ESTRIMAR LAS CUOTAS MENSUALES FIJAS PARA UN CREDITO DE VEHICULO POR

VALOR $35.000.000 A UN PLAZO DE 72 MESES CON UNA TASA DE INTERES DEL 17,5%
EFECTIVA ANUAL

EFECTIVA 20.00% ANUAL

NOMINAL 18.37% FACTOR=12
PERIODICA 1.53% MENSUAL 1.53%
VPRESENTE 35,000,000
VFUTURO $ 104,509,440.00 58,005,936 RTA 2.
TIEMPO 72 MESES
CUOTA $ 805,638.01
# CAMBIO $ 69,509,440 23,005,936
% END-RENTA 198.60% 65.73%

A. DETERMINE DE LAS CUOTAS

B. DETERMINE EL VALOR FINAL QUE LE PAGA A LA ENTIDAD POR DICHO VEHICULO
C. DETERMINE EL VALOR DEL DEUDAMIENTO
1.    ¿Cuál será la tasa de interés aplicada al prestar $11.000.000 hoy, para cancelar $13.200.000 al final de 1 año

ANUAL 18.37%
PERIODICA 1.53% MENSUAL PERIODICA 4.66%
VPRESENTE 11,000,000 VPRESENTE 11,000,000
VFUTURO 13,200,000 VFUTURO 13,200,000
TIEMPO 12 MESES TIEMPO 4
# CAMBIO 2,200,000 # CAMBIO 2,200,000
% END-RENTA 20% % END-RENTA 20%

2. ¿Con qué cantidad de dinero se contará después de prestar $21.000.000 al 30% de interés efectivo anual dura

EFECTIVA 30.00% ANUAL

NOMINAL 26.53% FACTOR=12
PERIODICA 2.21% MENSUAL
VPRESENTE 21,000,000
VFUTURO 46,137,000 30,671,670 RTA.
TIEMPO 36 MESES
CUOTA 851,991
# CAMBIO 25,137,000
% END-RENTA 119.70%

3.    ¿Con qué cantidad de dinero se contará después de prestar $21.000.000 al 30% de interés compuesto anual

EFECTIVA 30.00% ANUAL EFECTIVA 30.00%

NOMINAL 26.53% FACTOR=12 NOMINAL 27.12%
PERIODICA 2.21% MENSUAL PERIODICA 6.78%
VPRESENTE 21,000,000 VPRESENTE 21,000,000
VFUTURO 46,137,000 30,671,670 RTA. VFUTURO 46,137,000
TIEMPO 36 MESES TIEMPO 12
CUOTA 851,991 CUOTA 2,612,887
# CAMBIO 25,137,000 # CAMBIO 25,137,000
% END-RENTA 119.70% % END-RENTA 119.70%

4.    Se dispone de 16'000.000 de pesos el cual se deposita en una entidad financiera que le pagará un interés me

EFECTIVA ANUAL
NOMINAL FACTOR=12
PERIODICA 0.80% MENSUAL
VPRESENTE 16,000,000
VFUTURO 18,467,562 RPT.
TIEMPO 18 MESES
# CAMBIO 2,467,562
% END-RENTA 15.42%
5.    ¿Cuánto deberá depositarse hoy en una entidad financiera que paga un interés trimestral del 2,6%, para ten

EFECTIVA 0.00% TRIMESTRAL

NOMINAL 0.00% FACTOR=4
PERIODICA 2.60% TRIMESTRAL
VPRESENTE 2,939,623 RPT.
VFUTURO 4,000,000
TIEMPO 12 TRIMESTRAL
# CAMBIO 1,060,377
% END-RENTA 36.07%

6.    Una entidad financiera ofrece que, por cualquier monto que se le entregue, devolverá el doble al cabo de 30

EFECTIVA 28.05% ANUAL RPT. EFECTIVA

NOMINAL 24.98% FACTOR=12 NOMINAL
PERIODICA 2.34% MENSUAL PERIODICA
VPRESENTE 5,000,000 VPRESENTE
VFUTURO 10,000,000 VFUTURO
TIEMPO 30 MESES TIEMPO
# CAMBIO 5,000,000 # CAMBIO
% END-RENTA 100.00% % END-RENTA

7.    ¿Cada cuánto se duplica el dinero invertido al 1.2%?

EFECTIVA 1.20% ANUAL

NOMINAL 1.19% FACTOR=12
PERIODICA 0.10% MENSUAL
VPRESENTE 20,000,000
VFUTURO 40,000,000
TIEMPO 697.2977954077 MESES RPT.

8.    Se invierte $12.000.000 al inicio del año 2016 a una tasa anual del 10%; ¿Cuánto se habrá acumulado al fina

EFECTIVA 10.00% ANUAL EFECTIVA

NOMINAL 9.57% FACTOR=12 NOMINAL
PERIODICA 0.80% MENSUAL PERIODICA
VPRESENTE 12,000,000 VPRESENTE
VFUTURO 15,972,000 RPT. VFUTURO
TIEMPO 36 MESES TIEMPO
# CAMBIO 3,972,000 # CAMBIO
% END-RENTA 33.10% % END-RENTA

9. Al inicio de su carrera universitaria sus padres decidieron regalarle un monto suficiente para que al finalizar su
para iniciar estudios en el exterior. Si el dinero es depositado en una cuenta que paga un interés trimestral del 2
EFECTIVA 2.04% TRIMESTRAL
NOMINAL 2.02% FACTOR=3
PERIODICA 0.17% MENSUAL
VPRESENTE 22,598,924 RPT.
VFUTURO 25,000,000
TIEMPO 60 MESES

10.    Una entidad financiera genera mecanismos de captación con el fin de entregar el doble del dinero depositad
¿Qué tasa de interés mensual, trimestral y bimestral está prometiendo la entidad?

EFECTIVA 11.61% ANUAL EFECTIVA

PERIODICA 0.97% MENSUAL RPT. PERIODICA
VPRESENTE 4,500,000 VPRESENTE
VFUTURO 9,000,000 VFUTURO
TIEMPO 72 MESES TIEMPO

11.    La compañía de financiamiento promete una tasa efectiva anual del 8.34%. ¿Cuál será el valor final de una

EFECTIVA 8.34% ANUAL

NOMINAL 8.04% FACTOR=12
PERIODICA 0.67% MENSUAL
VPRESENTE 12,500,000
VFUTURO 13,097,955 RPT.
TIEMPO 7 MESES

12. EL VALOR DE LA VIVIENDA ES $160.000.000

EFECTIVA 10.80% ANUAL

NOMINAL 10.30% FACTOR = 12
PERIODICA 0.86%
VPRESENTE 112,000,000
VFUTURO 521,572,192 220,350,458
TIEMPO 180 meses 15 180
CUOTA $ 1,224,169.21
# CAMBIO 409,572,192 108,350,458
% END-RENTA 366% 97%
A. Valor futuro con cuota y sin cuota

1.    Realice las siguientes conversiones de tasas de interés:

36% Nominal Anual – mensual

EFECTIVA 3.00% MENSUAL

NOMINAL 36.00% ANUAL

20% Nominal semestral – trimestral

EFECTIVA 10.00% TRIMESTRAL

NOMINAL 20.00% SEMESTRAL

32% Nominal Anual – bimestral

EFECTIVA 5.33% BIMESTRAL

NOMINAL 32.00% ANUAL

2.8% Nominal trimestral – mensual

EFECTIVA 0.93% MENSUAL

NOMINAL 2.80% TRIMESTRAL

4.6% semestral – diaria

30% Anual – mensual

EFECTIVA 30.00% ANUAL

NOMINAL 26.53% FACTOR=12
PERIODICA 2.21% MENSUAL 6.63%

30% Anual – trimestral

EFECTIVA 30.00% ANUAL

NOMINAL 27.12% FACTOR=4
PERIODICA 6.78% TRIMESTRAL

28.7% Anual – bimestral

EFECTIVA 28.70% ANUAL
NOMINAL 25.77% FACTOR=4
PERIODICA 4.29% BIMESTRAL

35% Anual – diaria

4.5% trimestral – semestral

EFECTIVA 4.50% TRIMESTRAL

EFECTIVA 9.00% SEMESTRAL

1.4% mensual – trimestral

EFECTIVA 1.40% MENSUAL

EFECTIVA 4.20% TRIMESTRAL

0.4% bimensual – semestral

EFECTIVA 0.40% BIMENSUAL

EFECTIVA 1.20% SEMESTRAL

0.0026% diaria – mensual

EFECTIVA 0.0026% DIARIA

EFECTIVA 0.08% MENSUAL
$13.200.000 al final de 1 año?

EFECTIVA 0.58%
ANUAL POR PRESTAR 11 A UNA TASA INTERES 1,53 % RECIBIRIA $ 2.200
PERIODICA 0.58% TRAS A UN SEGÚN ESCENARIO SE DEBE BAJAR LA TASA DE INTE
VPRESENTE 11,000,000 CORRESPONDIENTE $ 790.501
VFUTURO 11,790,501
TRIMESTRES TIEMPO 12
# CAMBIO 790,501
% END-RENTA 7.19%

de interés efectivo anual durante tres años?.

de interés compuesto anual durante tres años?.

ANUAL
FACTOR=4
TRIMESTRAL

31,354,646
TRIMESTRES

a que le pagará un interés mensual del 0.8% sobre la cantidad inicial acumulada cada mes. ¿Cuánto se tendrá al final de 1 a
rimestral del 2,6%, para tener $4'000.000 dentro de 3 años?

CAMBIAR ESCENARIA

olverá el doble al cabo de 30 meses. ¿Qué interés está pagando?

28.05% ANUAL RPT.

24.98% FACTOR=12
2.34% MENSUAL
1
2 hacer segundo escenario
30 MESES
1
100.00%

o se habrá acumulado al final del año 2019?

10.00% ANUAL
9.65% FACTOR=4 16
2.41% MENSUAL
12,000,000
17,569,200 RPT.
16 TRIMESTRES
5,569,200
46.41%

ciente para que al finalizar sus estudios (5 años) disponga de 25’000.000

ga un interés trimestral del 2.04%; ¿Cuánto será el valor del monto?
el doble del dinero depositado en un término de 6 años a sus clientes.

2.90% TRIMESTRAL RPT. 1.93% BIMENSUAL RPT.

0.97% MENSUAL 0.97% MENSUAL
4,500,000 ###
9,000,000 ###
72 MESES 72 MESES

uál será el valor final de una inversión de $12.500.000 durante siete meses?
 INTERES 1,53 % RECIBIRIA $ 2.200.000 EQUIVALENTE A UN 20% RESTABILIDAD
O SE DEBE BAJAR LA TASA DE INTERES AL 0,58% MENSUAL TENIENDO EN CUENTA QUE ES UN VARIABLE A CORDE AL MERCADO REAL

¿Cuánto se tendrá al final de 1 año y medio?

A CORDE AL MERCADO REAL, POR TANTO MI RENTABILIDAD ES 7,19%
12. EL VALOR DE LA VIVIENDA ES $160.000.000

EFECTIVA 10.80% ANUAL

NOMINAL 10.30% FACTOR = 12
PERIODICA 0.86%
VPRESENTE 112,000,000
VFUTURO 521,572,192 220,350,458
TIEMPO 180 meses
CUOTA $ 1,224,169.21
# CAMBIO 409,572,192 108,350,458
% END-RENTA 366% 97%

TIEMPO SALDO INICIAL INTERES (%) CUOTA AMORTIZACION SALDO

0 112,000,000
1 112,000,000 $ 961,297 $ 1,224,169.21 262,872 111,737,128
2 111,737,128 $ 959,041 $ 1,224,169.21 265,129 111,471,999
3 111,471,999 $ 956,765 $ 1,224,169.21 267,404 111,204,595
4 111,204,595 $ 954,470 $ 1,224,169.21 269,699 110,934,895
5 110,934,895 $ 952,155 $ 1,224,169.21 272,014 110,662,881
6 110,662,881 $ 949,820 $ 1,224,169.21 274,349 110,388,532
7 110,388,532 $ 947,466 $ 1,224,169.21 276,704 110,111,828
8 110,111,828 $ 945,091 $ 1,224,169.21 279,079 109,832,750
9 109,832,750 $ 942,695 $ 1,224,169.21 281,474 109,551,276
10 109,551,276 $ 940,279 $ 1,224,169.21 283,890 109,267,386
11 109,267,386 $ 937,843 $ 1,224,169.21 286,326 108,981,059
12 108,981,059 $ 935,385 $ 1,224,169.21 288,784 108,692,275
13 108,692,275 $ 932,907 $ 1,224,169.21 291,263 108,401,013
14 108,401,013 $ 930,407 $ 1,224,169.21 293,763 108,107,250
15 108,107,250 $ 927,885 $ 1,224,169.21 296,284 107,810,966
16 107,810,966 $ 925,342 $ 1,224,169.21 298,827 107,512,139
17 107,512,139 $ 922,777 $ 1,224,169.21 301,392 107,210,748
18 107,210,748 $ 920,191 $ 1,224,169.21 303,979 106,906,769
19 106,906,769 $ 917,582 $ 1,224,169.21 306,588 106,600,181
20 106,600,181 $ 914,950 $ 1,224,169.21 309,219 106,290,962
21 106,290,962 $ 912,296 $ 1,224,169.21 311,873 105,979,089
22 105,979,089 $ 909,619 $ 1,224,169.21 314,550 105,664,539
23 105,664,539 $ 906,919 $ 1,224,169.21 317,250 105,347,289
24 105,347,289 $ 904,197 $ 1,224,169.21 319,973 105,027,317
25 105,027,317 $ 901,450 $ 1,224,169.21 322,719 104,704,598
26 104,704,598 $ 898,680 $ 1,224,169.21 325,489 104,379,109
27 104,379,109 $ 895,887 $ 1,224,169.21 328,283 104,050,826
28 104,050,826 $ 893,069 $ 1,224,169.21 331,100 103,719,726
29 103,719,726 $ 890,227 $ 1,224,169.21 333,942 103,385,784
30 103,385,784 $ 887,361 $ 1,224,169.21 336,808 103,048,975
31 103,048,975 $ 884,470 $ 1,224,169.21 339,699 102,709,276
32 102,709,276 $ 881,554 $ 1,224,169.21 342,615 102,366,662
33 102,366,662 $ 878,614 $ 1,224,169.21 345,555 102,021,106
34 102,021,106 $ 875,648 $ 1,224,169.21 348,521 101,672,585
35 101,672,585 $ 872,657 $ 1,224,169.21 351,513 101,321,072
36 101,321,072 $ 869,639 $ 1,224,169.21 354,530 100,966,542
37 100,966,542 $ 866,597 $ 1,224,169.21 357,573 100,608,970
38 100,608,970 $ 863,527 $ 1,224,169.21 360,642 100,248,328
39 100,248,328 $ 860,432 $ 1,224,169.21 363,737 99,884,591
40 99,884,591 $ 857,310 $ 1,224,169.21 366,859 99,517,732
41 99,517,732 $ 854,161 $ 1,224,169.21 370,008 99,147,724
42 99,147,724 $ 850,986 $ 1,224,169.21 373,184 98,774,540
43 98,774,540 $ 847,783 $ 1,224,169.21 376,387 98,398,154
44 98,398,154 $ 844,552 $ 1,224,169.21 379,617 98,018,536
45 98,018,536 $ 841,294 $ 1,224,169.21 382,875 97,635,661
46 97,635,661 $ 838,008 $ 1,224,169.21 386,162 97,249,499
47 97,249,499 $ 834,693 $ 1,224,169.21 389,476 96,860,023
48 96,860,023 $ 831,350 $ 1,224,169.21 392,819 96,467,204
49 96,467,204 $ 827,979 $ 1,224,169.21 396,191 96,071,014
50 96,071,014 $ 824,578 $ 1,224,169.21 399,591 95,671,423
51 95,671,423 $ 821,148 $ 1,224,169.21 403,021 95,268,402
52 95,268,402 $ 817,689 $ 1,224,169.21 406,480 94,861,922
53 94,861,922 $ 814,201 $ 1,224,169.21 409,969 94,451,953
54 94,451,953 $ 810,682 $ 1,224,169.21 413,487 94,038,466
55 94,038,466 $ 807,133 $ 1,224,169.21 417,036 93,621,430
56 93,621,430 $ 803,553 $ 1,224,169.21 420,616 93,200,814
57 93,200,814 $ 799,943 $ 1,224,169.21 424,226 92,776,588
58 92,776,588 $ 796,302 $ 1,224,169.21 427,867 92,348,721
59 92,348,721 $ 792,630 $ 1,224,169.21 431,540 91,917,181
60 91,917,181 $ 788,926 $ 1,224,169.21 435,243 91,481,938
61 91,481,938 $ 785,190 $ 1,224,169.21 438,979 91,042,959
62 91,042,959 $ 781,422 $ 1,224,169.21 442,747 90,600,212
63 90,600,212 $ 777,622 $ 1,224,169.21 446,547 90,153,665
64 90,153,665 $ 773,790 $ 1,224,169.21 450,380 89,703,285
65 89,703,285 $ 769,924 $ 1,224,169.21 454,245 89,249,040
66 89,249,040 $ 766,025 $ 1,224,169.21 458,144 88,790,896
67 88,790,896 $ 762,093 $ 1,224,169.21 462,076 88,328,819
68 88,328,819 $ 758,127 $ 1,224,169.21 466,042 87,862,777
69 87,862,777 $ 754,127 $ 1,224,169.21 470,042 87,392,735
70 87,392,735 $ 750,092 $ 1,224,169.21 474,077 86,918,658
71 86,918,658 $ 746,023 $ 1,224,169.21 478,146 86,440,512
72 86,440,512 $ 741,920 $ 1,224,169.21 482,250 85,958,262
73 85,958,262 $ 737,780 $ 1,224,169.21 486,389 85,471,874
74 85,471,874 $ 733,606 $ 1,224,169.21 490,564 84,981,310
75 84,981,310 $ 729,395 $ 1,224,169.21 494,774 84,486,536
 76 84,486,536 $ 725,149 $ 1,224,169.21 499,021 83,987,515
77 83,987,515 $ 720,865 $ 1,224,169.21 503,304 83,484,212
78 83,484,212 $ 716,546 $ 1,224,169.21 507,624 82,976,588
79 82,976,588 $ 712,189 $ 1,224,169.21 511,981 82,464,607
80 82,464,607 $ 707,794 $ 1,224,169.21 516,375 81,948,232
81 81,948,232 $ 703,362 $ 1,224,169.21 520,807 81,427,425
82 81,427,425 $ 698,892 $ 1,224,169.21 525,277 80,902,148
83 80,902,148 $ 694,384 $ 1,224,169.21 529,786 80,372,363
84 80,372,363 $ 689,837 $ 1,224,169.21 534,333 79,838,030
85 79,838,030 $ 685,250 $ 1,224,169.21 538,919 79,299,111
86 79,299,111 $ 680,625 $ 1,224,169.21 543,544 78,755,567
87 78,755,567 $ 675,960 $ 1,224,169.21 548,210 78,207,357
88 78,207,357 $ 671,254 $ 1,224,169.21 552,915 77,654,442
89 77,654,442 $ 666,509 $ 1,224,169.21 557,661 77,096,782
90 77,096,782 $ 661,722 $ 1,224,169.21 562,447 76,534,335
91 76,534,335 $ 656,895 $ 1,224,169.21 567,274 75,967,060
92 75,967,060 $ 652,026 $ 1,224,169.21 572,143 75,394,917
93 75,394,917 $ 647,115 $ 1,224,169.21 577,054 74,817,863
94 74,817,863 $ 642,162 $ 1,224,169.21 582,007 74,235,856
95 74,235,856 $ 637,167 $ 1,224,169.21 587,002 73,648,854
96 73,648,854 $ 632,129 $ 1,224,169.21 592,041 73,056,813
97 73,056,813 $ 627,047 $ 1,224,169.21 597,122 72,459,691
98 72,459,691 $ 621,922 $ 1,224,169.21 602,247 71,857,444
99 71,857,444 $ 616,753 $ 1,224,169.21 607,416 71,250,027
100 71,250,027 $ 611,539 $ 1,224,169.21 612,630 70,637,398
101 70,637,398 $ 606,281 $ 1,224,169.21 617,888 70,019,510
102 70,019,510 $ 600,978 $ 1,224,169.21 623,191 69,396,318
103 69,396,318 $ 595,629 $ 1,224,169.21 628,540 68,767,778
104 68,767,778 $ 590,234 $ 1,224,169.21 633,935 68,133,843
105 68,133,843 $ 584,793 $ 1,224,169.21 639,376 67,494,467
106 67,494,467 $ 579,305 $ 1,224,169.21 644,864 66,849,604
107 66,849,604 $ 573,771 $ 1,224,169.21 650,399 66,199,205
108 66,199,205 $ 568,188 $ 1,224,169.21 655,981 65,543,224
109 65,543,224 $ 562,558 $ 1,224,169.21 661,611 64,881,613
110 64,881,613 $ 556,879 $ 1,224,169.21 667,290 64,214,323
111 64,214,323 $ 551,152 $ 1,224,169.21 673,017 63,541,306
112 63,541,306 $ 545,375 $ 1,224,169.21 678,794 62,862,512
113 62,862,512 $ 539,549 $ 1,224,169.21 684,620 62,177,892
114 62,177,892 $ 533,673 $ 1,224,169.21 690,496 61,487,396
115 61,487,396 $ 527,747 $ 1,224,169.21 696,422 60,790,974
116 60,790,974 $ 521,769 $ 1,224,169.21 702,400 60,088,574
117 60,088,574 $ 515,741 $ 1,224,169.21 708,429 59,380,145
118 59,380,145 $ 509,660 $ 1,224,169.21 714,509 58,665,636
119 58,665,636 $ 503,528 $ 1,224,169.21 720,642 57,944,995
120 57,944,995 $ 497,342 $ 1,224,169.21 726,827 57,218,168
121 57,218,168 $ 491,104 $ 1,224,169.21 733,065 56,485,103
122 56,485,103 $ 484,812 $ 1,224,169.21 739,357 55,745,745
123 55,745,745 $ 478,466 $ 1,224,169.21 745,703 55,000,042
124 55,000,042 $ 472,066 $ 1,224,169.21 752,103 54,247,939
125 54,247,939 $ 465,610 $ 1,224,169.21 758,559 53,489,380
126 53,489,380 $ 459,100 $ 1,224,169.21 765,069 52,724,311
127 52,724,311 $ 452,533 $ 1,224,169.21 771,636 51,952,674
128 51,952,674 $ 445,910 $ 1,224,169.21 778,259 51,174,415
129 51,174,415 $ 439,230 $ 1,224,169.21 784,939 50,389,477
130 50,389,477 $ 432,493 $ 1,224,169.21 791,676 49,597,801
131 49,597,801 $ 425,698 $ 1,224,169.21 798,471 48,799,330
132 48,799,330 $ 418,845 $ 1,224,169.21 805,324 47,994,005
133 47,994,005 $ 411,933 $ 1,224,169.21 812,236 47,181,769
134 47,181,769 $ 404,961 $ 1,224,169.21 819,208 46,362,561
135 46,362,561 $ 397,930 $ 1,224,169.21 826,239 45,536,322
136 45,536,322 $ 390,839 $ 1,224,169.21 833,331 44,702,992
137 44,702,992 $ 383,686 $ 1,224,169.21 840,483 43,862,508
138 43,862,508 $ 376,472 $ 1,224,169.21 847,697 43,014,811
139 43,014,811 $ 369,196 $ 1,224,169.21 854,973 42,159,839
140 42,159,839 $ 361,858 $ 1,224,169.21 862,311 41,297,528
141 41,297,528 $ 354,457 $ 1,224,169.21 869,712 40,427,815
142 40,427,815 $ 346,992 $ 1,224,169.21 877,177 39,550,638
143 39,550,638 $ 339,463 $ 1,224,169.21 884,706 38,665,933
144 38,665,933 $ 331,870 $ 1,224,169.21 892,299 37,773,633
145 37,773,633 $ 324,211 $ 1,224,169.21 899,958 36,873,676
146 36,873,676 $ 316,487 $ 1,224,169.21 907,682 35,965,993
147 35,965,993 $ 308,696 $ 1,224,169.21 915,473 35,050,520
148 35,050,520 $ 300,839 $ 1,224,169.21 923,330 34,127,190
149 34,127,190 $ 292,914 $ 1,224,169.21 931,255 33,195,935
150 33,195,935 $ 284,921 $ 1,224,169.21 939,248 32,256,687
151 32,256,687 $ 276,859 $ 1,224,169.21 947,310 31,309,377
152 31,309,377 $ 268,729 $ 1,224,169.21 955,441 30,353,936
153 30,353,936 $ 260,528 $ 1,224,169.21 963,641 29,390,295
154 29,390,295 $ 252,257 $ 1,224,169.21 971,912 28,418,383
155 28,418,383 $ 243,915 $ 1,224,169.21 980,254 27,438,129
156 27,438,129 $ 235,502 $ 1,224,169.21 988,668 26,449,461
157 26,449,461 $ 227,016 $ 1,224,169.21 997,153 25,452,308
158 25,452,308 $ 218,457 $ 1,224,169.21 1,005,712 24,446,596
159 24,446,596 $ 209,825 $ 1,224,169.21 1,014,344 23,432,252
160 23,432,252 $ 201,119 $ 1,224,169.21 1,023,050 22,409,202
161 22,409,202 $ 192,338 $ 1,224,169.21 1,031,831 21,377,371
162 21,377,371 $ 183,482 $ 1,224,169.21 1,040,687 20,336,684
163 20,336,684 $ 174,550 $ 1,224,169.21 1,049,619 19,287,065
164 19,287,065 $ 165,541 $ 1,224,169.21 1,058,628 18,228,437
165 18,228,437 $ 156,455 $ 1,224,169.21 1,067,714 17,160,722
166 17,160,722 $ 147,291 $ 1,224,169.21 1,076,879 16,083,844
167 16,083,844 $ 138,048 $ 1,224,169.21 1,086,121 14,997,722
168 14,997,722 $ 128,726 $ 1,224,169.21 1,095,444 13,902,278
169 13,902,278 $ 119,323 $ 1,224,169.21 1,104,846 12,797,433
170 12,797,433 $ 109,840 $ 1,224,169.21 1,114,329 11,683,104
171 11,683,104 $ 100,276 $ 1,224,169.21 1,123,893 10,559,211
172 10,559,211 $ 90,630 $ 1,224,169.21 1,133,539 9,425,671
173 9,425,671 $ 80,901 $ 1,224,169.21 1,143,269 8,282,403
174 8,282,403 $ 71,088 $ 1,224,169.21 1,153,081 7,129,321
175 7,129,321 $ 61,191 $ 1,224,169.21 1,162,978 5,966,343
176 5,966,343 $ 51,209 $ 1,224,169.21 1,172,960 4,793,383
177 4,793,383 $ 41,142 $ 1,224,169.21 1,183,028 3,610,356
178 3,610,356 $ 30,988 $ 1,224,169.21 1,193,182 2,417,174
179 2,417,174 $ 20,747 $ 1,224,169.21 1,203,423 1,213,752
180 1,213,752 $ 10,418 $ 1,224,169.21 1,213,752 - 0
315
12. EL VALOR DE LA VIVIENDA ES $160.000.000

EFECTIVA 13.50% ANUAL

NOMINAL 12.73% FACTOR = 12
PERIODICA 1.06%
VPRESENTE 112,000,000
VFUTURO 748,438,200 251,505,911
TIEMPO 180 meses
CUOTA $ 1,397,255.06
# CAMBIO 636,438,200 139,505,911
% END-RENTA 568% 125%

TIEMPO SALDO INICIAL INTERES (%) CUOTA AMORTIZACION SALDO

0 112,000,000
1 112,000,000 $ 1,188,163 $ 1,397,255.06 209,092 111,790,908
2 111,790,908 $ 1,185,945 $ 1,397,255.06 211,310 111,579,597
3 111,579,597 $ 1,183,703 $ 1,397,255.06 213,552 111,366,045
4 111,366,045 $ 1,181,438 $ 1,397,255.06 215,818 111,150,228
5 111,150,228 $ 1,179,148 $ 1,397,255.06 218,107 110,932,121
6 110,932,121 $ 1,176,834 $ 1,397,255.06 220,421 110,711,700
7 110,711,700 $ 1,174,496 $ 1,397,255.06 222,759 110,488,941
8 110,488,941 $ 1,172,133 $ 1,397,255.06 225,122 110,263,818
9 110,263,818 $ 1,169,744 $ 1,397,255.06 227,511 110,036,308
10 110,036,308 $ 1,167,331 $ 1,397,255.06 229,924 109,806,384
11 109,806,384 $ 1,164,892 $ 1,397,255.06 232,363 109,574,020
12 109,574,020 $ 1,162,427 $ 1,397,255.06 234,828 109,339,192
13 109,339,192 $ 1,159,935 $ 1,397,255.06 237,320 109,101,872
14 109,101,872 $ 1,157,418 $ 1,397,255.06 239,837 108,862,035
15 108,862,035 $ 1,154,873 $ 1,397,255.06 242,382 108,619,653
16 108,619,653 $ 1,152,302 $ 1,397,255.06 244,953 108,374,700
17 108,374,700 $ 1,149,704 $ 1,397,255.06 247,552 108,127,149
18 108,127,149 $ 1,147,077 $ 1,397,255.06 250,178 107,876,971
19 107,876,971 $ 1,144,423 $ 1,397,255.06 252,832 107,624,140
20 107,624,140 $ 1,141,741 $ 1,397,255.06 255,514 107,368,626
21 107,368,626 $ 1,139,031 $ 1,397,255.06 258,225 107,110,401
22 107,110,401 $ 1,136,291 $ 1,397,255.06 260,964 106,849,437
23 106,849,437 $ 1,133,523 $ 1,397,255.06 263,732 106,585,705
24 106,585,705 $ 1,130,725 $ 1,397,255.06 266,530 106,319,174
25 106,319,174 $ 1,127,897 $ 1,397,255.06 269,358 106,049,817
26 106,049,817 $ 1,125,040 $ 1,397,255.06 272,215 105,777,601
27 105,777,601 $ 1,122,152 $ 1,397,255.06 275,103 105,502,498
28 105,502,498 $ 1,119,234 $ 1,397,255.06 278,022 105,224,477
29 105,224,477 $ 1,116,284 $ 1,397,255.06 280,971 104,943,506
30 104,943,506 $ 1,113,303 $ 1,397,255.06 283,952 104,659,554
31 104,659,554 $ 1,110,291 $ 1,397,255.06 286,964 104,372,590
32 104,372,590 $ 1,107,247 $ 1,397,255.06 290,008 104,082,582
33 104,082,582 $ 1,104,170 $ 1,397,255.06 293,085 103,789,497
34 103,789,497 $ 1,101,061 $ 1,397,255.06 296,194 103,493,303
35 103,493,303 $ 1,097,919 $ 1,397,255.06 299,336 103,193,967
36 103,193,967 $ 1,094,743 $ 1,397,255.06 302,512 102,891,455
37 102,891,455 $ 1,091,534 $ 1,397,255.06 305,721 102,585,734
38 102,585,734 $ 1,088,291 $ 1,397,255.06 308,964 102,276,769
39 102,276,769 $ 1,085,013 $ 1,397,255.06 312,242 101,964,527
40 101,964,527 $ 1,081,701 $ 1,397,255.06 315,554 101,648,973
41 101,648,973 $ 1,078,353 $ 1,397,255.06 318,902 101,330,071
42 101,330,071 $ 1,074,970 $ 1,397,255.06 322,285 101,007,786
43 101,007,786 $ 1,071,551 $ 1,397,255.06 325,704 100,682,082
44 100,682,082 $ 1,068,096 $ 1,397,255.06 329,159 100,352,922
45 100,352,922 $ 1,064,604 $ 1,397,255.06 332,651 100,020,271
46 100,020,271 $ 1,061,075 $ 1,397,255.06 336,180 99,684,091
47 99,684,091 $ 1,057,508 $ 1,397,255.06 339,747 99,344,344
48 99,344,344 $ 1,053,904 $ 1,397,255.06 343,351 99,000,993
49 99,000,993 $ 1,050,262 $ 1,397,255.06 346,993 98,654,000
50 98,654,000 $ 1,046,581 $ 1,397,255.06 350,675 98,303,325
51 98,303,325 $ 1,042,860 $ 1,397,255.06 354,395 97,948,930
52 97,948,930 $ 1,039,101 $ 1,397,255.06 358,154 97,590,776
53 97,590,776 $ 1,035,301 $ 1,397,255.06 361,954 97,228,822
54 97,228,822 $ 1,031,461 $ 1,397,255.06 365,794 96,863,029
55 96,863,029 $ 1,027,581 $ 1,397,255.06 369,674 96,493,354
56 96,493,354 $ 1,023,659 $ 1,397,255.06 373,596 96,119,758
57 96,119,758 $ 1,019,696 $ 1,397,255.06 377,559 95,742,199
58 95,742,199 $ 1,015,690 $ 1,397,255.06 381,565 95,360,635
59 95,360,635 $ 1,011,643 $ 1,397,255.06 385,612 94,975,022
60 94,975,022 $ 1,007,552 $ 1,397,255.06 389,703 94,585,319
61 94,585,319 $ 1,003,418 $ 1,397,255.06 393,838 94,191,481
62 94,191,481 $ 999,239 $ 1,397,255.06 398,016 93,793,466
63 93,793,466 $ 995,017 $ 1,397,255.06 402,238 93,391,228
64 93,391,228 $ 990,750 $ 1,397,255.06 406,505 92,984,723
65 92,984,723 $ 986,437 $ 1,397,255.06 410,818 92,573,905
66 92,573,905 $ 982,079 $ 1,397,255.06 415,176 92,158,729
67 92,158,729 $ 977,675 $ 1,397,255.06 419,580 91,739,149
68 91,739,149 $ 973,224 $ 1,397,255.06 424,031 91,315,118
69 91,315,118 $ 968,725 $ 1,397,255.06 428,530 90,886,588
70 90,886,588 $ 964,179 $ 1,397,255.06 433,076 90,453,512
71 90,453,512 $ 959,585 $ 1,397,255.06 437,670 90,015,842
72 90,015,842 $ 954,942 $ 1,397,255.06 442,313 89,573,529
73 89,573,529 $ 950,249 $ 1,397,255.06 447,006 89,126,523
74 89,126,523 $ 945,507 $ 1,397,255.06 451,748 88,674,775
75 88,674,775 $ 940,715 $ 1,397,255.06 456,540 88,218,235
 76 88,218,235 $ 935,872 $ 1,397,255.06 461,383 87,756,852
77 87,756,852 $ 930,977 $ 1,397,255.06 466,278 87,290,574
78 87,290,574 $ 926,031 $ 1,397,255.06 471,225 86,819,349
79 86,819,349 $ 921,032 $ 1,397,255.06 476,224 86,343,126
80 86,343,126 $ 915,979 $ 1,397,255.06 481,276 85,861,850
81 85,861,850 $ 910,874 $ 1,397,255.06 486,381 85,375,469
82 85,375,469 $ 905,714 $ 1,397,255.06 491,541 84,883,928
83 84,883,928 $ 900,499 $ 1,397,255.06 496,756 84,387,172
84 84,387,172 $ 895,230 $ 1,397,255.06 502,026 83,885,147
85 83,885,147 $ 889,904 $ 1,397,255.06 507,351 83,377,795
86 83,377,795 $ 884,521 $ 1,397,255.06 512,734 82,865,062
87 82,865,062 $ 879,082 $ 1,397,255.06 518,173 82,346,889
88 82,346,889 $ 873,585 $ 1,397,255.06 523,670 81,823,219
89 81,823,219 $ 868,030 $ 1,397,255.06 529,225 81,293,993
90 81,293,993 $ 862,415 $ 1,397,255.06 534,840 80,759,153
91 80,759,153 $ 856,741 $ 1,397,255.06 540,514 80,218,640
92 80,218,640 $ 851,007 $ 1,397,255.06 546,248 79,672,392
93 79,672,392 $ 845,212 $ 1,397,255.06 552,043 79,120,349
94 79,120,349 $ 839,356 $ 1,397,255.06 557,899 78,562,450
95 78,562,450 $ 833,437 $ 1,397,255.06 563,818 77,998,632
96 77,998,632 $ 827,456 $ 1,397,255.06 569,799 77,428,833
97 77,428,833 $ 821,411 $ 1,397,255.06 575,844 76,852,989
98 76,852,989 $ 815,302 $ 1,397,255.06 581,953 76,271,037
99 76,271,037 $ 809,129 $ 1,397,255.06 588,126 75,682,910
100 75,682,910 $ 802,890 $ 1,397,255.06 594,366 75,088,545
101 75,088,545 $ 796,584 $ 1,397,255.06 600,671 74,487,874
102 74,487,874 $ 790,212 $ 1,397,255.06 607,043 73,880,831
103 73,880,831 $ 783,772 $ 1,397,255.06 613,483 73,267,348
104 73,267,348 $ 777,264 $ 1,397,255.06 619,991 72,647,356
105 72,647,356 $ 770,687 $ 1,397,255.06 626,569 72,020,788
106 72,020,788 $ 764,040 $ 1,397,255.06 633,216 71,387,572
107 71,387,572 $ 757,322 $ 1,397,255.06 639,933 70,747,639
108 70,747,639 $ 750,533 $ 1,397,255.06 646,722 70,100,917
109 70,100,917 $ 743,672 $ 1,397,255.06 653,583 69,447,335
110 69,447,335 $ 736,739 $ 1,397,255.06 660,516 68,786,819
111 68,786,819 $ 729,732 $ 1,397,255.06 667,523 68,119,295
112 68,119,295 $ 722,650 $ 1,397,255.06 674,605 67,444,690
113 67,444,690 $ 715,494 $ 1,397,255.06 681,762 66,762,929
114 66,762,929 $ 708,261 $ 1,397,255.06 688,994 66,073,935
115 66,073,935 $ 700,952 $ 1,397,255.06 696,303 65,377,631
116 65,377,631 $ 693,565 $ 1,397,255.06 703,690 64,673,941
117 64,673,941 $ 686,100 $ 1,397,255.06 711,155 63,962,786
118 63,962,786 $ 678,555 $ 1,397,255.06 718,700 63,244,086
119 63,244,086 $ 670,931 $ 1,397,255.06 726,324 62,517,762
120 62,517,762 $ 663,226 $ 1,397,255.06 734,029 61,783,733
121 61,783,733 $ 655,439 $ 1,397,255.06 741,816 61,041,917
122 61,041,917 $ 647,569 $ 1,397,255.06 749,686 60,292,231
123 60,292,231 $ 639,616 $ 1,397,255.06 757,639 59,534,592
124 59,534,592 $ 631,579 $ 1,397,255.06 765,677 58,768,915
125 58,768,915 $ 623,456 $ 1,397,255.06 773,799 57,995,116
126 57,995,116 $ 615,247 $ 1,397,255.06 782,008 57,213,108
127 57,213,108 $ 606,951 $ 1,397,255.06 790,304 56,422,803
128 56,422,803 $ 598,567 $ 1,397,255.06 798,688 55,624,115
129 55,624,115 $ 590,094 $ 1,397,255.06 807,161 54,816,954
130 54,816,954 $ 581,531 $ 1,397,255.06 815,724 54,001,230
131 54,001,230 $ 572,877 $ 1,397,255.06 824,378 53,176,852
132 53,176,852 $ 564,132 $ 1,397,255.06 833,123 52,343,729
133 52,343,729 $ 555,294 $ 1,397,255.06 841,962 51,501,767
134 51,501,767 $ 546,362 $ 1,397,255.06 850,894 50,650,874
135 50,650,874 $ 537,335 $ 1,397,255.06 859,920 49,790,953
136 49,790,953 $ 528,212 $ 1,397,255.06 869,043 48,921,911
137 48,921,911 $ 518,993 $ 1,397,255.06 878,262 48,043,648
138 48,043,648 $ 509,676 $ 1,397,255.06 887,579 47,156,069
139 47,156,069 $ 500,260 $ 1,397,255.06 896,995 46,259,074
140 46,259,074 $ 490,744 $ 1,397,255.06 906,511 45,352,562
141 45,352,562 $ 481,127 $ 1,397,255.06 916,128 44,436,434
142 44,436,434 $ 471,408 $ 1,397,255.06 925,847 43,510,588
143 43,510,588 $ 461,586 $ 1,397,255.06 935,669 42,574,919
144 42,574,919 $ 451,660 $ 1,397,255.06 945,595 41,629,324
145 41,629,324 $ 441,629 $ 1,397,255.06 955,626 40,673,698
146 40,673,698 $ 431,491 $ 1,397,255.06 965,764 39,707,933
147 39,707,933 $ 421,245 $ 1,397,255.06 976,010 38,731,924
148 38,731,924 $ 410,891 $ 1,397,255.06 986,364 37,745,560
149 37,745,560 $ 400,427 $ 1,397,255.06 996,828 36,748,733
150 36,748,733 $ 389,853 $ 1,397,255.06 1,007,403 35,741,330
151 35,741,330 $ 379,165 $ 1,397,255.06 1,018,090 34,723,240
152 34,723,240 $ 368,365 $ 1,397,255.06 1,028,890 33,694,350
153 33,694,350 $ 357,450 $ 1,397,255.06 1,039,805 32,654,545
154 32,654,545 $ 346,419 $ 1,397,255.06 1,050,836 31,603,709
155 31,603,709 $ 335,271 $ 1,397,255.06 1,061,984 30,541,725
156 30,541,725 $ 324,005 $ 1,397,255.06 1,073,250 29,468,475
157 29,468,475 $ 312,619 $ 1,397,255.06 1,084,636 28,383,839
158 28,383,839 $ 301,113 $ 1,397,255.06 1,096,142 27,287,696
159 27,287,696 $ 289,484 $ 1,397,255.06 1,107,771 26,179,925
160 26,179,925 $ 277,732 $ 1,397,255.06 1,119,523 25,060,403
161 25,060,403 $ 265,856 $ 1,397,255.06 1,131,399 23,929,003
162 23,929,003 $ 253,853 $ 1,397,255.06 1,143,402 22,785,601
163 22,785,601 $ 241,723 $ 1,397,255.06 1,155,532 21,630,070
164 21,630,070 $ 229,465 $ 1,397,255.06 1,167,790 20,462,279
165 20,462,279 $ 217,076 $ 1,397,255.06 1,180,179 19,282,100
166 19,282,100 $ 204,556 $ 1,397,255.06 1,192,699 18,089,401
167 18,089,401 $ 191,903 $ 1,397,255.06 1,205,352 16,884,049
168 16,884,049 $ 179,116 $ 1,397,255.06 1,218,139 15,665,910
169 15,665,910 $ 166,193 $ 1,397,255.06 1,231,062 14,434,849
170 14,434,849 $ 153,133 $ 1,397,255.06 1,244,122 13,190,727
171 13,190,727 $ 139,935 $ 1,397,255.06 1,257,320 11,933,407
172 11,933,407 $ 126,597 $ 1,397,255.06 1,270,658 10,662,749
173 10,662,749 $ 113,117 $ 1,397,255.06 1,284,138 9,378,610
174 9,378,610 $ 99,494 $ 1,397,255.06 1,297,761 8,080,849
175 8,080,849 $ 85,726 $ 1,397,255.06 1,311,529 6,769,321
176 6,769,321 $ 71,813 $ 1,397,255.06 1,325,442 5,443,879
177 5,443,879 $ 57,752 $ 1,397,255.06 1,339,503 4,104,376
178 4,104,376 $ 43,542 $ 1,397,255.06 1,353,713 2,750,662
179 2,750,662 $ 29,181 $ 1,397,255.06 1,368,074 1,382,588
180 1,382,588 $ 14,667 $ 1,397,255.06 1,382,588 - 0
315
El gerente de finanzas de cierta empresa manufacturera deposita $163.500.000 en una institución bancaria que
¿Cuánto podrá acumular (incluyendo los intereses devengados) si retira su dinero 7 meses después de haberlo d
bajo la modalidad de interés compuesto.

EFECTIVA 14.00% ANUAL EFECTIVA 6.00%

NOMINAL 13.17% FACTOR=12 NOMINAL 5.84%
PERIODICA 1.10% MENSUAL PERIODICA 0.49%
VPRESENTE 163,500,000 VPRESENTE 163,500,000
VFUTURO 176,486,810 VFUTURO 169,152,925
TIEMPO 7 MESES TIEMPO 7
CUOTA 24,394,080 CUOTA 23,814,119
# CAMBIO 12,986,810 # CAMBIO 5,652,925
% END-RENTA 7.94% % END-RENTA 3.46%

Una persona deposita $23.500.000 en una institución bancaria que paga el 21% nominal anual. ¿Cuánto podrá a
devengados) si retira su dinero 9 meses después de haberlo depositado?

EFECTIVA 21.00% ANUAL EFECTIVA 6.00%

NOMINAL 19.21% FACTOR=12 NOMINAL 5.84%
PERIODICA 1.60% MENSUAL PERIODICA 0.49%
VPRESENTE 23,500,000 VPRESENTE 23,500,000
VFUTURO 27,111,709 VFUTURO 24,549,761
TIEMPO 9 MESES TIEMPO 9
CUOTA 2,824,581 CUOTA 2,675,071
# CAMBIO 3,611,709 # CAMBIO 1,049,761
% END-RENTA 15.37% % END-RENTA 4.47%

Una persona obtiene un préstamo de $75.000.000 y acepta liquidarlo año y medio después. Acuerda que mientr
simple mensual de 3.4%. ¿Cuánto deberá pagar de interés cada mes?

EFECTIVA ANUAL EFECTIVA 30.00%

NOMINAL 40.80% FACTOR=12 NOMINAL 26.53%
PERIODICA 3.40% MENSUAL PERIODICA 2.21%
VPRESENTE 75,000,000 VPRESENTE 75,000,000
VFUTURO 136,908,673 VFUTURO 91,310,091
TIEMPO 18 MESES TIEMPO 9
CUOTA INT 2,550,000 CUOTA INT 1,657,834
# CAMBIO 61,908,673 # CAMBIO 16,310,091
% END-RENTA 82.54% % END-RENTA 21.75%

Calcula el interés simple comercial de $300.000 desde el 18 de marzo al 18 de junio del mismo año al 3.4% men
EFECTIVA
NOMINAL 13.60% TRIMESTARL
PERIODICA 3.40%
VPRESENTE 300,000
VFUTURO 331,652
TIEMPO 3
CUOTA 106,876
# CAMBIO 31,652
% END-RENTA 10.55%

Que tan rentable es un documento que hoy se puede comprar en $54.000.000 el cual devolverá a cabo de 3 año

EFECTIVA EFECTIVA 6.00%

NOMINAL 10.09% ANUAL NOMINAL 5.84%
PERIODICA 0.84% PERIODICA 0.49%
VPRESENTE 54,000,000 VPRESENTE 54,000,000
VFUTURO 73,000,000 VFUTURO 73,000,000
TIEMPO 36 TIEMPO 62
CUOTA 1,744,746 CUOTA 1,009,889
# CAMBIO 19,000,000 # CAMBIO 19,000,000
% END-RENTA 35.19% % END-RENTA 35.19%

Por medio de un pagaré nos comprometimos a cancelar después de un año y medio un valor de $ 3.285.000. Si
anual hallar el valor inicial de la obligación. Calcular bajo la modalidad de interés mensual y bimestral.

EFECTIVA 19.56% ANUAL EFECTIVA 9.34% BIMESTRAL

NOMINAL 18.00% NOMINAL 9.00%
PERIODICA 1.50% PERIODICA 1.50%
VPRESENTE $2,512,734.56 VPRESENTE $2,512,734.56
VFUTURO $ 3,285,000.00 VFUTURO $ 3,285,000.00
TIEMPO 18 TIEMPO 18 MESES
CUOTA $ 160,326.99 CUOTA $ 160,326.99
# CAMBIO $ 772,265 # CAMBIO $ 772,265
% END-RENTA 30.73% % END-RENTA 30.73%

Carlos Ávila desea saber cuánto le prestan hoy si le dicen que le cobran una tasa del 18% efectiva anual, y le pr
final del crédito debe cancelar la suma de $11.250.000.

EFECTIVA 18.00% ANUL

NOMINAL 16.67% FACTOR 12
PERIODICA 1.39%
VPRESENTE $9,936,673.43
VFUTURO $ 11,250,000.00
TIEMPO 9
CUOTA $ 1,182,153.78
# CAMBIO $ 1,313,327
% END-RENTA 13.22%
00 en una institución bancaria que paga el 14% de interés efectiva anual.
nero 7 meses después de haberlo depositado?. Así mismo realice el cálculo

ANUAL POR DEPOSITAR $ 163.500.0000 A UNA TASA DE INTERES 1.10% MENSUAL RECIBIRA $ 176.486.8
FACTOR=12 CON UNA RENTABILIDAD 7.94% PERO SI LO LLEVAMOS A UN SEGUNDO MERCADO COMO EN LOS
MENSUAL OBTENDREMOS UNA TASA DEL 0.49% MENSUAL CON UNA RENTABILIDAD DEL 3.46%.

MESES

% nominal anual. ¿Cuánto podrá acumular (incluyendo los intereses

ANUAL POR DEPOSITAR $ 23.500.000 A UNA TASA DE INTERES 1.60% MENSUAL RECIBIRA $ 27.111.709
FACTOR=12 CON UNA RENTABILIDAD 15.37% PERO SI LO LLEVAMOS A UN SEGUNDO MERCADO COMO EN LO
MENSUAL OBTENDREMOS UNA TASA DEL 0.49% MENSUAL CON UNA RENTABILIDAD DEL 4.47%.

MESES

edio después. Acuerda que mientras exista el adeudo pagará un interés

ANUAL POR ABQUIRIR UN CREDITO CON UNA TASA DE INTERES 3.40% DEBERA CANCELAR MENSUALME
FACTOR=12 CON UN 82.54% DE ENDEUDAMIENTO PERO TRAS UN SEGUNDO ESCENARIO LA TASA DE USURA
MENSUAL EN LO COMERCIAL ESTA A PROXIMANDAMENTE A 30% A 31% EFECTIVA ANUAL CON UN INTERESE
Y SE CANCELARIA UN INTERES MENSUAL DEL 1.657.834 CON UN CAPACIDAD DE ENDEDAMIENTO

MESES

e junio del mismo año al 3.4% mensual

0 el cual devolverá a cabo de 3 años la suma de $73.000.000?

ANUAL EN EL ACABO DE TRES AÑOS POR UN DOCUMENTO DE 54.000.000 SE PUEDE OBTENER UNA RENT
EN UN SEGUNDO PLANO SI ESE DOCUMENTO SE INVIRTIERA EN CDT PARA OBTERNER UNA RENTA
SE DEBEN ESPERAR ALREDEDOR DE 5 AÑOS PARA RECIBIR UNA SUMA DE 73.000.000

MESES
5.1666666667

7.037%
0.586%

medio un valor de $ 3.285.000. Si la tasa de interés es del 18% nominal

és mensual y bimestral.

SI SE ADQUIERE A DONDE SU VALOR FUTURO ES 3.285.000 CON UNA TASA DEL 1.50% EL VALOR I
ES DE 2.512.735

asa del 18% efectiva anual, y le prestan por nueve meses el dinero, si al
SUAL RECIBIRA $ 176.486.810
O MERCADO COMO EN LOS CDT
DAD DEL 3.46%.

AL RECIBIRA $ 27.111.709
DO MERCADO COMO EN LOS CDT
DAD DEL 4.47%.

RA CANCELAR MENSUALMENTE UN INTERES DE 2.550.0000

NARIO LA TASA DE USURA DE UN CREDITO ORDINARIO
A ANUAL CON UN INTERESES DEL 2.21% MENSUAL
CIDAD DE ENDEDAMIENTO DEL 21.76%
PUEDE OBTENER UNA RENTABILIDAD DEL 35.19%
ARA OBTERNER UNA RENTABILIDAD DEL 35.19%
DE 73.000.000

TASA DEL 1.50% EL VALOR INICIAL DE LA DEUDA

TALLER 3

PUNTO ·1
OPCION 1

EFECTIVA 26.50% ANUAL

NOMINAL 23.74% FACTOR=12
PERIODICA 1.98% MENSUAL
VPRESENTE 52,400,000
VFUTURO 81,637,597
TIEMPO 48 MESES
CUOTA $ 1,700,783.28
# CAMBIO 29,237,597
% END-RENTA 55.80%

TENIENDO EN LOS TRES ESCENARIOS LA OPCION 3 ES LA MAS FOVARABLE POR QUE TENEMOS NIVEL DE END
NO OBSTANTE O TENIENDO EN CUENTA QUE EL TRECER ESENARTIO ES MEJOR, LA TASA NO ESTA ACORDE AL

SE PUEDE OBSERVAR QUE UNA VEZ CALCULADO LOS VALORES FUTUROS, EN LA OPCION ·3 SE TERMINARIA P
EL MAYOR NIVEL DE ENDEUDAMIENTO SE PRESENTA EN LA OPCION 2 SIENDO ESTE DEL 69% LA MEJOR 26,26

TIEMPO VALOR INICIAL INTERES CUOTA AMORTIZACION

-
1 52,400,000.00 1,036,602 $ 1,700,783 664,182
2 51,735,818.35 1,023,462 $ 1,700,783 677,321
3 51,058,497.54 1,010,063 $ 1,700,783 690,720
4 50,367,777.65 996,399 $ 1,700,783 704,384
5 49,663,393.61 982,465 $ 1,700,783 718,318
6 48,945,075.11 968,255 $ 1,700,783 732,529
7 48,212,546.49 953,763 $ 1,700,783 747,020
8 47,465,526.65 938,986 $ 1,700,783 761,798
9 46,703,728.91 923,915 $ 1,700,783 776,868
10 45,926,860.92 908,547 $ 1,700,783 792,236
11 45,134,624.56 892,875 $ 1,700,783 807,909
12 44,326,715.81 876,892 $ 1,700,783 823,891
13 43,502,824.63 860,593 $ 1,700,783 840,190
14 42,662,634.83 843,972 $ 1,700,783 856,811
15 41,805,824.01 827,023 $ 1,700,783 873,761
16 40,932,063.35 809,737 $ 1,700,783 891,046
17 40,041,017.54 792,110 $ 1,700,783 908,673
18 39,132,344.64 774,135 $ 1,700,783 926,649
19 38,205,695.94 755,803 $ 1,700,783 944,980
20 37,260,715.84 737,109 $ 1,700,783 963,674
21 36,297,041.70 718,045 $ 1,700,783 982,738
22 35,314,303.69 698,604 $ 1,700,783 1,002,179
23 34,312,124.70 678,779 $ 1,700,783 1,022,005
24 33,290,120.13 658,561 $ 1,700,783 1,042,222
25 32,247,897.78 637,943 $ 1,700,783 1,062,840
26 31,185,057.69 616,918 $ 1,700,783 1,083,866
27 30,101,192.00 595,476 $ 1,700,783 1,105,307
28 28,995,884.76 573,610 $ 1,700,783 1,127,173
29 27,868,711.81 551,312 $ 1,700,783 1,149,471
30 26,719,240.59 528,573 $ 1,700,783 1,172,211
31 25,547,029.99 505,383 $ 1,700,783 1,195,400
32 24,351,630.16 481,735 $ 1,700,783 1,219,048
33 23,132,582.37 457,620 $ 1,700,783 1,243,164
34 21,889,418.80 433,027 $ 1,700,783 1,267,756
35 20,621,662.37 407,947 $ 1,700,783 1,292,836
36 19,328,826.59 382,372 $ 1,700,783 1,318,411
37 18,010,415.32 356,291 $ 1,700,783 1,344,493
38 16,665,922.61 329,693 $ 1,700,783 1,371,090
39 15,294,832.50 302,570 $ 1,700,783 1,398,214
40 13,896,618.85 274,909 $ 1,700,783 1,425,874
41 12,470,745.07 246,702 $ 1,700,783 1,454,081
42 11,016,663.98 217,937 $ 1,700,783 1,482,846
43 9,533,817.57 188,602 $ 1,700,783 1,512,181
44 8,021,636.78 158,688 $ 1,700,783 1,542,095
45 6,479,541.33 128,181 $ 1,700,783 1,572,602
46 4,906,939.40 97,071 $ 1,700,783 1,603,712
47 3,303,227.53 65,346 $ 1,700,783 1,635,437
48 1,667,790.26 32,993 $ 1,700,783 1,667,790
 OPCION ·2 OPCION ·3
23.40% 9.78%
EFECTIVA 5.85% TRIMESTRAL EFECTIVA 4.89%
NOMINAL 5.74% FACTOR=3 NOMINAL 4.79%
PERIODICA 1.91% MENSUAL PERIODICA 0.80%
VPRESENTE 52,400,000 VPRESENTE 52,400,000
VFUTURO 88,554,946 VFUTURO 66,162,816
TIEMPO 60 MESES TIEMPO 60
CUOTA $ 1,475,915.77 CUOTA $ 1,102,713.59
# CAMBIO 36,154,946 # CAMBIO 13,762,816
% END-RENTA 69.00% % END-RENTA 26.26%

QUE TENEMOS NIVEL DE ENDEDAUMENTO 26,26%

A TASA NO ESTA ACORDE AL MERCADO POR LO TANTO SE SE

OPCION ·3 SE TERMINARIA PAGANDO 66,162,816 PUESTO QUE ESTA ES LA MAS ATRACTIVA PORQUE TERMINARIA PAGANDO 13,762816
STE DEL 69% LA MEJOR 26,26%

SALDO
52,400,000
51,735,818
51,058,498
50,367,778
49,663,394
48,945,075
48,212,546
47,465,527
46,703,729
45,926,861
45,134,625
44,326,716
43,502,825
42,662,635
41,805,824
40,932,063
40,041,018
39,132,345
38,205,696
37,260,716
36,297,042
35,314,304
34,312,125
33,290,120 INTERESES CUOTAS AMORTIZACION
32,247,898 20,666,696 40,818,799 20,152,102
31,185,058
30,101,192
28,995,885
27,868,712
26,719,241
25,547,030
24,351,630
23,132,582
21,889,419
20,621,662
19,328,827
18,010,415
16,665,923
15,294,833
13,896,619
12,470,745
11,016,664
9,533,818
8,021,637
6,479,541
4,906,939
3,303,228
1,667,790
0
 OPCION ·4
13.78%
SEMESTRAL EFECTIVA 6.89% SEMESTRAL
FACTOR=6 NOMINAL 6.70% FACTOR=6
MENSUAL PERIODICA 1.12% MENSUAL
VPRESENTE 52,400,000
VFUTURO 67,977,286
MESES TIEMPO 48 MESES
CUOTA $ 1,416,193.46
# CAMBIO 15,577,286
% END-RENTA 29.73%

RIA PAGANDO 13,762816

TALLER 3
PUNTO ·1

OPCION 1 OPCION 2
13.50%
EFECTIVA 6.75% SEMESTRAL EFECTIVA
NOMINAL 6.57% FACTOR=6 NOMINAL
PERIODICA 1.09% MENSUAL PERIODICA
VPRESENTE 30,000,000 VPRESENTE
VFUTURO 38,957,653 VFUTURO
TIEMPO 24 MESES TIEMPO
# CAMBIO 8,957,653 # CAMBIO
% END-RENTA 29.86% % END-RENTA

ANALISIS

Se puede observar que la primera opcion es la mejor alternativa de rentabilidad siendo esta 29,86% al cado de
 OPCION 2
11.20%
10.62% ANUAL EFECTIVA 2.80% TRIMESTRAL
10.22% FACTOR=4 NOMINAL 2.77% FACTOR=3
2.56% TRIMESTRES PERIODICA 0.92% MESES
30,000,000 VPRESENTE 30,000,000
34,903,722 VFUTURO 33,503,773
6 TRIMESTRES TIEMPO 12 MESES
4,903,722 # CAMBIO 3,503,773
16.35% % END-RENTA 11.68%

ndo esta 29,86% al cado de 24 meses por haber llevado 3000000

ALTERNATIVA 1
6.00%
EFECTIVA 3.00% SEMESTRAL
NOMINAL 2.96% FACTOR=6
PERIODICA 0.49% MENSUAL
VPRESENTE 30,000,000 127,890
VFUTURO 31,827,000
TIEMPO 12 MESES
# CAMBIO 1,827,000 1,699,110
% END-RENTA 6.09%
TALLER 3
PUNTO ·1

OPCION 1 OPCION 2

EFECTIVA 10.85% ANUAL EFECTIVA

NOMINAL 10.35% FACTOR=12 NOMINAL
PERIODICA 0.86% MENSUAL PERIODICA
VPRESENTE 170,000,000 VPRESENTE
VFUTURO 335,319,737 VFUTURO
CUOTA 1,862,887 CUOTA
TIEMPO 180 MESES TIEMPO
# CAMBIO 165,319,737 # CAMBIO
% END-RENTA 97.25% % END-RENTA
 ALTERNATIVA 1
7.56%
1.89% TRIMESTRAL EFECTIVA 12.00%
1.88% FACTOR=3 NOMINAL 11.39%
0.63% MENSUAL PERIODICA 0.95%
170,000,000 VPRESENTE 170,000,000
329,003,073 VFUTURO 355,262,126
1,370,846 CUOTA 1,973,678
240 MESES TIEMPO 180
159,003,073 # CAMBIO 185,262,126
93.53% % END-RENTA 108.98%
 ANUAL

MENSUAL

MESES
COMPRA DE VEHICULO 57,000,000 72 MESES CUOTAS FIJAS
OP 27.20% E.A 80%
OP 8.50% E.S 80%
OP 2.80% E.T 80%

EFECTIVA 27.20% ANUAL

NOMINAL 24.30% FACTOR =12
PERIODICA 2.03%
VALOR PRESENTE 45,600,000
VALOR FUTURO 87,038,848
CUOTA $ 1,208,873
TIEMPO 72 MESES
# EN CAMBIO 41,438,848
% ENDEUDAMIENTO 90.87%

TIEMPO V.INICIAL INTERESES CUOTA AMORTIZADO SALDO

0 - 45,600,000
1 45,600,000 923,470 $ 1,208,873 285,403 45,314,597
2 45,314,597 917,690 $ 1,208,873 291,182 45,023,415
3 45,023,415 911,794 $ 1,208,873 297,079 44,726,336
4 44,726,336 905,777 $ 1,208,873 303,096 44,423,240
5 44,423,240 899,639 $ 1,208,873 309,234 44,114,006
6 44,114,006 893,377 $ 1,208,873 315,496 43,798,510
7 43,798,510 886,987 $ 1,208,873 321,886 43,476,624
8 43,476,624 880,469 $ 1,208,873 328,404 43,148,220
9 43,148,220 873,818 $ 1,208,873 335,055 42,813,165
10 42,813,165 867,033 $ 1,208,873 341,840 42,471,325
11 42,471,325 860,110 $ 1,208,873 348,763 42,122,561
12 42,122,561 853,047 $ 1,208,873 355,826 41,766,735
13 41,766,735 845,841 $ 1,208,873 363,032 41,403,703
14 41,403,703 838,489 $ 1,208,873 370,384 41,033,319
15 41,033,319 830,988 $ 1,208,873 377,885 40,655,434
16 40,655,434 823,335 $ 1,208,873 385,538 40,269,896
17 40,269,896 815,527 $ 1,208,873 393,345 39,876,551
18 39,876,551 807,562 $ 1,208,873 401,311 39,475,240
19 39,475,240 799,434 $ 1,208,873 409,438 39,065,801
20 39,065,801 791,143 $ 1,208,873 417,730 38,648,071
21 38,648,071 782,683 $ 1,208,873 426,190 38,221,881
22 38,221,881 774,052 $ 1,208,873 434,821 37,787,060
23 37,787,060 765,246 $ 1,208,873 443,627 37,343,434
24 37,343,434 756,262 $ 1,208,873 452,611 36,890,823
25 36,890,823 747,096 $ 1,208,873 461,777 36,429,046
26 36,429,046 737,744 $ 1,208,873 471,129 35,957,917
27 35,957,917 728,203 $ 1,208,873 480,670 35,477,248
28 35,477,248 718,469 $ 1,208,873 490,404 34,986,844
29 34,986,844 708,537 $ 1,208,873 500,335 34,486,508
30 34,486,508 698,405 $ 1,208,873 510,468 33,976,040
31 33,976,040 688,067 $ 1,208,873 520,806 33,455,235
32 33,455,235 677,520 $ 1,208,873 531,353 32,923,882
33 32,923,882 666,759 $ 1,208,873 542,114 32,381,768
34 32,381,768 655,781 $ 1,208,873 553,092 31,828,676
35 31,828,676 644,580 $ 1,208,873 564,293 31,264,383
36 31,264,383 633,152 $ 1,208,873 575,721 30,688,662
37 30,688,662 621,493 $ 1,208,873 587,380 30,101,282
38 30,101,282 609,597 $ 1,208,873 599,276 29,502,006
39 29,502,006 597,461 $ 1,208,873 611,412 28,890,594
40 28,890,594 585,079 $ 1,208,873 623,794 28,266,800
41 28,266,800 572,446 $ 1,208,873 636,427 27,630,374
42 27,630,374 559,558 $ 1,208,873 649,315 26,981,059
43 26,981,059 546,408 $ 1,208,873 662,465 26,318,594
44 26,318,594 532,992 $ 1,208,873 675,881 25,642,713
45 25,642,713 519,304 $ 1,208,873 689,568 24,953,144
46 24,953,144 505,340 $ 1,208,873 703,533 24,249,611
47 24,249,611 491,092 $ 1,208,873 717,781 23,531,830
48 23,531,830 476,556 $ 1,208,873 732,317 22,799,513
49 22,799,513 461,725 $ 1,208,873 747,148 22,052,366
50 22,052,366 446,594 $ 1,208,873 762,279 21,290,087
51 21,290,087 431,157 $ 1,208,873 777,716 20,512,371
52 20,512,371 415,407 $ 1,208,873 793,466 19,718,906
53 19,718,906 399,338 $ 1,208,873 809,535 18,909,371
54 18,909,371 382,944 $ 1,208,873 825,929 18,083,442
55 18,083,442 366,218 $ 1,208,873 842,655 17,240,787
56 17,240,787 349,152 $ 1,208,873 859,720 16,381,066
57 16,381,066 331,742 $ 1,208,873 877,131 15,503,935
58 15,503,935 313,979 $ 1,208,873 894,894 14,609,041
59 14,609,041 295,856 $ 1,208,873 913,017 13,696,024
60 13,696,024 277,366 $ 1,208,873 931,507 12,764,516
61 12,764,516 258,501 $ 1,208,873 950,372 11,814,144
62 11,814,144 239,255 $ 1,208,873 969,618 10,844,526
63 10,844,526 219,618 $ 1,208,873 989,255 9,855,272
64 9,855,272 199,584 $ 1,208,873 1,009,288 8,845,983
65 8,845,983 179,145 $ 1,208,873 1,029,728 7,816,255
66 7,816,255 158,291 $ 1,208,873 1,050,582 6,765,673
67 6,765,673 137,015 $ 1,208,873 1,071,858 5,693,816
68 5,693,816 115,309 $ 1,208,873 1,093,564 4,600,252
69 4,600,252 93,162 $ 1,208,873 1,115,711 3,484,541
70 3,484,541 70,567 $ 1,208,873 1,138,306 2,346,235
71 2,346,235 47,515 $ 1,208,873 1,161,358 1,184,877
72 1,184,877 23,996 $ 1,208,873 1,184,877 - 0
41,438,848 $ 87,038,848 45,600,000
COMPRA DE VEHICULO 57,000,000 72 MESES CUOTAS FIJAS
OP 27.20% E.A 80%
OP 8.50% E.S 80%
OP 2.80% E.T 80%

17.00%
EFECTIVA 8.50% SEMESTRAL
NOMINAL 8.21% FACTOR = 6
PERIODICA 1.37%
VALOR PRESENTE 45,600,000
VALOR FUTURO 71,993,515
CUOTA $ 999,910
TIEMPO 72 MESES
# EN CAMBIO 26,393,515
% ENDEUDAMIENTO 57.88%

TIEMPO V.INICIAL INTERESES CUOTA AMORTIZADO SALDO

0 - 45,600,000
1 45,600,000 624,242 $ 999,910 375,668 45,224,332
2 45,224,332 619,099 $ 999,910 380,811 44,843,522
3 44,843,522 613,886 $ 999,910 386,024 44,457,498
4 44,457,498 608,602 $ 999,910 391,308 44,066,190
5 44,066,190 603,245 $ 999,910 396,665 43,669,525
6 43,669,525 597,815 $ 999,910 402,095 43,267,430
7 43,267,430 592,310 $ 999,910 407,600 42,859,830
8 42,859,830 586,730 $ 999,910 413,179 42,446,651
9 42,446,651 581,074 $ 999,910 418,836 42,027,815
10 42,027,815 575,341 $ 999,910 424,569 41,603,246
11 41,603,246 569,528 $ 999,910 430,381 41,172,864
12 41,172,864 563,637 $ 999,910 436,273 40,736,591
13 40,736,591 557,664 $ 999,910 442,246 40,294,345
14 40,294,345 551,610 $ 999,910 448,300 39,846,046
15 39,846,046 545,473 $ 999,910 454,437 39,391,609
16 39,391,609 539,252 $ 999,910 460,658 38,930,951
17 38,930,951 532,946 $ 999,910 466,964 38,463,987
18 38,463,987 526,554 $ 999,910 473,356 37,990,631
19 37,990,631 520,073 $ 999,910 479,836 37,510,794
20 37,510,794 513,505 $ 999,910 486,405 37,024,389
21 37,024,389 506,846 $ 999,910 493,064 36,531,325
22 36,531,325 500,096 $ 999,910 499,814 36,031,512
23 36,031,512 493,254 $ 999,910 506,656 35,524,856
24 35,524,856 486,318 $ 999,910 513,592 35,011,264
25 35,011,264 479,287 $ 999,910 520,623 34,490,641
26 34,490,641 472,160 $ 999,910 527,750 33,962,892
27 33,962,892 464,936 $ 999,910 534,974 33,427,918
28 33,427,918 457,612 $ 999,910 542,298 32,885,620
29 32,885,620 450,188 $ 999,910 549,722 32,335,898
30 32,335,898 442,663 $ 999,910 557,247 31,778,651
31 31,778,651 435,034 $ 999,910 564,875 31,213,776
32 31,213,776 427,302 $ 999,910 572,608 30,641,167
33 30,641,167 419,463 $ 999,910 580,447 30,060,720
34 30,060,720 411,517 $ 999,910 588,393 29,472,327
35 29,472,327 403,462 $ 999,910 596,448 28,875,879
36 28,875,879 395,297 $ 999,910 604,613 28,271,266
37 28,271,266 387,020 $ 999,910 612,890 27,658,376
38 27,658,376 378,630 $ 999,910 621,280 27,037,096
39 27,037,096 370,125 $ 999,910 629,785 26,407,311
40 26,407,311 361,503 $ 999,910 638,407 25,768,905
41 25,768,905 352,764 $ 999,910 647,146 25,121,759
42 25,121,759 343,905 $ 999,910 656,005 24,465,753
43 24,465,753 334,924 $ 999,910 664,986 23,800,768
44 23,800,768 325,821 $ 999,910 674,089 23,126,679
45 23,126,679 316,593 $ 999,910 683,317 22,443,362
46 22,443,362 307,239 $ 999,910 692,671 21,750,691
47 21,750,691 297,757 $ 999,910 702,153 21,048,538
48 21,048,538 288,144 $ 999,910 711,766 20,336,772
49 20,336,772 278,401 $ 999,910 721,509 19,615,263
50 19,615,263 268,524 $ 999,910 731,386 18,883,876
51 18,883,876 258,511 $ 999,910 741,399 18,142,478
52 18,142,478 248,362 $ 999,910 751,548 17,390,930
53 17,390,930 238,073 $ 999,910 761,836 16,629,093
54 16,629,093 227,644 $ 999,910 772,266 15,856,828
55 15,856,828 217,072 $ 999,910 782,838 15,073,990
56 15,073,990 206,356 $ 999,910 793,554 14,280,436
57 14,280,436 195,492 $ 999,910 804,418 13,476,018
58 13,476,018 184,480 $ 999,910 815,430 12,660,588
59 12,660,588 173,317 $ 999,910 826,593 11,833,996
60 11,833,996 162,002 $ 999,910 837,908 10,996,088
61 10,996,088 150,531 $ 999,910 849,379 10,146,709
62 10,146,709 138,904 $ 999,910 861,006 9,285,702
63 9,285,702 127,117 $ 999,910 872,793 8,412,909
64 8,412,909 115,169 $ 999,910 884,741 7,528,168
65 7,528,168 103,057 $ 999,910 896,853 6,631,315
66 6,631,315 90,780 $ 999,910 909,130 5,722,185
67 5,722,185 78,334 $ 999,910 921,576 4,800,609
68 4,800,609 65,718 $ 999,910 934,192 3,866,417
69 3,866,417 52,929 $ 999,910 946,981 2,919,436
70 2,919,436 39,966 $ 999,910 959,944 1,959,492
71 1,959,492 26,825 $ 999,910 973,085 986,407
72 986,407 13,503 $ 999,910 986,407 0
26,393,515 $ 71,993,515 45,600,000
COMPRA DE VEHICULO 57,000,000 72 MESES CUOTAS FIJAS
OP 27.20% E.A 80%
OP 8.50% E.S 80%
OP 2.80% E.T 80%

11%
EFECTIVA 2.80% SEMESTRAL
NOMINAL 2.77% FACTOR = 3
PERIODICA 0.92% MESUAL
VALOR PRESENTE 45,600,000
VALOR FUTURO 62,656,033
CUOTA $ 870,223
TIEMPO 72 MESES
# EN CAMBIO 17,056,033
% ENDEUDAMIENTO 37.40%

TIEMPO V.INICIAL INTERESES CUOTA AMORTIZADO SALDO

0 - 45,600,000
1 45,600,000 421,688 $ 870,223 448,534 45,151,466
2 45,151,466 417,541 $ 870,223 452,682 44,698,784
3 44,698,784 413,354 $ 870,223 456,868 44,241,915
4 44,241,915 409,129 $ 870,223 461,093 43,780,822
5 43,780,822 404,865 $ 870,223 465,357 43,315,465
6 43,315,465 400,562 $ 870,223 469,661 42,845,804
7 42,845,804 396,219 $ 870,223 474,004 42,371,800
8 42,371,800 391,835 $ 870,223 478,387 41,893,413
9 41,893,413 387,412 $ 870,223 482,811 41,410,602
10 41,410,602 382,947 $ 870,223 487,276 40,923,326
11 40,923,326 378,441 $ 870,223 491,782 40,431,544
12 40,431,544 373,893 $ 870,223 496,330 39,935,214
13 39,935,214 369,303 $ 870,223 500,920 39,434,294
14 39,434,294 364,671 $ 870,223 505,552 38,928,742
15 38,928,742 359,996 $ 870,223 510,227 38,418,515
16 38,418,515 355,277 $ 870,223 514,945 37,903,570
17 37,903,570 350,515 $ 870,223 519,707 37,383,862
18 37,383,862 345,709 $ 870,223 524,513 36,859,349
19 36,859,349 340,859 $ 870,223 529,364 36,329,985
20 36,329,985 335,963 $ 870,223 534,259 35,795,726
21 35,795,726 331,023 $ 870,223 539,200 35,256,526
22 35,256,526 326,037 $ 870,223 544,186 34,712,340
23 34,712,340 321,004 $ 870,223 549,218 34,163,121
24 34,163,121 315,925 $ 870,223 554,297 33,608,824
25 33,608,824 310,799 $ 870,223 559,423 33,049,401
26 33,049,401 305,626 $ 870,223 564,597 32,484,804
27 32,484,804 300,405 $ 870,223 569,818 31,914,986
28 31,914,986 295,136 $ 870,223 575,087 31,339,899
29 31,339,899 289,817 $ 870,223 580,405 30,759,494
30 30,759,494 284,450 $ 870,223 585,773 30,173,721
31 30,173,721 279,033 $ 870,223 591,190 29,582,532
32 29,582,532 273,566 $ 870,223 596,657 28,985,875
33 28,985,875 268,048 $ 870,223 602,174 28,383,701
34 28,383,701 262,480 $ 870,223 607,743 27,775,958
35 27,775,958 256,860 $ 870,223 613,363 27,162,595
36 27,162,595 251,188 $ 870,223 619,035 26,543,559
37 26,543,559 245,463 $ 870,223 624,760 25,918,800
38 25,918,800 239,685 $ 870,223 630,537 25,288,263
39 25,288,263 233,855 $ 870,223 636,368 24,651,894
40 24,651,894 227,970 $ 870,223 642,253 24,009,641
41 24,009,641 222,030 $ 870,223 648,192 23,361,449
42 23,361,449 216,036 $ 870,223 654,186 22,707,263
43 22,707,263 209,987 $ 870,223 660,236 22,047,027
44 22,047,027 203,881 $ 870,223 666,342 21,380,685
45 21,380,685 197,719 $ 870,223 672,504 20,708,181
46 20,708,181 191,500 $ 870,223 678,723 20,029,459
47 20,029,459 185,223 $ 870,223 684,999 19,344,459
48 19,344,459 178,889 $ 870,223 691,334 18,653,126
49 18,653,126 172,496 $ 870,223 697,727 17,955,399
50 17,955,399 166,043 $ 870,223 704,179 17,251,219
51 17,251,219 159,532 $ 870,223 710,691 16,540,528
52 16,540,528 152,959 $ 870,223 717,263 15,823,265
53 15,823,265 146,326 $ 870,223 723,896 15,099,369
54 15,099,369 139,632 $ 870,223 730,590 14,368,778
55 14,368,778 132,876 $ 870,223 737,347 13,631,432
56 13,631,432 126,057 $ 870,223 744,165 12,887,266
57 12,887,266 119,176 $ 870,223 751,047 12,136,219
58 12,136,219 112,230 $ 870,223 757,992 11,378,227
59 11,378,227 105,221 $ 870,223 765,002 10,613,225
60 10,613,225 98,146 $ 870,223 772,076 9,841,149
61 9,841,149 91,007 $ 870,223 779,216 9,061,933
62 9,061,933 83,801 $ 870,223 786,422 8,275,511
63 8,275,511 76,528 $ 870,223 793,694 7,481,816
64 7,481,816 69,188 $ 870,223 801,034 6,680,782
65 6,680,782 61,781 $ 870,223 808,442 5,872,340
66 5,872,340 54,305 $ 870,223 815,918 5,056,422
67 5,056,422 46,760 $ 870,223 823,463 4,232,959
68 4,232,959 39,145 $ 870,223 831,078 3,401,881
69 3,401,881 31,459 $ 870,223 838,764 2,563,117
70 2,563,117 23,703 $ 870,223 846,520 1,716,597
71 1,716,597 15,874 $ 870,223 854,348 862,249
72 862,249 7,974 $ 870,223 862,249 0
17,056,033 $ 62,656,033 45,600,000
CAPITAL DE TRABAJO 72,000,000 CUOTAS FIJAS MENSULES
OP 4.85% BIMESTRAL 48 MESES
OP 1.90% MENSULA 48 MESES

29%
EFECTIVA 4.85%
NOMINAL 4.79% FACTOR = 2
PERIODICA 2.40% MENSUALES
VALOR PRESENTE 72,000,000
VALOR FUTURO 121,947,655
CUOTA $ 2,540,576
TIEMPO 48 MESES
# EN CAMBIO 49,947,655
% ENDEUDAMIENTO 69.37%

TIEMPO V.INICIAL INTERESES CUOTA AMORTIZADO

0 -
1 72,000,000 1,725,328 $ 2,540,576 815,248
2 71,184,752 1,705,792 $ 2,540,576 834,784
3 70,349,968 1,685,789 $ 2,540,576 854,788
4 69,495,181 1,665,305 $ 2,540,576 875,271
5 68,619,910 1,644,331 $ 2,540,576 896,245
6 67,723,665 1,622,855 $ 2,540,576 917,721
7 66,805,944 1,600,863 $ 2,540,576 939,713
8 65,866,231 1,578,345 $ 2,540,576 962,231
9 64,904,000 1,555,287 $ 2,540,576 985,289
10 63,918,711 1,531,677 $ 2,540,576 1,008,899
11 62,909,812 1,507,501 $ 2,540,576 1,033,075
12 61,876,737 1,482,745 $ 2,540,576 1,057,831
13 60,818,906 1,457,397 $ 2,540,576 1,083,179
14 59,735,727 1,431,441 $ 2,540,576 1,109,136
15 58,626,591 1,404,863 $ 2,540,576 1,135,714
16 57,490,878 1,377,648 $ 2,540,576 1,162,929
17 56,327,949 1,349,780 $ 2,540,576 1,190,796
18 55,137,153 1,321,246 $ 2,540,576 1,219,331
19 53,917,823 1,292,027 $ 2,540,576 1,248,549
20 52,669,273 1,262,108 $ 2,540,576 1,278,468
21 51,390,805 1,231,472 $ 2,540,576 1,309,104
22 50,081,701 1,200,102 $ 2,540,576 1,340,474
23 48,741,227 1,167,981 $ 2,540,576 1,372,595
24 47,368,632 1,135,089 $ 2,540,576 1,405,487
25 45,963,145 1,101,410 $ 2,540,576 1,439,166
26 44,523,979 1,066,923 $ 2,540,576 1,473,653
27 43,050,326 1,031,610 $ 2,540,576 1,508,966
28 41,541,360 995,451 $ 2,540,576 1,545,125
29 39,996,235 958,425 $ 2,540,576 1,582,151
30 38,414,084 920,512 $ 2,540,576 1,620,064
31 36,794,020 881,691 $ 2,540,576 1,658,885
32 35,135,135 841,939 $ 2,540,576 1,698,637
33 33,436,499 801,235 $ 2,540,576 1,739,341
34 31,697,157 759,555 $ 2,540,576 1,781,021
35 29,916,137 716,877 $ 2,540,576 1,823,699
36 28,092,438 673,176 $ 2,540,576 1,867,400
37 26,225,038 628,428 $ 2,540,576 1,912,148
38 24,312,889 582,607 $ 2,540,576 1,957,969
39 22,354,920 535,688 $ 2,540,576 2,004,888
40 20,350,032 487,646 $ 2,540,576 2,052,931
41 18,297,102 438,451 $ 2,540,576 2,102,125
42 16,194,977 388,078 $ 2,540,576 2,152,498
43 14,042,479 336,498 $ 2,540,576 2,204,078
44 11,838,402 283,682 $ 2,540,576 2,256,894
45 9,581,508 229,601 $ 2,540,576 2,310,976
46 7,270,532 174,223 $ 2,540,576 2,366,353
47 4,904,179 117,518 $ 2,540,576 2,423,058
48 2,481,121 59,455 $ 2,540,576 2,481,121
49,947,655 $ 121,947,655 72,000,000
 2.5

SALDO
72,000,000
71,184,752
70,349,968
69,495,181
68,619,910
67,723,665
66,805,944
65,866,231
64,904,000
63,918,711
62,909,812
61,876,737
60,818,906
59,735,727
58,626,591
57,490,878
56,327,949
55,137,153
53,917,823
52,669,273
51,390,805
50,081,701
48,741,227
47,368,632
45,963,145
44,523,979
43,050,326
41,541,360
39,996,235
38,414,084
36,794,020
35,135,135
33,436,499
31,697,157
29,916,137
28,092,438
26,225,038
24,312,889
22,354,920
20,350,032
18,297,102
16,194,977
14,042,479
11,838,402
9,581,508
7,270,532
4,904,179
2,481,121
0
CAPITAL DE TRABAJO 72,000,000 CUOTAS FIJAS MENSULES
OP 4.85% BIMESTRAL 48 MESES
OP 1.90% MENSUL 48 MESES

23%
EFECTIVA
NOMINAL FACTOR =
PERIODICA 1.90%
VALOR PRESENTE 72,000,000
VALOR FUTURO 110,391,531
CUOTA $ 2,299,824
TIEMPO 48 MESES
# EN CAMBIO 38,391,531
% ENDEUDAMIENTO 53.32%

TIEMPO V.INICIAL INTERESES CUOTA AMORTIZADO

0 -
1 72,000,000 1,368,000 $ 2,299,824 931,824
2 71,068,176 1,350,295 $ 2,299,824 949,528
3 70,118,648 1,332,254 $ 2,299,824 967,569
4 69,151,079 1,313,871 $ 2,299,824 985,953
5 68,165,126 1,295,137 $ 2,299,824 1,004,686
6 67,160,440 1,276,048 $ 2,299,824 1,023,775
7 66,136,665 1,256,597 $ 2,299,824 1,043,227
8 65,093,438 1,236,775 $ 2,299,824 1,063,048
9 64,030,389 1,216,577 $ 2,299,824 1,083,246
10 62,947,143 1,195,996 $ 2,299,824 1,103,828
11 61,843,315 1,175,023 $ 2,299,824 1,124,801
12 60,718,515 1,153,652 $ 2,299,824 1,146,172
13 59,572,343 1,131,875 $ 2,299,824 1,167,949
14 58,404,394 1,109,683 $ 2,299,824 1,190,140
15 57,214,254 1,087,071 $ 2,299,824 1,212,753
16 56,001,501 1,064,029 $ 2,299,824 1,235,795
17 54,765,706 1,040,548 $ 2,299,824 1,259,275
18 53,506,431 1,016,622 $ 2,299,824 1,283,201
19 52,223,230 992,241 $ 2,299,824 1,307,582
20 50,915,647 967,397 $ 2,299,824 1,332,426
21 49,583,221 942,081 $ 2,299,824 1,357,742
22 48,225,479 916,284 $ 2,299,824 1,383,539
23 46,841,939 889,997 $ 2,299,824 1,409,827
24 45,432,113 863,210 $ 2,299,824 1,436,613
25 43,995,499 835,914 $ 2,299,824 1,463,909
26 42,531,590 808,100 $ 2,299,824 1,491,723
27 41,039,867 779,757 $ 2,299,824 1,520,066
28 39,519,801 750,876 $ 2,299,824 1,548,947
29 37,970,853 721,446 $ 2,299,824 1,578,377
30 36,392,476 691,457 $ 2,299,824 1,608,367
31 34,784,110 660,898 $ 2,299,824 1,638,925
32 33,145,184 629,758 $ 2,299,824 1,670,065
33 31,475,119 598,027 $ 2,299,824 1,701,796
34 29,773,323 565,693 $ 2,299,824 1,734,130
35 28,039,192 532,745 $ 2,299,824 1,767,079
36 26,272,113 499,170 $ 2,299,824 1,800,653
37 24,471,460 464,958 $ 2,299,824 1,834,866
38 22,636,594 430,095 $ 2,299,824 1,869,728
39 20,766,866 394,570 $ 2,299,824 1,905,253
40 18,861,613 358,371 $ 2,299,824 1,941,453
41 16,920,160 321,483 $ 2,299,824 1,978,341
42 14,941,819 283,895 $ 2,299,824 2,015,929
43 12,925,890 245,592 $ 2,299,824 2,054,232
44 10,871,659 206,562 $ 2,299,824 2,093,262
45 8,778,397 166,790 $ 2,299,824 2,133,034
46 6,645,363 126,262 $ 2,299,824 2,173,562
47 4,471,801 84,964 $ 2,299,824 2,214,859
48 2,256,942 42,882 $ 2,299,824 2,256,942
38,391,531 $ 110,391,531 72,000,000
SALDO
72,000,000
71,068,176
70,118,648
69,151,079
68,165,126
67,160,440
66,136,665
65,093,438
64,030,389
62,947,143
61,843,315
60,718,515
59,572,343
58,404,394
57,214,254
56,001,501
54,765,706
53,506,431
52,223,230
50,915,647
49,583,221
48,225,479
46,841,939
45,432,113
43,995,499
42,531,590
41,039,867
39,519,801
37,970,853
36,392,476
34,784,110
33,145,184
31,475,119
29,773,323
28,039,192
26,272,113
24,471,460
22,636,594
20,766,866
18,861,613
16,920,160
14,941,819
12,925,890
10,871,659
8,778,397
6,645,363
4,471,801
2,256,942
-
CDT 15,000,000 LIQUIDACION
OP1 4.32% SEMESTRAL TRIMESTRAL 1
OP2 7.40% ANUAL SEMESTRAL 1
OP3 0.80% TRIMESTRAL MENSUAL 1
OP4 2.86% SEMESTRAL BIMESTRAL 1

9%
EFECTIVA 4.32% SEMESTRAL
NOMINAL 4.27% FACTOR = 2
PERIODICA 2.14%
VALOR PRESENTE 15,000,000 TRIMESSTRAL
VALOR FUTURO $ 16,323,994
TIEMPO 4 TRIMESTRAL
# EN CAMBIO 1,323,994
% ENDEUDAMIENTO 8.83%

TIEMPO V.INICIAL INTERESES SALDO

0 - 15,000,000
1 15,000,000 320,574 15,320,574
2 15,320,574 327,426 15,648,000
3 15,648,000 334,423 15,982,423
4 15,982,423 341,570 16,323,994
1,323,994
AÑO
AÑO
AÑO
AÑO
CDT 15,000,000 LIQUIDACION
OP1 4.32% SEMESTRAL TRIMESTRAL 1
OP2 7.40% ANUAL SEMESTRAL 1
OP3 0.80% TRIMESTRAL MENSUAL 1
OP4 2.86% SEMESTRAL BIMESTRAL 1

EFECTIVA 7.40% ANUAL

NOMINAL 7.27% FACTOR = 2
PERIODICA 3.63% SEMESTRAL
VALOR PRESENTE 15,000,000
VALOR FUTURO $ 16,110,000
TIEMPO 2 SEMESTRES
# EN CAMBIO 1,110,000
% ENDEUDAMIENTO 7.40%

TIEMPO V.INICIAL INTERESES SALDO

0 - 15,000,000
1 15,000,000 545,096 15,545,096
2 15,545,096 564,904 16,110,000
AÑO
AÑO
AÑO
AÑO
CDT 15,000,000 LIQUIDACION
OP1 4.32% SEMESTRAL TRIMESTRAL 1
OP2 7.40% ANUAL SEMESTRAL 1
OP3 0.80% TRIMESTRAL MENSUAL 1
OP4 2.86% SEMESTRAL BIMESTRAL 1

3.20%
EFECTIVA 0.80% TRIMETRAL
NOMINAL 0.80% FACTOR = 3
PERIODICA 0.27% MENSUAL
VALOR PRESENTE 15,000,000
VALOR FUTURO $ 15,485,791
TIEMPO 12 MESES
# EN CAMBIO 485,791
% ENDEUDAMIENTO 3.24%

TIEMPO V.INICIAL INTERESES SALDO

0 - 15,000,000
1 15,000,000 39,894 15,039,894
2 15,039,894 40,000 15,079,894
3 15,079,894 40,106 15,120,000
4 15,120,000 40,213 15,160,213
5 15,160,213 40,320 15,200,533
6 15,200,533 40,427 15,240,960
7 15,240,960 40,535 15,281,495
8 15,281,495 40,642 15,322,137
9 15,322,137 40,751 15,362,888
10 15,362,888 40,859 15,403,747
11 15,403,747 40,968 15,444,714
12 15,444,714 41,077 15,485,791
485,791
AÑO
AÑO
AÑO
AÑO
CDT 15,000,000 LIQUIDACION
OP1 4.32% SEMESTRAL TRIMESTRAL 1
OP2 7.40% ANUAL SEMESTRAL 1
OP3 0.80% TRIMESTRAL MENSUAL 1
OP4 2.86% SEMESTRAL BIMESTRAL 1

5.72%
EFECTIVA 2.86% SEMESTRAL
NOMINAL 2.83% FACTOR = 3
PERIODICA 0.94% BIMESTRAL
VALOR PRESENTE 15,000,000
VALOR FUTURO $ 15,870,269
TIEMPO 6 BIMESTRES
# EN CAMBIO 870,269
% ENDEUDAMIENTO 5.80%

TIEMPO V.INICIAL INTERESES SALDO

0 - 15,000,000
1 15,000,000 141,658 15,141,658
2 15,141,658 142,996 15,284,654
3 15,284,654 144,346 15,429,000
4 15,429,000 145,709 15,574,709
5 15,574,709 147,085 15,721,795
6 15,721,795 148,475 15,870,269
870,269
AÑO
AÑO
AÑO
AÑO