.98 5,460,289,129 490,416,426 8.17
12.19 2,768,101,698 337,405,327 9.04 3,074,774,740 278,106,183 8.37
12.11 4,663,516,431 564,562,190 9.12 5,267,225,260 480,196,837 8.53
12.07 3,821,081,413 461,262,713 9.46 3,962,809,272 374,716,150 8.58
12.28 3,220,694,092 395,661,070 9.25 4,309,808,692 398,558,020 8.19
12.29 4,588,478,805 564,134,446 9.41 4,892,085,397 460,474,548 8.29
12.18 4,178,337,042 508,717,257 9.30 5,086,811,746 473,183,865 8.27
11.99 3,525,262,786 422,810,772 9.30 5,361,350,910 498,704,889 8.47
12.27 4,950,112,902 607,345,938 9.14 4,627,855,871 422,782,238 8.69
11.85 5,147,956,239 610,284,133 8.82 5,144,005,882 453,600,993 8.47
12.03 5,061,440,530 609,115,057 8.57 5,086,453,955 435,943,169 8.34
11.83 4,323,897,139 511,643,867 8.51 5,489,106,965 466,911,946 8.26
11.55 5,326,276,240 614,982,585 8.58 6,392,045,084 548,198,865 8.29
11.52 3,918,040,657 451,518,520 8.39 4,667,455,088 391,525,362 8.06
11.00 4,387,110,118 482,775,287 8.09 4,921,193,922 398,082,886 8.04
10.94 3,610,561,647 394,951,726 7.76 4,937,717,275 383,194,097 7.39
10.41 4,028,506,062 419,517,883 6.91 5,345,108,815 369,090,470 7.41
9.79 5,586,759,398 546,892,623 6.90 7,957,391,805 549,206,293 7.40
9.77 4,781,041,218 467,247,349 6.78 6,816,128,914 462,449,316 7.06
10.12 4,922,561,120 498,277,454 7.22 6,154,205,334 444,517,620 7.19
10.55 3,674,976,965 387,820,028 7.08 5,833,735,831 412,976,644 7.16
10.47 4,047,103,029 423,632,120 7.44 5,002,546,636 371,977,756 7.15
10.36 5,129,425,117 531,388,483 7.21 6,558,213,583 472,541,824 7.13
10.21 4,137,530,150 422,241,115 7.07 4,813,714,376 340,323,606 6.85
9.80 5,153,877,765 504,991,087 6.96 9,256,038,779 644,239,579 6.76
10.41 3,934,342,763 409,735,017 7.05 4,781,255,709 336,924,282 7.13
9.90 4,589,778,821 454,513,378 7.00 5,823,708,610 407,827,836 6.95
10.15 3,874,564,824 393,078,904 6.96 5,794,104,437 403,142,396 7.10
10.00 4,978,836,917 498,072,294 6.86 7,449,261,867 511,100,057 6.81
10.02 4,496,053,693 450,400,548 6.94 6,787,137,632 470,829,543 6.93
10.07 4,368,317,636 440,071,080 6.98 6,875,586,380 479,933,339 6.90
10.34 4,734,032,431 489,683,967 7.40 5,764,201,750 426,741,321 7.26
10.29 3,973,181,233 408,725,295 7.33 5,097,068,786 373,561,726 7.69
10.49 3,908,519,070 409,952,013 7.33 4,831,837,071 354,413,795 7.57
10.70 5,470,227,308 585,411,156 7.53 7,654,513,863 576,356,786 7.46
10.67 4,521,663,678 482,685,816 7.54 6,400,894,428 482,762,289 7.43
10.38 6,639,953,640 689,084,915 7.75 9,514,751,790 737,701,285 7.35
10.92 3,608,756,957 393,935,633 7.77 4,042,948,844 314,023,054 7.40
10.46 4,806,933,686 502,771,859 7.38 5,838,375,952 430,950,423 7.93
11.06 4,253,425,367 470,276,331 7.71 5,861,149,094 451,620,040 8.31
10.77 5,928,141,835 638,691,883 7.78 9,767,227,192 760,195,201 8.16
10.90 5,124,904,852 558,754,713 7.66 5,460,094,732 418,406,446 8.38
10.82 4,857,421,688 525,628,172 7.50 6,798,113,521 510,097,179 8.15
10.89 5,837,171,569 635,669,882 8.00 6,076,897,433 486,163,106 8.40
10.65 4,645,269,057 494,941,987 7.72 7,494,931,036 578,548,757 8.50
10.87 6,380,792,451 693,701,538 7.78 9,005,798,730 700,520,669 8.55
11.03 5,387,659,556 594,115,464 8.05 5,818,953,786 468,475,432 8.81
11.65 4,746,096,050 553,038,768 8.66 4,916,264,161 425,861,984 9.11
11.86 7,215,053,133 855,890,181 9.37 7,448,677,328 698,230,557 9.69
12.61 4,453,425,049 561,739,841 9.53 4,718,205,426 449,703,846 10.23
12.58 5,979,138,347 752,385,205 10.69 6,015,872,074 642,855,806 10.60
13.51 6,614,235,187 893,774,135 10.61 5,951,603,002 631,552,016 11.38
14.09 5,176,099,025 729,538,961 11.41 4,553,930,806 519,435,284 11.76
14.29 5,331,646,729 761,947,221 11.41 4,355,723,739 497,146,669 12.07
14.24 7,152,581,367 1,018,748,460 11.69 6,414,552,989 749,672,846 12.09
14.61 4,880,052,828 712,921,215 11.99 3,957,528,423 474,440,313 11.93
14.67 6,425,671,633 942,661,439 12.11 5,925,947,349 717,594,535 12.32
14.51 5,901,413,278 856,333,723 12.00 4,459,049,217 535,272,115 11.84
14.37 5,299,581,906 761,408,189 11.96 3,955,908,197 473,037,117 12.03
14.62 7,073,547,359 1,034,402,043 11.99 4,779,105,372 573,104,499 12.32
14.04 7,191,229,656 1,010,006,675 11.58 6,725,982,675 778,904,447 11.86
14.24 4,136,607,194 589,212,092 11.27 3,728,106,986 420,190,882 12.21
13.79 6,620,571,942 913,263,193 11.37 4,502,097,190 511,807,934 12.02
13.81 7,014,089,839 968,958,522 11.22 5,029,396,646 564,435,150 11.95
13.81 4,924,204,019 679,841,557 10.65 5,233,681,401 557,524,746 11.25
13.40 6,276,286,044 840,788,994 10.09 7,224,870,603 728,814,021 10.66
 12.87 5,630,863,378 724,486,469 9.75 6,406,291,220 624,700,200 10.56
12.69 4,777,895,358 606,329,424 9.47 5,090,240,303 482,066,438 10.26
12.36 6,044,737,644 747,206,678 9.14 7,042,962,072 643,920,386 9.46
12.07 5,780,440,969 697,963,924 8.77 7,238,891,716 634,590,973 9.14
12.25 4,963,198,190 607,941,917 8.78 5,401,704,747 474,465,096 8.77
11.68 7,063,351,751 825,178,659 8.71 7,254,693,912 632,125,159 9.10
11.38 6,517,463,440 741,839,612 8.43 9,360,139,317 789,061,838 8.16
11.59 5,212,931,663 604,278,555 8.28 5,909,898,087 489,512,086 7.98
11.29 5,936,754,380 670,080,410 7.92 7,381,607,072 584,256,174 7.97
### 88,436,010,978 866,722,599,729 80,624,777,228
12.75% 9.30%

nsmisión del Banco Agrario ( agosto 20 de 2013)

3.16%

La estructura de capital viene del periodo

anterior. Por esto para 2018 usamos la de
final de 2017, para 2019 la estructura final
de 2018 y así sucesivamente.
 CREDITO TARJETA CREDITOS DE VIVIENDA en U.V.R. (Puntos)
DE TESORERIA DE CREDITO SOBREGIROS V.I.S. NO V.I.S.
MONTO TASA MONTO TASA MONTO TASA
2,278,527,886 28.20 588,844,587 27.65 3,589,982,448 10.99 43,220,734 13.59
1,856,008,254 28.12 440,197,419 27.37 3,311,756,115 10.99 32,140,445 13.51
2,171,037,603 28.25 582,101,527 27.43 4,176,834,864 10.98 46,460,188 13.55
1,870,140,997 28.74 448,879,365 27.76 3,293,190,424 11.00 37,962,150 13.50
1,906,619,713 29.11 447,079,595 27.82 3,429,406,017 11.00 45,864,988 13.56
2,671,308,122 29.42 555,356,955 27.78 4,231,222,747 11.00 53,478,111 13.54
2,401,052,738 28.94 455,639,834 27.32 3,465,284,112 11.00 46,164,981 13.59
2,361,465,694 28.84 551,515,962 26.99 3,588,933,052 11.00 48,504,304 13.61
2,546,285,034 28.82 518,810,309 27.42 3,507,383,323 11.00 48,038,460 13.51
2,233,994,939 28.99 415,520,434 27.83 3,610,770,597 11.00 54,670,253 13.60
1,984,739,571 28.68 420,092,447 27.10 3,663,613,949 10.98 46,249,612 13.62
3,736,444,316 28.81 559,872,344 27.90 4,532,992,429 11.00 55,635,227 13.56
2,725,992,569 29.01 481,764,988 28.08 4,015,882,338 11.00 54,752,970 13.52
3,342,985,214 28.19 493,430,335 27.26 3,997,258,046 10.91 45,265,274 13.45
3,709,667,013 28.60 648,914,154 27.62 4,630,129,745 10.95 60,579,143 13.39
3,797,950,428 29.00 634,030,196 28.07 4,533,042,623 10.91 57,909,811 13.35
3,192,013,982 29.40 488,135,402 28.16 4,015,874,346 10.97 42,287,273 13.34
3,635,874,398 29.47 606,384,493 28.35 4,890,907,674 10.93 55,996,224 13.49
2,559,695,661 29.04 512,403,303 27.79 4,202,226,820 10.91 43,110,308 13.29
3,293,972,948 28.88 803,905,055 28.91 3,405,165,607 10.90 48,721,844 13.30
2,606,739,974 28.82 502,921,873 28.61 2,640,089,437 10.87 42,959,891 13.31
2,351,757,120 29.08 512,235,653 28.64 3,007,845,643 10.88 49,044,318 13.31
3,065,405,234 29.10 650,033,290 28.78 3,877,110,699 10.90 51,109,971 13.32
2,553,671,011 28.87 540,240,937 28.91 2,936,426,790 10.85 38,390,481 13.05
2,718,216,777 28.91 556,698,464 28.55 3,146,236,483 10.78 39,866,630 12.69
3,710,288,412 28.94 716,674,773 28.56 3,700,956,768 10.77 52,269,157 12.27
2,917,922,539 28.73 566,540,090 28.19 2,857,218,158 10.60 38,613,122 11.74
2,971,798,770 28.37 560,767,661 28.16 2,929,029,612 10.69 41,453,610 11.64
3,493,142,384 28.54 753,986,614 28.31 3,884,007,159 10.64 64,423,357 11.80
2,865,923,655 28.12 619,512,590 27.39 3,116,572,860 10.46 48,450,932 11.62
3,177,419,244 28.70 618,136,431 28.24 3,162,593,884 10.52 42,616,133 11.70
3,722,685,099 28.18 961,471,295 27.66 4,168,513,262 10.51 68,995,208 11.60
2,357,837,285 28.29 596,356,388 27.55 2,950,347,505 10.64 41,650,304 11.54
2,491,849,293 28.41 640,510,545 27.43 3,529,888,943 10.55 51,757,388 11.80
3,465,552,810 27.64 757,339,001 27.00 4,381,693,918 10.55 54,157,714 11.47
3,406,039,504 28.16 655,170,608 26.57 3,759,312,283 10.62 51,412,003 11.45
3,328,163,557 27.66 730,583,597 26.43 3,748,090,634 10.60 46,524,206 11.44
4,351,523,928 27.66 880,779,604 26.34 4,747,971,818 10.53 64,683,223 11.05
2,635,705,818 27.29 703,706,562 26.01 3,563,744,062 10.59 41,616,753 10.76
3,343,151,965 26.72 868,551,719 25.53 4,383,785,017 10.52 50,572,003 10.53
2,516,603,555 26.83 729,675,075 25.76 3,804,430,409 10.33 38,510,097 10.06
3,167,746,815 26.46 765,885,403 25.16 3,990,067,352 9.76 39,227,218 10.29
3,684,335,919 26.02 1,013,636,693 24.82 5,180,857,190 9.81 53,460,722 9.59
2,939,852,999 25.19 937,974,070 24.67 3,851,198,096 9.65 52,149,472 10.01
2,711,513,788 25.44 754,160,012 24.43 3,548,447,005 9.73 35,810,057 9.91
2,924,685,521 25.77 768,362,558 24.43 4,226,721,698 9.87 48,757,765 9.85
3,319,375,017 25.12 1,004,403,759 24.18 5,066,261,000 9.61 57,826,206 8.98
3,725,084,220 24.21 834,496,098 23.82 4,428,331,634 8.81 41,167,326 8.20
4,203,676,655 23.22 1,104,734,190 22.84 5,906,523,888 8.22 55,136,861 7.72
3,875,897,553 22.50 864,240,532 22.46 4,976,341,377 8.13 48,711,513 7.57
4,441,672,730 21.90 891,437,906 21.83 4,852,572,090 7.80 47,480,906 7.47
4,690,059,284 21.87 1,135,848,568 21.79 5,907,779,021 7.78 58,550,806 7.34
3,997,189,687 21.93 950,972,049 21.63 5,093,036,829 7.25 51,581,122 7.22
4,238,231,793 21.97 932,999,531 21.70 5,555,797,848 7.74 37,276,721 7.24
4,564,184,364 22.04 1,233,151,143 21.67 7,030,761,515 7.57 75,093,947 7.27
4,053,490,357 22.01 1,190,741,846 21.50 5,801,335,091 7.63 60,600,367 7.10
4,113,589,995 20.42 1,185,273,270 19.77 6,541,516,181 8.08 66,991,695 7.65
3,689,489,795 20.26 982,338,572 19.52 6,109,067,028 8.54 50,343,000 7.65
3,723,818,509 20.24 1,052,512,926 19.43 6,137,799,405 8.72 60,830,352 7.85
3,774,414,700 22.83 1,018,173,585 23.32 5,822,152,513 8.66 44,754,706 7.54
4,894,242,136 23.07 1,328,611,879 23.54 8,085,349,224 8.98 60,120,987 8.11
3,997,934,913 24.32 1,127,382,929 23.53 6,642,626,299 9.05 45,326,800 8.24
3,798,807,607 27.01 1,086,382,023 26.36 6,617,205,679 9.11 43,033,487 8.46
4,306,920,525 27.60 1,361,690,616 26.59 8,064,875,078 9.54 61,295,327 8.80
3,918,036,031 27.64 1,118,325,180 27.06 7,073,065,276 9.63 49,953,789 9.11
5,184,852,973 30.05 1,326,489,726 29.94 8,186,413,248 9.63 58,721,688 9.31
4,895,609,352 30.32 1,168,619,096 30.05 6,740,885,703 9.97 43,958,541 9.54
5,581,022,762 30.41 1,366,663,565 30.02 7,187,821,080 9.97 50,008,648 9.49
6,231,686,051 31.60 1,326,508,767 29.88 7,724,718,787 9.96 46,144,353 9.61
5,798,700,378 31.57 1,082,291,378 30.53 6,908,285,351 9.71 52,808,852 9.61
5,127,039,761 31.64 1,081,049,145 30.78 5,602,794,034 9.55 42,841,893 9.44
4,762,041,918 32.08 1,370,580,199 29.59 7,466,170,051 10.03 51,079,570 9.80
3,467,986,013 31.95 1,121,349,774 30.35 5,877,367,718 10.20 47,314,090 9.84
4,463,915,265 31.99 1,139,114,959 30.28 6,082,433,977 10.24 40,370,312 9.68
4,841,849,704 31.71 1,434,353,447 30.21 7,245,802,175 10.06 44,353,564 9.38
3,302,332,390 31.68 1,089,987,444 29.77 6,009,677,175 9.96 33,121,794 9.50
3,709,491,870 31.69 1,209,989,196 29.90 6,020,687,556 10.06 31,984,141 9.15
5,158,854,955 31.05 1,460,833,500 29.43 7,646,429,483 9.92 50,787,622 8.75
3,311,158,445 30.98 1,265,138,320 29.14 6,037,677,854 10.00 38,035,198 9.34
3,945,814,388 30.90 1,673,915,999 28.16 7,228,717,019 9.92 40,971,850 9.18
2,793,839,683 30.23 1,160,857,244 27.31 5,779,689,257 10.17 39,864,114 9.23
2,606,811,194 30.23 1,181,336,470 27.68 5,915,272,335 10.04 39,134,945 9.01
3,352,561,323 30.15 1,166,981,726 27.89 5,816,418,027 9.83 28,643,167 8.73
4,883,681,087 29.93 1,434,076,085 27.53 6,861,793,349 9.86 39,374,722 8.39
4,486,239,302 29.72 1,209,303,667 27.48 6,045,850,475 9.16 33,558,225 7.98
5,346,580,818 29.82 1,182,046,696 27.15 5,663,673,882 8.75 30,836,043 7.59
5,521,206,496 27.58 1,530,321,761 25.62 6,959,975,526 9.69 37,690,859 7.96
5,098,281,193 27.53 1,208,294,426 25.57 5,388,169,180 9.44 29,252,473 8.24
5,508,967,766 27.26 1,598,142,106 25.34 7,241,244,256 8.97 54,677,112 8.31
3,939,478,215 25.53 1,238,491,313 24.16 5,572,722,292 8.73 38,898,178 7.94
4,245,588,064 25.47 1,269,415,351 24.40 5,709,268,324 8.60 41,726,277 8.32
5,108,433,054 25.45 1,783,360,744 24.02 6,986,684,004 8.80 51,776,252 7.76
4,096,527,108 23.91 1,316,176,634 22.61 5,162,446,742 9.20 37,386,949 8.15
4,214,013,908 23.88 1,287,026,709 22.78 6,106,113,964 8.58 48,174,883 8.24
4,516,647,028 23.82 1,559,130,492 22.70 6,665,061,394 9.05 42,369,260 8.37
3,882,113,740 22.63 1,356,083,933 21.34 5,985,105,765 8.89 36,188,399 7.81
3,786,616,837 22.60 1,345,582,076 21.52 6,032,774,194 8.83 37,890,484 8.24
4,894,408,690 22.51 1,721,056,367 21.46 7,447,366,169 8.18 53,567,469 7.78
3,480,239,145 22.03 1,357,076,807 20.89 5,908,193,386 8.29 37,411,728 7.61
3,594,357,917 21.96 1,436,818,227 21.06 6,274,418,324 7.64 42,761,968 7.79
5,549,348,425 21.82 1,832,934,873 21.01 8,175,032,598 7.90 52,817,918 7.65
4,271,303,874 20.95 1,479,438,531 20.17 7,061,624,937 7.91 37,683,607 7.67
3,985,159,414 21.00 1,550,092,485 20.18 7,126,243,403 7.07 50,005,200 7.81
5,805,305,416 21.02 2,200,233,091 20.38 9,661,454,362 7.83 47,963,150 7.49
1,379,201,609 22.83 1,455,705,777 21.69 6,592,077,906 7.87 30,501,997 7.10
1,371,286,600 22.88 1,497,828,129 21.71 8,548,638,247 7.79 45,289,857 7.31
1,416,356,405 22.85 1,951,819,480 21.79 10,833,681,721 7.56 62,425,703 7.42
1,118,158,958 25.75 1,592,931,107 23.43 8,056,818,814 7.80 47,303,778 7.19
906,957,442 25.76 1,739,194,469 24.08 9,034,748,607 7.41 46,070,990 7.04
1,328,426,366 25.84 2,274,516,114 23.82 10,888,225,905 7.14 76,063,552 6.98
1,171,923,098 27.00 1,772,794,534 24.41 8,491,319,902 7.16 49,134,756 7.22
1,024,411,840 27.03 2,259,866,926 25.40 10,324,177,295 7.66 51,705,470 6.99
954,402,206 26.95 1,831,252,047 24.58 9,485,807,155 7.26 67,238,667 7.20
887,141,699 27.99 1,806,889,582 25.84 9,067,766,971 7.37 56,436,394 7.13
2,039,412,235 28.22 2,398,498,599 25.36 12,085,693,411 7.57 83,056,443 7.01
1,471,694,420 28.31 2,219,097,854 26.00 9,003,675,738 7.46 70,627,745 7.37
886,526,160 29.17 1,765,588,732 25.97 8,746,416,368 7.87 44,172,941 7.64
1,347,780,975 29.12 2,298,404,458 26.47 12,805,327,343 7.79 80,904,032 7.50
944,170,126 29.05 1,916,781,615 24.25 6,031,395,333 7.87 70,309,013 7.48
1,075,391,675 29.63 1,912,822,757 24.12 5,734,292,457 8.18 59,094,238 7.86
1,461,464,796 29.79 2,521,056,138 24.48 7,333,713,602 8.26 90,562,864 7.45
1,419,613,620 29.72 2,074,570,040 23.65 6,155,281,597 7.82 56,176,022 7.11
1,256,570,242 30.40 2,030,215,938 23.02 6,662,591,575 8.07 64,658,914 7.62
1,802,994,823 30.46 2,516,970,680 25.51 7,664,046,604 8.52 97,639,871 7.58
1,174,254,737 30.43 2,051,152,003 23.74 6,300,405,045 8.61 77,902,908 7.49
1,538,138,542 30.31 2,551,770,992 25.48 6,908,280,439 7.89 97,866,519 7.47
1,399,776,095 30.30 2,183,325,546 24.94 5,608,024,207 7.85 94,588,185 7.67
1,271,956,147 30.55 2,454,537,252 25.92 5,587,478,956 8.27 95,183,348 7.33
1,071,637,804 30.22 2,418,488,032 24.33 6,179,637,064 8.68 72,534,559 7.60
950,589,501 29.91 2,069,719,881 24.80 5,613,593,451 8.85 75,347,489 7.93
1,352,824,510 29.77 1,986,526,182 23.98 5,507,698,186 8.33 80,437,037 7.71
941,872,547 29.44 2,102,733,644 25.10 5,701,486,533 7.92 107,876,845 7.37
1,289,136,425 29.15 2,644,299,411 24.60 6,935,934,191 7.70 116,519,007 7.17
982,535,695 29.37 2,204,268,792 24.58 5,948,590,024 7.43 113,456,878 7.09
907,194,425 29.02 2,702,939,543 23.36 7,103,410,007 7.59 109,915,700 6.93
950,255,054 29.10 2,138,335,511 24.42 5,015,220,282 7.63 89,426,295 6.98
1,030,600,463 29.11 2,289,144,861 23.79 5,901,814,197 7.55 122,581,914 6.98
1,384,162,507 28.65 2,861,167,472 24.18 6,484,061,258 8.11 120,407,302 7.10
1,010,716,456 28.71 2,397,866,489 23.89 5,169,302,289 7.92 106,349,270 6.96
1,149,881,241 28.89 2,932,338,718 24.64 5,388,356,113 7.74 133,787,896 6.87
986,309,439 28.62 2,772,618,122 24.18 5,187,816,819 8.26 118,661,297 7.09
983,584,282 28.20 2,323,730,110 24.34 4,957,395,106 8.20 115,990,697 7.08
1,242,909,353 28.01 2,331,859,646 23.72 5,508,184,898 7.99 80,032,979 6.84
1,693,626,463 27.73 3,034,381,084 23.69 6,407,288,517 8.16 110,190,835 6.36
967,773,400 28.02 2,530,868,531 22.95 5,770,150,541 8.47 81,662,437 6.62
1,027,550,691 28.01 2,502,990,648 23.48 5,815,591,030 8.04 64,869,388 6.65
1,152,183,958 27.87 3,070,536,251 23.22 6,829,288,953 7.57 86,891,170 6.44
730,686,595 27.45 2,485,171,854 23.52 4,950,844,374 7.63 85,493,378 6.48
1,171,901,835 27.08 2,627,861,635 22.83 5,637,383,288 7.81 68,644,122 6.49
1,252,109,735 26.62 3,328,354,338 23.54 6,863,757,664 7.71 109,424,888 6.47
982,440,617 27.07 2,683,794,085 23.59 5,845,215,393 7.10 130,274,729 6.45
1,380,303,063 27.42 3,633,832,788 23.44 6,127,756,140 7.39 91,734,679 6.10
789,155,190 27.36 2,496,082,724 23.56 5,217,973,571 7.86 87,358,835 6.47
742,910,626 27.16 2,437,635,942 23.38 5,517,063,516 7.57 88,050,124 6.22
632,828,711 26.85 2,562,449,549 22.83 6,102,775,803 7.08 87,992,645 6.06
867,323,189 26.81 3,174,228,706 22.72 7,508,660,053 7.01 141,817,746 6.19
557,744,753 27.33 2,717,952,619 22.79 6,752,271,720 6.71 111,973,630 6.14
630,842,089 27.32 2,776,008,340 23.25 6,229,922,292 6.30 113,657,489 5.77
575,414,759 27.30 3,402,362,912 23.00 6,987,112,254 6.75 149,261,830 5.88
526,565,345 27.06 2,685,695,680 22.73 5,577,662,005 6.65 89,998,076 5.88
795,279,466 27.03 3,407,474,664 22.90 7,437,247,611 7.50 97,188,792 5.96
606,788,701 27.45 2,656,571,270 22.84 5,303,742,302 6.91 102,065,825 5.86
639,948,939 27.62 2,866,456,750 23.59 5,864,197,542 6.44 86,600,385 5.67
832,330,727 27.63 3,884,598,312 24.18 6,662,598,049 6.81 111,156,359 5.60
468,053,444 28.05 2,730,192,361 24.16 5,996,088,922 5.96 73,043,046 5.73
481,074,252 27.89 2,682,639,863 24.25 6,675,101,294 8.07 153,699,148 5.42
627,972,653 28.09 3,418,202,752 23.98 8,140,200,383 7.12 114,369,703 5.81
545,900,835 29.00 2,977,089,862 24.92 7,012,296,422 7.75 103,917,657 5.18
547,405,449 29.20 3,072,300,640 24.29 6,402,426,269 7.88 90,896,959 5.45
675,990,184 29.14 3,931,600,173 24.41 7,930,536,312 7.23 119,504,178 5.29
476,840,817 29.96 3,120,727,325 24.60 6,258,157,459 7.19 86,955,720 5.32
783,755,871 30.23 3,843,493,863 25.91 7,501,101,418 7.30 109,482,838 5.39
545,990,016 30.35 3,171,430,051 25.13 6,614,402,297 7.46 100,195,726 5.44
447,325,334 31.10 3,166,671,509 25.70 6,296,655,582 7.64 99,151,207 5.88
501,902,427 31.13 4,240,840,741 26.08 7,991,063,784 8.07 138,025,096 6.27
447,826,357 31.08 3,610,393,038 26.65 5,642,495,572 7.60 117,989,743 6.25
225,275,443 31.41 3,033,992,613 25.46 5,515,276,146 6.78 64,424,008 6.15
348,278,264 31.29 3,109,236,217 26.09 6,331,676,215 7.59 150,204,628 5.94
484,671,878 31.24 3,922,534,207 26.45 8,189,116,436 7.07 202,741,467 6.54
342,018,472 31.33 3,294,699,871 25.56 6,684,153,427 6.93 139,119,305 6.29
585,891,049 31.19 4,335,521,648 25.67 8,822,385,041 6.85 192,478,796 6.26
520,632,878 30.86 3,462,596,942 25.29 7,049,950,723 7.21 125,365,482 6.20
302,404,313 30.80 3,404,231,257 25.00 6,646,777,625 7.02 104,875,460 6.26
417,744,235 30.60 4,253,855,355 25.89 7,413,831,896 7.04 199,777,046 6.65
368,833,179 29.94 3,386,441,009 24.47 6,516,924,507 7.11 146,041,053 6.34
296,882,932 29.43 3,412,643,459 24.64 5,890,846,208 6.91 159,321,316 5.90
478,678,438 29.05 4,779,833,892 24.07 7,701,153,283 6.88 247,311,053 5.78
520,852,757 28.50 3,844,528,665 25.07 5,680,822,807 6.45 257,225,201 5.72
397,955,784 29.02 4,282,918,224 23.76 7,064,674,723 5.63 125,838,241 5.81
465,484,919 29.21 3,432,871,456 24.56 6,310,117,265 6.78 179,969,982 5.82
A en U.V.R. (Puntos) CREDITOS DE VIVIENDA en Pesos (T.E.A.) TOTAL
DESEMBOLSO
NO V.I.S. V.I.S. NO V.I.S. S
MONTO TASA MONTO TASA MONTO MONTO
53,008,551 10.62 417,408 16.02 2,446,099 8,596,252,873
39,654,082 11.13 60,000 16.20 1,384,472 7,241,370,360
47,252,524 11.60 120,800 15.75 1,817,281 9,071,919,962
38,838,102 16.81 166,400 16.10 950,705 7,369,531,796
36,524,369 16.26 204,200 16.08 602,414 7,629,920,772
54,076,180 16.81 152,750 16.31 904,131 9,686,122,863
40,457,636 16.08 45,500 16.08 1,219,386 8,111,885,517
49,396,410 16.08 67,700 16.08 1,275,422 9,109,496,151
43,632,426 16.08 49,000 16.08 1,415,016 8,956,531,401
30,201,658 16.08 41,200 13.74 11,598,879 8,429,695,191
42,670,043 16.08 149,400 16.08 1,148,078 8,146,016,771
56,549,385 16.08 56,650 16.12 1,057,754 11,443,351,241
58,247,477 16.08 53,400 16.08 1,430,343 9,221,903,211
53,186,060 16.08 53,500 16.08 1,410,657 10,294,463,473
66,123,678 16.08 97,900 17.97 2,799,006 11,659,556,064
79,053,546 16.08 62,200 18.88 4,360,675 11,772,264,078
56,389,404 16.08 186,350 19.91 5,614,942 9,999,234,865
80,243,256 16.08 60,846 19.89 9,013,321 12,351,493,574
59,581,130 16.08 334,306 20.19 6,584,203 9,831,780,274
87,242,763 16.08 71,900 19.51 8,010,287 11,416,473,731
59,144,912 16.08 167,650 18.86 5,900,785 8,067,734,160
74,609,544 16.08 59,050 19.92 7,269,794 8,667,190,795
86,890,221 16.08 1,302,607 20.14 9,890,817 11,158,737,731
74,215,302 16.08 760,246 20.19 6,898,403 8,514,342,702
70,790,443 16.08 1,763,787 19.91 7,914,963 9,022,226,973
100,193,981 16.08 2,567,116 19.37 13,254,305 12,075,613,784
77,011,059 16.08 1,305,323 19.20 10,884,601 9,194,827,963
79,393,568 16.08 526,581 18.99 8,922,459 9,313,212,858
109,341,170 16.08 1,194,663 19.05 22,015,563 12,072,607,447
81,750,424 16.08 658,300 19.14 16,255,747 9,620,130,604
71,930,884 16.23 1,035,046 19.06 15,831,723 10,371,664,152
113,882,747 16.08 1,276,202 19.03 27,314,240 14,039,145,978
77,347,917 16.08 785,886 18.92 17,525,435 8,276,751,683
74,999,533 16.08 549,203 18.96 21,526,311 9,736,647,924
87,820,218 16.08 884,206 18.72 31,407,297 12,645,385,098
73,606,050 16.08 877,430 18.72 26,455,165 11,126,985,993
62,193,643 16.02 109,550 18.70 23,410,662 11,046,720,154
97,528,330 16.01 30,240 18.65 37,393,823 14,580,994,971
82,256,461 15.83 115,850 18.60 30,159,068 9,863,741,690
94,411,817 15.84 100,350 18.43 43,975,810 12,893,244,826
66,872,504 15.26 433,269 18.47 38,933,942 10,888,528,061
69,264,607 15.12 684,236 18.44 32,658,142 11,801,782,849
115,836,894 13.30 1,372,083 18.40 57,494,814 15,098,805,140
104,816,138 12.31 2,223,535 18.42 51,852,769 12,816,517,762
59,019,903 13.25 578,639 18.14 32,233,428 10,001,318,364
76,957,628 14.58 1,107,372 17.79 45,930,859 12,195,728,179
102,225,886 12.92 3,431,596 16.75 64,447,970 14,879,084,506
72,372,796 11.96 3,158,918 15.39 54,260,512 13,272,407,113
96,421,573 13.48 8,115,085 15.40 111,657,208 17,887,374,451
80,878,997 13.27 19,240,424 14.92 134,428,414 16,624,236,492
68,781,801 13.22 27,235,023 14.49 140,750,944 15,895,313,797
91,341,297 13.23 40,089,403 14.30 220,784,727 19,110,986,008
101,478,163 13.20 40,659,866 14.02 209,952,920 16,337,603,514
72,454,795 13.21 35,024,671 13.80 182,740,948 16,746,969,938
146,824,939 13.30 53,855,808 14.04 268,280,095 21,988,876,331
145,916,754 13.28 44,768,785 13.91 221,909,019 19,000,241,622
126,047,295 13.22 56,823,365 13.76 254,408,808 19,194,750,272
77,921,199 13.65 48,937,069 13.93 201,721,879 18,441,503,582
103,258,183 13.96 49,344,945 14.19 212,638,643 18,634,447,214
82,348,179 14.00 42,323,082 14.10 174,063,114 16,835,827,665
107,805,009 14.59 63,961,434 14.80 278,571,053 23,290,588,786
98,965,676 15.14 55,012,637 15.40 211,820,851 18,655,952,970
75,623,612 15.30 46,706,160 15.34 175,555,722 17,494,530,294
117,562,519 15.50 68,979,791 15.82 268,369,413 22,596,168,149
115,103,204 15.40 50,350,404 15.74 208,217,305 19,784,516,678
134,786,357 15.25 60,388,950 15.69 249,155,142 24,135,521,148
106,037,558 15.43 48,038,592 15.90 205,173,903 20,887,269,829
149,394,807 15.65 56,414,750 15.91 201,330,454 23,358,606,905
117,446,891 15.74 52,531,727 16.04 187,638,096 23,378,545,002
123,161,972 15.93 55,134,461 16.29 211,247,577 23,340,617,267
131,006,869 16.01 39,276,394 16.34 161,251,666 20,684,103,595
183,271,697 16.07 72,851,235 16.52 274,599,435 25,959,980,864
124,331,205 16.20 57,809,870 16.68 220,562,372 20,616,410,116
152,445,243 16.17 56,759,524 16.53 233,793,524 22,679,669,792
167,538,073 16.27 65,808,434 16.56 295,868,085 26,150,001,402
133,659,722 16.62 49,927,267 17.01 208,560,566 20,739,429,737
143,128,697 16.86 48,286,848 17.04 199,960,920 21,933,354,741
206,722,850 16.98 76,570,755 17.05 308,480,211 30,436,110,466
115,039,702 16.92 50,025,649 17.12 207,579,583 21,895,829,798
137,506,472 17.07 49,092,287 17.24 198,666,874 28,150,523,732
114,622,926 17.00 46,342,911 17.24 179,679,595 19,642,633,628
130,909,337 16.70 44,451,610 16.83 207,984,887 22,547,627,737
98,153,666 16.54 42,095,182 16.34 170,116,791 21,904,786,877
138,262,721 16.33 59,734,523 16.32 266,121,636 28,599,693,447
100,327,865 15.87 64,411,294 15.65 205,833,221 26,857,004,307
122,819,409 15.22 43,271,154 14.92 187,583,144 24,699,885,834
152,030,340 14.95 69,637,414 14.66 331,860,933 30,599,321,858
106,290,061 14.44 49,177,392 14.56 225,402,115 23,493,615,621
145,596,404 14.17 79,447,212 14.41 423,272,338 32,010,350,004
121,841,260 14.03 66,136,342 14.32 331,925,139 24,076,872,504
83,659,422 13.92 54,406,698 14.27 271,930,193 24,458,136,387
151,629,530 13.53 88,451,387 13.98 443,474,354 33,434,429,716
75,801,988 13.04 64,752,763 13.66 276,334,681 22,821,892,043
101,972,946 12.91 72,214,222 13.68 329,947,608 26,268,344,854
109,638,260 12.94 86,809,335 13.64 392,584,465 29,502,006,755
123,530,450 12.77 82,071,403 13.62 355,963,454 25,613,647,434
90,110,512 12.75 77,107,165 13.35 314,259,212 25,582,086,239
135,087,747 12.62 98,294,218 13.06 475,502,630 34,052,200,244
110,835,867 12.81 81,896,731 13.07 376,317,289 25,146,218,158
103,237,368 12.83 75,827,425 13.03 314,234,171 25,128,242,738
160,734,532 12.81 109,896,632 12.97 557,234,244 37,230,361,099
115,280,915 12.82 83,119,107 12.86 365,960,704 27,348,637,311
85,337,425 12.77 74,573,954 12.83 297,208,455 28,539,076,624
164,590,692 12.87 124,623,224 12.93 533,615,814 43,227,063,972
65,066,929 12.91 69,262,575 12.81 297,088,708 17,109,134,765
100,796,469 13.06 91,719,902 12.85 361,544,171 21,065,742,932
121,188,713 13.09 123,721,949 12.99 504,399,650 26,704,465,431
87,191,136 12.76 87,285,277 12.95 385,213,590 20,555,961,360
105,414,367 12.67 90,439,658 12.77 402,620,196 22,398,884,692
149,976,100 12.76 120,657,395 12.83 633,265,359 28,747,232,109
99,193,481 13.09 97,814,512 13.10 414,014,365 22,061,944,791
135,245,888 13.19 120,939,823 13.03 548,543,899 26,711,849,083
121,512,941 13.40 105,536,260 13.24 458,656,762 23,739,307,874
110,351,283 13.48 92,832,034 13.31 395,671,671 22,411,910,167
158,788,279 13.52 122,148,840 13.12 597,349,845 31,415,383,488
144,403,386 13.23 117,858,542 12.88 468,545,388 26,643,679,471
84,618,491 13.57 82,139,170 13.36 302,361,862 19,642,537,798
153,832,967 13.66 117,016,377 13.49 579,591,750 31,182,061,058
119,818,149 13.64 93,951,679 13.50 458,415,006 20,509,412,325
106,046,263 13.64 75,965,122 13.33 353,378,164 19,554,783,048
186,261,008 13.59 123,815,485 13.32 633,160,388 25,464,540,543
166,529,488 13.52 58,969,014 13.07 470,389,657 22,626,211,393
117,769,953 13.10 85,011,561 13.01 367,356,783 22,058,878,431
182,913,640 13.51 158,745,723 13.21 649,406,232 26,328,170,036
174,526,530 13.34 110,701,144 13.16 495,880,374 23,862,538,696
209,231,718 13.15 120,833,632 13.02 541,197,784 25,770,640,776
177,401,971 12.95 105,569,014 12.96 462,475,834 23,053,916,191
201,746,179 12.91 115,528,002 12.85 520,900,463 25,051,257,092
153,637,507 12.85 111,955,235 12.55 470,183,491 21,879,958,389
142,666,674 12.75 109,717,502 12.55 478,490,012 21,939,729,509
124,533,421 12.56 97,622,480 12.15 447,474,900 21,268,292,507
189,447,353 12.12 93,309,858 11.98 404,448,352 22,083,051,242
228,733,630 11.61 146,553,174 11.07 773,505,271 29,842,683,517
208,524,878 11.49 106,217,647 10.80 602,207,927 25,098,314,019
220,846,716 11.73 139,448,845 10.76 749,735,936 27,249,743,121
130,452,744 11.80 118,323,548 10.81 617,062,876 21,888,056,696
165,965,590 11.94 118,587,899 10.80 609,262,373 22,644,781,624
187,175,707 11.98 164,396,833 10.80 918,318,973 28,252,868,062
142,283,663 11.98 125,856,456 10.76 704,069,711 22,029,221,677
170,628,881 11.99 127,421,379 10.78 661,733,768 28,218,827,173
121,223,360 12.00 146,090,780 10.90 694,592,915 21,984,737,272
154,399,099 12.05 129,831,508 10.95 660,922,604 23,197,600,523
115,587,925 12.07 94,250,037 10.94 515,152,367 22,872,082,492
186,904,402 12.13 144,852,315 11.07 828,816,750 29,329,647,221
158,934,867 12.12 142,840,675 11.00 697,393,231 25,698,292,652
152,992,589 12.14 125,707,643 11.19 614,966,854 25,121,011,493
187,713,012 12.10 115,371,621 11.23 729,673,106 27,400,984,268
141,098,658 12.19 120,650,399 11.15 602,755,826 21,974,766,614
169,720,255 11.98 108,656,934 11.06 515,749,886 22,875,510,288
299,143,815 11.89 146,982,747 11.09 899,291,832 31,199,733,198
178,726,484 11.91 112,651,324 10.95 608,485,729 25,294,188,223
260,563,137 11.86 117,661,163 10.95 788,036,681 33,129,424,827
164,402,661 11.92 114,024,107 10.91 698,008,199 20,394,197,455
195,451,519 11.99 116,610,351 10.66 849,378,231 24,791,603,518
176,639,728 12.00 90,562,208 10.91 631,547,688 24,302,073,248
243,357,678 12.00 159,539,400 10.87 1,107,121,298 34,106,802,441
227,717,059 12.03 108,999,753 10.92 891,700,518 26,366,327,077
238,299,854 12.02 95,334,331 10.85 723,588,571 26,463,252,101
306,396,613 11.91 147,111,612 10.70 1,173,929,841 30,006,053,006
261,127,074 11.88 97,526,329 10.73 799,414,913 26,355,810,823
311,554,151 11.88 147,235,451 10.64 1,311,666,512 34,885,698,910
215,355,612 12.00 124,332,080 10.85 938,486,914 25,694,014,059
216,918,685 12.34 105,419,774 10.88 777,139,110 24,251,571,043
307,768,931 12.34 146,406,491 10.99 1,323,352,777 33,034,182,315
163,398,581 12.47 86,422,242 11.36 681,280,726 22,673,481,912
219,502,965 12.61 175,187,547 11.61 663,458,317 27,332,012,678
227,438,051 12.64 149,009,704 11.68 1,018,469,278 31,447,550,582
253,567,279 12.73 137,444,039 11.91 851,215,626 26,528,073,179
226,483,770 12.86 129,074,078 12.09 766,859,437 25,512,437,265
289,519,093 12.89 169,932,896 12.22 1,161,475,908 33,579,666,205
220,897,856 12.85 131,829,980 12.31 794,237,039 24,346,204,569
266,131,334 12.84 169,431,350 12.37 998,049,690 31,540,391,211
210,567,224 12.88 148,921,490 12.46 867,435,072 27,047,346,486
186,973,296 12.91 128,953,685 12.47 780,678,716 24,820,645,759
243,982,087 12.99 193,371,430 12.46 1,210,186,803 32,399,709,497
257,371,555 12.92 163,181,252 12.46 1,087,634,831 29,935,183,589
175,062,461 13.01 55,033,828 12.35 533,858,625 20,698,106,657
275,064,537 12.83 180,057,391 12.48 892,963,496 27,118,968,500
313,197,114 12.97 205,382,367 12.35 1,231,149,428 33,105,845,398
237,865,078 12.86 124,915,385 12.34 829,395,273 26,388,939,931
332,694,905 12.96 168,269,117 12.28 1,032,527,084 34,954,545,227
274,640,660 12.64 148,042,978 11.99 923,747,633 29,443,169,189
211,649,002 12.36 122,302,021 11.59 752,552,650 26,008,560,600
252,618,612 12.13 195,390,643 11.28 1,258,776,462 33,670,167,768
253,548,140 12.06 148,218,182 11.04 1,121,228,548 30,427,245,409
244,031,300 11.95 132,809,878 10.92 926,072,046 26,409,142,604
366,793,264 11.92 241,970,612 10.93 1,534,756,211 36,575,868,766
336,384,295 11.90 236,873,040 10.84 1,303,514,791 32,891,017,843
191,336,019 11.71 78,069,037 10.76 882,058,013 28,876,324,129
279,189,206 11.91 193,881,381 10.80 1,130,355,306 30,898,555,621
4/27/2018 180 1.69%
4/26/2018 177 2.91%
4/25/2018 172 0.00%
4/24/2018 172 0.58%
4/23/2018 171 0.59%
4/20/2018 170 -0.58%
4/19/2018 171 0.00%
4/18/2018 171 -2.84%
4/17/2018 176 1.15%
4/16/2018 174 1.16%
4/13/2018 172 1.18%
4/12/2018 170 -1.73%
4/11/2018 173 -1.14%
4/10/2018 175 0.00%
4/9/2018 175 0.00%
4/6/2018 175 2.94%
4/5/2018 170 -2.86%
4/4/2018 175 -0.57%
4/3/2018 176 -3.83%
4/2/2018 183 0.55%
3/29/2018 182 0.00%
3/28/2018 182 0.00%
3/27/2018 182 0.00%
3/26/2018 182 -1.62%
3/23/2018 185 1.65%
3/22/2018 182 2.82%
3/21/2018 177 -2.21%
3/20/2018 181 0.00%
3/19/2018 181 1.12%
3/16/2018 179 0.00%
3/15/2018 179 -0.56%
3/14/2018 180 0.56%
3/13/2018 179 2.29%
3/12/2018 175 0.57%
3/9/2018 174 -3.33%
3/8/2018 180 0.00%
3/7/2018 180 1.69%
3/6/2018 177 0.00%
3/5/2018 177 -2.21%
3/2/2018 181 -2.69%
3/1/2018 186 3.91%
2/28/2018 179 4.68%
2/27/2018 171 -2.29%
2/26/2018 175 -2.78%
2/23/2018 180 1.12%
2/22/2018 178 2.30%
2/21/2018 174 0.00%
2/20/2018 174 3.57%
2/16/2018 168 -4.55%
2/15/2018 176 -4.86%
2/14/2018 185 -1.60%
2/13/2018 188 2.73%
2/12/2018 183 -4.19%
2/9/2018 191 7.30%
2/8/2018 178 11.25%
2/7/2018 160 -4.76%
2/6/2018 168 -2.33%
2/5/2018 172 8.18%
2/2/2018 159 3.25%
2/1/2018 154 0.00%
1/31/2018 154 0.00%
1/30/2018 154 -0.65%
1/29/2018 155 0.65%
1/26/2018 154 -1.28%
1/25/2018 156 0.65%
1/24/2018 155 -0.64%
1/23/2018 156 0.00%
1/22/2018 156 -1.27%
1/19/2018 158 -0.63%
1/18/2018 159 0.63%
1/17/2018 158 -3.07%
1/16/2018 163 -1.21%
1/15/2018 165 0.00%
1/12/2018 165 -0.60%
1/11/2018 166 0.61%
1/10/2018 165 1.85%
1/9/2018 162 -1.22%
1/8/2018 164 0.00%
1/5/2018 164 -1.20%
1/4/2018 166 -0.60%
1/3/2018 167 -1.18%
1/2/2018 169 -2.87%
12/29/2017 174 0.58%
12/28/2017 173 -1.70%
12/27/2017 176 2.92%
12/26/2017 171 0.59%
12/22/2017 170 1.19%
12/21/2017 168 1.20%
12/20/2017 166 -1.19%
12/19/2017 168 -2.33%
12/18/2017 172 -2.82%
12/15/2017 177 -0.56%
12/14/2017 178 -1.11%
12/13/2017 180 0.56%
12/12/2017 179 1.13%
12/11/2017 177 0.00%
12/8/2017 177 -0.56%
12/7/2017 178 -0.56%
12/6/2017 179 1.70%
12/5/2017 176 -0.56%
12/4/2017 177 -1.12%
12/1/2017 179 1.13%
11/30/2017 177 -1.12%
11/29/2017 179 0.00%
11/28/2017 179 -1.65%
11/27/2017 182 -1.62%
11/24/2017 185 -1.07%
11/23/2017 187 0.00%
11/22/2017 187 -1.06%
11/21/2017 189 0.00%
11/20/2017 189 -0.53%
11/17/2017 190 0.00%
11/16/2017 190 -3.55%
11/15/2017 197 3.14%
11/14/2017 191 0.53%
11/13/2017 190 0.00%
11/10/2017 190 -1.55%
11/9/2017 193 1.05%
11/8/2017 191 -1.04%
11/7/2017 193 2.12%
11/6/2017 189 0.53%
11/3/2017 188 1.62%
11/2/2017 185 -0.54%
11/1/2017 186 0.54%
10/31/2017 185 0.00%
10/30/2017 185 -0.54%
10/27/2017 186 -0.53%
10/26/2017 187 0.54%
10/25/2017 186 0.54%
10/24/2017 185 0.54%
10/23/2017 184 -0.54%
10/20/2017 185 -0.54%
10/19/2017 186 0.54%
10/18/2017 185 -1.07%
10/17/2017 187 -1.06%
10/16/2017 189 -1.05%
10/13/2017 191 0.53%
10/12/2017 190 -0.52%
10/11/2017 191 0.00%
10/10/2017 191 1.60%
10/9/2017 188 0.00%
10/6/2017 188 1.62%
10/5/2017 185 0.00%
10/4/2017 185 0.54%
10/3/2017 184 -1.08%
10/2/2017 186 0.00%
9/29/2017 186 -1.59%
9/28/2017 189 -1.56%
9/27/2017 192 -1.03%
9/26/2017 194 -0.51%
9/25/2017 195 2.09%
9/22/2017 191 -1.04%
9/21/2017 193 1.58%
9/20/2017 190 1.06%
9/19/2017 188 0.53%
9/18/2017 187 0.00%
9/15/2017 187 0.00%
9/14/2017 187 1.08%
9/13/2017 185 -2.12%
9/12/2017 189 0.00%
9/11/2017 189 -2.07%
9/8/2017 193 -0.52%
9/7/2017 194 -0.51%
9/6/2017 195 -0.51%
9/5/2017 196 1.55%
9/4/2017 193 0.00%
9/1/2017 193 -1.53%
8/31/2017 196 -2.49%
8/30/2017 201 -0.99%
8/29/2017 203 1.00%
8/28/2017 201 0.00%
8/25/2017 201 0.00%
8/24/2017 201 -2.43%
8/23/2017 206 1.48%
8/22/2017 203 -0.98%
8/21/2017 205 0.00%
8/18/2017 205 -0.49%
8/17/2017 206 2.49%
8/16/2017 201 0.50%
8/15/2017 200 -1.96%
8/14/2017 204 -2.39%
8/11/2017 209 -0.95%
8/10/2017 211 3.94%
8/9/2017 203 3.05%
8/8/2017 197 -1.01%
8/7/2017 199 -1.00%
8/4/2017 201 -0.99%
8/3/2017 203 2.53%
8/2/2017 198 0.51%
8/1/2017 197 0.51%
7/31/2017 196 -1.01%
7/28/2017 198 0.51%
7/27/2017 197 -0.51%
7/26/2017 198 -1.00%
7/25/2017 200 -1.96%
7/24/2017 204 1.49%
7/21/2017 201 -0.50%
7/20/2017 202 -0.98%
7/19/2017 204 -0.97%
7/18/2017 206 -0.48%
7/17/2017 207 0.00%
7/14/2017 207 0.49%
7/13/2017 206 0.49%
7/12/2017 205 0.00%
7/11/2017 205 -0.97%
7/10/2017 207 -1.43%
7/7/2017 210 -0.47%
7/6/2017 211 2.43%
7/5/2017 206 3.00%
7/3/2017 200 -1.48%
6/30/2017 203 -0.98%
6/29/2017 205 0.99%
6/28/2017 203 -0.49%
6/27/2017 204 0.00%
6/26/2017 204 -0.97%
6/23/2017 206 -1.90%
6/22/2017 210 -1.41%
6/21/2017 213 1.43%
6/20/2017 210 4.48%
6/19/2017 201 1.52%
6/16/2017 198 1.54%
6/15/2017 195 2.63%
6/14/2017 190 2.15%
6/13/2017 186 -1.06%
6/12/2017 188 -1.57%
6/9/2017 191 -1.55%
6/8/2017 194 1.04%
6/7/2017 192 -3.03%
6/6/2017 198 -0.50%
6/5/2017 199 -2.93%
6/2/2017 205 0.00%
6/1/2017 205 -0.49%
5/31/2017 206 1.48%
5/30/2017 203 2.01%
5/29/2017 199 -1.49%
5/26/2017 202 1.51%
5/25/2017 199 1.53%
5/24/2017 196 -0.51%
5/23/2017 197 -1.50%
5/22/2017 200 -0.99%
5/19/2017 202 -0.98%
5/18/2017 204 1.49%
5/17/2017 201 4.69%
5/16/2017 192 -0.52%
5/15/2017 193 -1.53%
5/12/2017 196 1.55%
5/11/2017 193 -0.52%
5/10/2017 194 -2.02%
5/9/2017 198 0.51%
5/8/2017 197 -1.01%
5/5/2017 199 0.51%
5/4/2017 198 2.59%
5/3/2017 193 -0.52%
5/2/2017 194 0.00%
5/1/2017 194 -2.02%
4/28/2017 198 0.00%
4/27/2017 198 0.51%
4/26/2017 197 1.55%
4/25/2017 194 -0.51%
4/24/2017 195 -1.52%
4/21/2017 198 -1.49%
4/20/2017 201 0.00%
4/19/2017 201 -2.43%
4/18/2017 206 1.98%
4/17/2017 202 -0.98%
4/13/2017 204 0.00%
4/12/2017 204 0.00%
4/11/2017 204 2.00%
4/10/2017 200 1.52%
4/7/2017 197 -1.01%
4/6/2017 199 1.02%
4/5/2017 197 -0.51%
4/4/2017 198 -1.00%
4/3/2017 200 2.56%
3/31/2017 195 1.56%
3/30/2017 192 2.13%
3/29/2017 188 1.08%
3/28/2017 186 -2.11%
3/27/2017 190 -1.04%
3/24/2017 192 -2.54%
3/23/2017 197 -2.48%
3/22/2017 202 2.02%
3/21/2017 198 1.54%
3/20/2017 195 0.00%
3/17/2017 195 -2.50%
3/16/2017 200 -4.31%
3/15/2017 209 -1.88%
3/14/2017 213 3.90%
3/13/2017 205 0.49%
3/10/2017 204 -3.32%
3/9/2017 211 1.93%
3/8/2017 207 5.08%
3/7/2017 197 0.51%
3/6/2017 196 -1.01%
3/3/2017 198 -0.50%
3/2/2017 199 0.00%
3/1/2017 199 -3.40%
2/28/2017 206 0.00%
2/27/2017 206 -0.48%
2/24/2017 207 3.50%
2/23/2017 200 -0.50%
2/22/2017 201 0.00%
2/21/2017 201 -1.47%
2/20/2017 204 0.00%
2/17/2017 204 0.99%
2/16/2017 202 1.51%
2/15/2017 199 2.58%
2/14/2017 194 -1.02%
2/13/2017 196 -1.51%
2/10/2017 199 -1.49%
2/9/2017 202 -2.42%
2/8/2017 207 4.55%
2/7/2017 198 2.06%
2/6/2017 194 1.04%
2/3/2017 192 -3.52%
2/2/2017 199 -2.93%
2/1/2017 205 -2.84%
1/31/2017 211 -0.94%
1/30/2017 213 0.95%
1/27/2017 211 -1.40%
1/26/2017 214 2.39%
1/25/2017 209 -1.42%
1/24/2017 212 0.47%
1/23/2017 211 -0.47%
1/20/2017 212 -0.47%
1/19/2017 213 2.40%
1/18/2017 208 0.48%
1/17/2017 207 -0.48%
1/16/2017 208 0.00%
1/13/2017 208 -0.95%
1/12/2017 210 -2.78%
1/11/2017 216 0.00%
1/10/2017 216 1.89%
1/9/2017 212 0.47%
1/6/2017 211 -1.86%
1/5/2017 215 -2.27%
1/4/2017 220 -3.08%
1/3/2017 227 0.00%
1/2/2017 227 0.00%
12/30/2016 227 0.44%
12/29/2016 226 0.89%
12/28/2016 224 1.82%
12/27/2016 220 -0.90%
12/26/2016 222 0.00%
12/23/2016 222 0.45%
12/22/2016 221 0.45%
12/21/2016 220 0.46%
12/20/2016 219 -0.90%
12/19/2016 221 0.45%
12/16/2016 220 -1.79%
12/15/2016 224 0.00%
12/14/2016 224 -3.03%
12/13/2016 231 -1.70%
12/12/2016 235 0.86%
12/9/2016 233 -0.85%
12/8/2016 235 0.43%
12/7/2016 234 -0.85%
12/6/2016 236 -3.28%
12/5/2016 244 -3.17%
12/2/2016 252 -1.95%
12/1/2016 257 1.18%
11/30/2016 254 -1.93%
11/29/2016 259 0.39%
11/28/2016 258 -3.01%
11/25/2016 266 1.14%
11/24/2016 263 0.00%
11/23/2016 263 0.38%
11/22/2016 262 -2.60%
11/21/2016 269 -1.10%
11/18/2016 272 3.82%
11/17/2016 262 1.16%
11/16/2016 259 3.60%
11/15/2016 250 -6.02%
11/14/2016 266 5.14%
11/11/2016 253 0.00%
11/10/2016 253 11.45%
11/9/2016 227 1.34%
11/8/2016 224 -3.86%
11/7/2016 233 -5.67%
11/4/2016 247 1.23%
11/3/2016 244 -1.61%
11/2/2016 248 -0.80%
11/1/2016 250 4.60%
10/31/2016 239 2.58%
10/28/2016 233 0.43%
10/27/2016 232 1.31%
10/26/2016 229 -0.43%
10/25/2016 230 2.22%
10/24/2016 225 0.00%
10/21/2016 225 0.00%
10/20/2016 225 -0.44%
10/19/2016 226 -3.00%
10/18/2016 233 0.00%
10/17/2016 233 1.75%
10/14/2016 229 -0.43%
10/13/2016 230 -0.86%
10/12/2016 232 -0.85%
10/11/2016 234 0.86%
10/10/2016 232 0.43%
10/7/2016 231 -0.86%
10/6/2016 233 -0.43%
10/5/2016 234 -0.85%
10/4/2016 236 3.06%
10/3/2016 229 3.15%
9/30/2016 222 -2.63%
9/29/2016 228 2.70%
9/28/2016 222 -5.53%
9/27/2016 235 -1.67%
9/26/2016 239 2.58%
9/23/2016 233 3.10%
9/22/2016 226 -1.31%
9/21/2016 229 -6.91%
9/20/2016 246 -1.60%
9/19/2016 250 -2.34%
9/16/2016 256 4.07%
9/15/2016 246 0.00%
9/14/2016 246 3.80%
9/13/2016 237 3.04%
9/12/2016 230 0.00%
9/9/2016 230 4.55%
9/8/2016 220 -2.65%
9/7/2016 226 -2.16%
9/6/2016 231 -2.12%
9/5/2016 236 0.00%
9/2/2016 236 -1.67%
9/1/2016 240 2.13%
8/31/2016 235 2.17%
8/30/2016 230 0.00%
8/29/2016 230 1.77%
8/26/2016 226 -3.00%
8/25/2016 233 0.87%
8/24/2016 231 2.21%
8/23/2016 226 -0.88%
8/22/2016 228 2.70%
8/19/2016 222 0.00%
8/18/2016 222 -0.89%
8/17/2016 224 0.90%
8/16/2016 222 -2.20%
8/15/2016 227 -2.99%
8/12/2016 234 -0.43%
8/11/2016 235 -2.89%
8/10/2016 242 -1.22%
8/9/2016 245 1.24%
8/8/2016 242 -1.22%
8/5/2016 245 -4.30%
8/4/2016 256 -3.40%
8/3/2016 265 -1.49%
8/2/2016 269 -0.37%
8/1/2016 270 -1.10%
7/29/2016 273 1.11%
7/28/2016 270 1.12%
7/27/2016 267 3.89%
7/26/2016 257 2.39%
7/25/2016 251 3.29%
7/22/2016 243 0.00%
7/21/2016 243 2.53%
7/20/2016 237 -2.47%
7/19/2016 243 -0.41%
7/18/2016 244 0.83%
7/15/2016 242 -1.22%
7/14/2016 245 -0.81%
7/13/2016 247 1.65%
7/12/2016 243 -2.80%
7/11/2016 250 -3.10%
7/8/2016 258 -1.53%
7/7/2016 262 0.38%
7/6/2016 261 -0.38%
7/5/2016 262 1.16%
7/4/2016 259 0.00%
7/1/2016 259 -0.77%
6/30/2016 261 -1.88%
6/29/2016 266 -6.34%
6/28/2016 284 -3.07%
6/27/2016 293 3.90%
6/24/2016 282 10.16%
6/23/2016 256 -7.25%
6/22/2016 276 -1.43%
6/21/2016 280 -1.41%
6/20/2016 284 -4.70%
6/17/2016 298 -1.97%
6/16/2016 304 1.33%
6/15/2016 300 -0.99%
6/14/2016 303 3.41%
6/13/2016 293 2.81%
6/10/2016 285 3.64%
6/9/2016 275 2.23%
6/8/2016 269 -1.47%
6/7/2016 273 -2.85%
6/6/2016 281 -2.43%
6/3/2016 288 -0.69%
6/2/2016 290 -1.69%
6/1/2016 295 -1.67%
5/31/2016 300 1.35%
5/30/2016 296 0.00%
5/27/2016 296 -1.00%
5/26/2016 299 0.00%
5/25/2016 299 -1.97%
5/24/2016 305 -0.65%
5/23/2016 307 0.66%
5/20/2016 305 0.99%
5/19/2016 302 6.34%
5/18/2016 284 0.35%
5/17/2016 283 -0.35%
5/16/2016 284 -2.41%
5/13/2016 291 2.11%
5/12/2016 285 -1.38%
5/11/2016 289 -1.37%
5/10/2016 293 -2.01%
5/9/2016 299 1.36%
5/6/2016 295 -1.34%
5/5/2016 299 0.67%
5/4/2016 297 3.13%
5/3/2016 288 3.60%
5/2/2016 278 -1.07%
4/29/2016 281 0.72%
4/28/2016 279 0.00%
4/27/2016 279 -0.36%
4/26/2016 280 0.00%
4/25/2016 280 0.72%
4/22/2016 278 2.96%
4/21/2016 270 0.75%
4/20/2016 268 -3.25%
4/19/2016 277 -4.15%
4/18/2016 289 -0.69%
4/15/2016 291 2.46%
4/14/2016 284 -2.07%
4/13/2016 290 -2.36%
4/12/2016 297 -3.26%
4/11/2016 307 -2.54%
4/8/2016 315 -1.56%
4/7/2016 320 5.26%
4/6/2016 304 -2.25%
4/5/2016 311 4.01%
4/4/2016 299 1.36%
4/1/2016 295 -1.34%
3/31/2016 299 -0.66%
3/30/2016 301 -2.59%
3/29/2016 309 2.32%
3/28/2016 302 -0.33%
3/24/2016 303 2.71%
3/23/2016 295 4.24%
3/22/2016 283 0.35%
3/21/2016 282 -1.40%
3/18/2016 286 -2.39%
3/17/2016 293 -5.48%
3/16/2016 310 -4.32%
3/15/2016 324 2.86%
3/14/2016 315 0.96%
3/11/2016 312 -2.50%
3/10/2016 320 -1.23%
 3/9/2016 324 -3.28%
3/8/2016 335 1.82%
3/7/2016 329 -0.60%
3/4/2016 331 -1.78%
3/3/2016 337 -4.26%
3/2/2016 352 -0.56%
3/1/2016 354 -4.58%
2/29/2016 371 0.54%
2/26/2016 369 0.00%
2/25/2016 369 0.00%
2/24/2016 369 -2.38%
2/23/2016 378 1.34%
2/22/2016 373 -1.84%
2/19/2016 380 -1.30%
2/18/2016 385 0.00%
2/17/2016 385 -5.41%
2/16/2016 407 -1.69%
2/15/2016 414 0.00%
2/12/2016 414 -5.05%
2/11/2016 436 3.32%
2/10/2016 422 -1.86%
2/9/2016 430 0.47%
2/8/2016 428 7.00%
2/5/2016 400 0.25%
2/4/2016 399 0.00%
2/3/2016 399 -1.72%
2/2/2016 406 5.45%
2/1/2016 385 1.05%
1/29/2016 381 2.14%
1/28/2016 373 0.27%
1/27/2016 372 -1.33%
1/26/2016 377 -2.08%
1/25/2016 385 1.32%
1/22/2016 380 -7.54%
1/21/2016 411 -2.38%
1/20/2016 421 3.69%
1/19/2016 406 1.25%
1/18/2016 401 0.00%
1/15/2016 401 6.37%
1/14/2016 377 -1.05%
1/13/2016 381 4.38%
1/12/2016 365 3.11%
1/11/2016 354 -0.28%
1/8/2016 355 2.60%
1/7/2016 346 4.22%
1/6/2016 332 3.75%
1/5/2016 320 -1.84%
1/4/2016 326 1.56%
12/31/2015 321 1.58%
12/30/2015 316 1.61%
230.195