Ano Fluxo antes IR Depreciação Valor Contábil Lucro Tributável Imposto Renda Fluxo após IR

a b c d=a-b (-c) e=δ*d f=a-e

0 -R$ 30,000.00 R$ - R$ - R$ - R$ - -R$ 30,000.00
1 R$ 10,000.00 R$ 4,500.00 R$ 25,500.00 R$ 5,500.00 R$ 1,925.00 R$ 8,075.00
2 R$ 10,000.00 R$ 4,500.00 R$ 21,000.00 R$ 5,500.00 R$ 1,925.00 R$ 8,075.00
3 R$ 10,000.00 R$ 4,500.00 R$ 16,500.00 R$ 5,500.00 R$ 1,925.00 R$ 8,075.00
4 R$ 10,000.00 R$ 4,500.00 R$ 12,000.00 R$ 5,500.00 R$ 1,925.00 R$ 8,075.00
5 R$ 17,000.00 R$ 4,500.00 R$ 7,500.00 R$ 5,000.00 R$ 1,750.00 R$ 15,250.00

TIR = Tdep = δimpostos = TIR =

23.76% 15% 35% 15.81%
Ano Fluxo antes IR Depreciação Valor Contábil Lucro Tributável Imposto Renda
a b c d=a-b e=δ*d
0 -R$ 100,000.00 R$ - R$ - R$ - R$ -
1 R$ 5,000.00 R$ 10,000.00 R$ 90,000.00 -R$ 5,000.00 -R$ 1,750.00
2 R$ 10,000.00 R$ 10,000.00 R$ 80,000.00 R$ - R$ -
3 R$ 20,000.00 R$ 10,000.00 R$ 70,000.00 R$ 10,000.00 R$ 3,500.00
4 R$ 25,000.00 R$ 10,000.00 R$ 60,000.00 R$ 15,000.00 R$ 5,250.00
5 R$ 25,000.00 R$ 10,000.00 R$ 50,000.00 R$ 15,000.00 R$ 5,250.00
6 R$ 25,000.00 R$ 10,000.00 R$ 40,000.00 R$ 15,000.00 R$ 5,250.00
7 R$ 25,000.00 R$ 10,000.00 R$ 30,000.00 R$ 15,000.00 R$ 5,250.00
8 R$ 25,000.00 R$ 10,000.00 R$ 20,000.00 R$ 15,000.00 R$ 5,250.00
9 R$ 25,000.00 R$ 10,000.00 R$ 10,000.00 R$ 15,000.00 R$ 5,250.00
10 R$ 5,000.00 R$ 10,000.00 R$ - -R$ 5,000.00 -R$ 1,750.00

TIR = Tdep = δimpostos =

12.31% 10% 35%
 Fluxo após IR
f=a-e
-R$ 100,000.00
R$ 6,750.00
R$ 10,000.00
R$ 16,500.00
R$ 19,750.00
R$ 19,750.00
R$ 19,750.00
R$ 19,750.00
R$ 19,750.00
R$ 19,750.00
R$ 6,750.00

TIR =
8.71%
Ano COMPRA LEASING Compra-Leasing
0 -R$ 850,000.00 R$ - -R$ 850,000.00 A = R$ 9,092.00
1 -R$ 117,836.21 -R$ 565,074.66 R$ 447,238.45 n= 12 horas
2 -R$ 117,836.21 -R$ 565,074.66 R$ 447,238.45 (TMA) ia = 18% valor/h
3 -R$ 117,836.21 -R$ 565,074.66 R$ 447,238.45 im = 1.39% valor/mês
4 -R$ 117,836.21 -R$ 565,074.66 R$ 447,238.45 F= R$ 117,836.21 Facumulado1ano
5 R$ 52,163.79 -R$ 565,074.66 R$ 617,238.45

Ano Fluxo antes IR Depreciação Valor Contábil Lucro Tributável Imposto Renda Fluxo após IR
a b c d=a-b e=δ*d f=a-e
0 -R$ 850,000.00 R$ - R$ - R$ - R$ - -R$ 850,000.00
1 R$ 447,238.45 R$ 212,500.00 R$ 637,500.00 R$ 234,738.45 R$ 82,158.46 R$ 365,079.99
2 R$ 447,238.45 R$ 212,500.00 R$ 425,000.00 R$ 234,738.45 R$ 82,158.46 R$ 365,079.99
3 R$ 447,238.45 R$ 212,500.00 R$ 212,500.00 R$ 234,738.45 R$ 82,158.46 R$ 365,079.99
4 R$ 447,238.45 R$ 212,500.00 R$ - R$ 234,738.45 R$ 82,158.46 R$ 365,079.99
5 R$ 617,238.45 R$ - R$ - R$ 617,238.45 R$ 216,033.46 R$ 401,204.99

TIR = Tdep = δimpostos = TIR =

46.10% 25% 35% 32.95%
 Franquia
200
R$ 218.00
R$ 43,600.00
R$ 565,074.66
Ano Fluxo antes IR Depreciação Valor Contábil Lucro Tributável Imposto Renda Fluxo após IR
a b c d=a-b e=δ*d f=a-e
0 -R$ 850,000.00 R$ - R$ - R$ - R$ - -R$ 850,000.00
1 -R$ 117,836.21 R$ 212,500.00 R$ 637,500.00 -R$ 330,336.21 -R$ 115,617.67 -R$ 2,218.54
2 -R$ 117,836.21 R$ 212,500.00 R$ 425,000.00 -R$ 330,336.21 -R$ 115,617.67 -R$ 2,218.54
3 -R$ 117,836.21 R$ 212,500.00 R$ 212,500.00 -R$ 330,336.21 -R$ 115,617.67 -R$ 2,218.54
4 -R$ 117,836.21 R$ 212,500.00 R$ - -R$ 330,336.21 -R$ 115,617.67 -R$ 2,218.54
5 R$ 52,163.79 R$ - R$ - R$ 52,163.79 R$ 18,257.33 R$ 33,906.46
TMA = Tdep = δimpostos = VPL =
18% 25% 35% -R$ 841,147.17

Ano Fluxo antes IR Depreciação Valor Contábil Lucro Tributável Imposto Renda Fluxo após IR
a b c d=a-b e=δ*d f=a-e
0 R$ - R$ - R$ - R$ - R$ - R$ -
1 -R$ 565,074.66 R$ - R$ - -R$ 565,074.66 -R$ 197,776.13 -R$ 367,298.53
2 -R$ 565,074.66 R$ - R$ - -R$ 565,074.66 -R$ 197,776.13 -R$ 367,298.53
3 -R$ 565,074.66 R$ - R$ - -R$ 565,074.66 -R$ 197,776.13 -R$ 367,298.53
4 -R$ 565,074.66 R$ - R$ - -R$ 565,074.66 -R$ 197,776.13 -R$ 367,298.53
5 -R$ 565,074.66 R$ - R$ - -R$ 565,074.66 -R$ 197,776.13 -R$ 367,298.53
TMA = Tdep = δimpostos = VPL =
18% 25% 35% -R$ 1,148,605.31
 A= R$ 9,092.00
n= 12
i= 1.39%

F= R$ 117,836.21

Franquia 200 h
h/mês usadas 102 h
Valor/h R$ 218.00
Valor/mês R$ 43,600.00
R$ 22,236.00
F acumulado R$ 565,074.66
R$ 288,188.07
Ano COMPRA ALUGUEL Compra-Aluguel
0 -R$ 260,000.00 R$ - -R$ 260,000.00
1 -R$ 54,000.00 -R$ 160,000.00 R$ 106,000.00 Atingir Meta >>>>>>> TIR = 15%
2 -R$ 54,000.00 -R$ 160,000.00 R$ 106,000.00 Alternando >>>>> Aluguel
3 R$ 106,000.00 -R$ 160,000.00 R$ 266,000.00

Ano Fluxo antes IR Depreciação Valor Contábil Lucro Tributável Imposto Renda Fluxo após IR
a b c d=a-b (-c) e=δ*d f=a-e
0 -R$ 260,000.00 R$ - R$ - R$ - R$ - -R$ 260,000.00
1 R$ 106,000.00 R$ 52,000.00 R$ 208,000.00 R$ 54,000.00 R$ 22,680.00 R$ 83,320.00
2 R$ 106,000.00 R$ 52,000.00 R$ 156,000.00 R$ 54,000.00 R$ 22,680.00 R$ 83,320.00
3 R$ 266,000.00 R$ 52,000.00 R$ 104,000.00 R$ 110,000.00 R$ 46,200.00 R$ 219,800.00

TIR = Tdep = δimpostos = TIR =

31.24% 20% 42% 18.85%
 Sistema PRICE Sistema SAC
Ano Saldo Devedor Prestação Amortização
P = R$ 100,000.00 0 R$ 100,000.00 ---- ----
n= 25 1 R$ 96,000.00 R$ 8,000.00 R$ 4,000.00
i= 4% 2 R$ 92,000.00 R$ 7,840.00 R$ 4,000.00
3 R$ 88,000.00 R$ 7,680.00 R$ 4,000.00
p=A= ? 4 R$ 84,000.00 R$ 7,520.00 R$ 4,000.00
5 R$ 80,000.00 R$ 7,360.00 R$ 4,000.00
PGTO p=A=100mil.(A/P;4%;25) 6 R$ 76,000.00 R$ 7,200.00 R$ 4,000.00
7 R$ 72,000.00 R$ 7,040.00 R$ 4,000.00
A= R$ 6,401.20 8 R$ 68,000.00 R$ 6,880.00 R$ 4,000.00
9 R$ 64,000.00 R$ 6,720.00 R$ 4,000.00
10 R$ 60,000.00 R$ 6,560.00 R$ 4,000.00
pprice > psac >>>>>> 11 R$ 56,000.00 R$ 6,400.00 R$ 4,000.00
12 R$ 52,000.00 R$ 6,240.00 R$ 4,000.00
13 R$ 48,000.00 R$ 6,080.00 R$ 4,000.00
14 R$ 44,000.00 R$ 5,920.00 R$ 4,000.00
15 R$ 40,000.00 R$ 5,760.00 R$ 4,000.00
16 R$ 36,000.00 R$ 5,600.00 R$ 4,000.00
17 R$ 32,000.00 R$ 5,440.00 R$ 4,000.00
18 R$ 28,000.00 R$ 5,280.00 R$ 4,000.00
19 R$ 24,000.00 R$ 5,120.00 R$ 4,000.00
20 R$ 20,000.00 R$ 4,960.00 R$ 4,000.00
21 R$ 16,000.00 R$ 4,800.00 R$ 4,000.00
22 R$ 12,000.00 R$ 4,640.00 R$ 4,000.00
23 R$ 8,000.00 R$ 4,480.00 R$ 4,000.00
24 R$ 4,000.00 R$ 4,320.00 R$ 4,000.00
25 R$ 0.00 R$ 4,160.00 R$ 4,000.00
 Juros
----
R$ 4,000.00
R$ 3,840.00
R$ 3,680.00
R$ 3,520.00
R$ 3,360.00
R$ 3,200.00
R$ 3,040.00
R$ 2,880.00
R$ 2,720.00
R$ 2,560.00
R$ 2,400.00
R$ 2,240.00
R$ 2,080.00
R$ 1,920.00
R$ 1,760.00
R$ 1,600.00
R$ 1,440.00
R$ 1,280.00
R$ 1,120.00
R$ 960.00
R$ 800.00
R$ 640.00
R$ 480.00
R$ 320.00
R$ 160.00
 Sistema SAC
Ano Saldo Devedor Prestação Amortização Juros Ano Saldo Devedor Prestação
0 X ---- ---- ---- 0 R$ 40,983.61 ----
1 0,9.X 0,140.X 0,1.X 0,040.X 1 R$ 36,885.25 R$ 5,737.70
2 0,8.X 0,136.X 0,1.X 0,036.X 2 R$ 32,786.89 R$ 5,573.77
3 ... 0,132.X ... ... 3 R$ 28,688.52 R$ 5,409.84
4 ... 0,128.X ... ... 4 R$ 24,590.16 R$ 5,245.90
5 ... 0,124.X ... ... 5 R$ 20,491.80 R$ 5,081.97
6 ... 0,120.X ... ... 6 R$ 16,393.44 R$ 4,918.03
7 ... 0,116.X ... ... 7 R$ 12,295.08 R$ 4,754.10
8 ... 0,112.X ... ... 8 R$ 8,196.72 R$ 4,590.16
9 ... 0,108.X ... ... 9 R$ 4,098.36 R$ 4,426.23
10 zero 0,104.X 0,1.X 0,004.X 10 R$ 0.00 R$ 4,262.30
SOMA psac = R$ 50,000.00
SOMA psac = 1,22.X Sistema PRICE
SOMA pprice = 10. p =
X= R$ 40,983.61 SOMA pprice = R$ 50,529.08
 Amortização Juros
---- ----
R$ 4,098.36 R$ 1,639.34
R$ 4,098.36 R$ 1,475.41
R$ 4,098.36 R$ 1,311.48
R$ 4,098.36 R$ 1,147.54
R$ 4,098.36 R$ 983.61
R$ 4,098.36 R$ 819.67
R$ 4,098.36 R$ 655.74
R$ 4,098.36 R$ 491.80
R$ 4,098.36 R$ 327.87
R$ 4,098.36 R$ 163.93

ema PRICE
10 . X . (A/P;4%;10)
 SISTEMA PRICE SISTEMA SAC
Período Saldo Devedor Prestação Amortização Juros Período Saldo Devedor Prestação
k SDk pk ak jk k SDk pk
0 R$ 8,000.00 - - - 0 R$ 8,000.00 -
1 R$ 6,731.79 R$ 1,428.21 R$ 1,268.21 R$ 160.00 1 R$ 6,666.67 R$ 1,493.33
2 R$ 5,438.22 R$ 1,428.21 R$ 1,293.57 R$ 134.64 2 R$ 5,333.33 R$ 1,466.67
3 R$ 4,118.78 R$ 1,428.21 R$ 1,319.44 R$ 108.76 3 R$ 4,000.00 R$ 1,440.00
4 R$ 2,772.95 R$ 1,428.21 R$ 1,345.83 R$ 82.38 4 R$ 2,666.67 R$ 1,413.33
5 R$ 1,400.20 R$ 1,428.21 R$ 1,372.75 R$ 55.46 5 R$ 1,333.33 R$ 1,386.67
6 R$ - R$ 1,428.21 R$ 1,400.20 R$ 28.00 6 R$ - R$ 1,360.00

Emprestimo = R$ 8,000.00 Emprestimo = R$ 8,000.00

Taxa Juros = 2% Taxa Juros = 2%
Total Prestações = 6 Total Prestações = 6
p = A = PGTO = R$ 1,428.21 amortização = R$ 1,333.33
MA SAC
Amortização Juros
ak jk
- -
R$ 1,333.33 R$ 160.00
R$ 1,333.33 R$ 133.33
R$ 1,333.33 R$ 106.67
R$ 1,333.33 R$ 80.00
R$ 1,333.33 R$ 53.33
R$ 1,333.33 R$ 26.67