INVESTIMENTO INICIAL: 17,100,000.

00
ano
Determinação da taxa de juros (RF) 40240407822
Taxa de renda fixa RF = 0,1 + (primeiro dígito do seu CPF/100) 14

Determinação do beta (medida de risco) 12/26/1991

Beta dos sócios da empresa = 1 + (último dígito do seu mês de
beta: 1.2
nascimento/10)

eRM = RF + 0,08 am | ia=(1+0,008)^12-1| eRM = 0,14+0,1003 eRM = 0,14+0,1003 24.03

taxa de financiamento bancária: 0,05 + RF = 29.03

KE = Rf + b(eRm-RF) | 1,097 + 1,2 * (1,811-1,097) | 26.14

KE = Rf + b(eRm-RF) | 1,097 + 1,2 * (1,897-1,097) | 27.67

 TAXA eRM COM NOVA INSTRUÇÃO
mês
1.097
1.097 0.8
1.897

1.811

2.14%

1.9538

2.057
Produto A B C Total
Unidades 30,000 40,000 50,000
Preço R$ 10.00 R$ 12.00 R$ 14.00
Custo Variável R$ 5.00 R$ 6.00 R$ 7.00
Receita Bruta R$ 300,000.00 R$ 480,000.00 R$ 700,000.00 1,480,000
Custo Variável R$ 150,000.00 R$ 240,000.00 R$ 350,000.00 740,000

Mês Ano
Custo fixo 100,000 1,200,000
IR 25%
IR provisão 27%

Lucro Presumido ano mês

Receita Bruta 17,760,000 1,480,000
Custo Variável Total 8,880,000 740,000
Custo Fixo Total 1,200,000 100,000
IR base 27% 4,795,200 399,600
IR 25% 1,198,800 99,900
Lucro Líquido 6,481,200 540,100
ILL 0.36

Lucro Real ano mês

Receita Bruta 17,760,000 1,480,000
Custo Variável Total 8,880,000 740,000
Custo Fixo Total 1,200,000 100,000
IR 25% 2,220,000 185,000
Lucro Líquido 5,460,000 455,000
ILL 0.31
Anual

17,760,000
8,880,000
Lucro Presumido
Período Descontado Saldo
0 -17,100,000
1 5,138,100.52 -11,961,899 Payback em 2
2 6,066,665.02 -5,895,234 0.93
3 6,367,467.78 472,233 2.93 anos
4 6,451,080.01 6,923,313
5 6,473,299.52 13,396,613
6 6,479,132.95 19,875,746
7 6,480,659.55 26,356,405 15,737,464
8 6,481,058.72 32,837,464

Lucro Real
Período Descontado Saldo
0 -17,100,000
1 4,328,523.86 -12,771,476 Payback em 3
2 5,110,780.57 -7,660,696 0.42
3 5,364,187.82 -2,296,508 3.42 anos
4 5,434,625.82 3,138,118
5 5,453,344.34 8,591,462
6 5,458,258.64 14,049,721
7 5,459,544.70 19,509,266
8 5,459,880.98 24,969,147

Lucro Presumido
Período Descontado Saldo
0 -17,100,000
1 5,076,525.42 -12,023,475 Payback em 2
2 6,020,270.68 -6,003,204 0.95
3 6,346,744.52 343,541 2.95 anos
4 6,443,429.41 6,786,970
5 6,470,704.64 13,257,675
6 6,478,292.53 19,735,967
7 6,480,395.24 26,216,362 15,597,340
8 6,480,977.30 32,697,340

Lucro Real
Período Descontado Saldo
0 -17,100,000
1 4,276,650.74 -12,823,349 Payback em 3
2 5,071,696.28 -7,751,653 0.44
3 5,346,729.79 -2,404,923 3.44 anos
4 5,428,180.68 3,023,257
5 5,451,158.32 8,474,416
6 5,457,550.64 13,931,966
7 5,459,322.04 19,391,288
8 5,459,812.39 24,851,101
 17,100,000 CHS g CFo
6,481,200 g CFj
8 g Nj
26.14 i
f NPV 3,825,822.10
f IRR 34.32

17,100,000 CHS g CFo

5,460,000 g CFj
8 g Nj
26.14 i
f NPV 528,678.12
f IRR 27.2999

17,100,000 CHS g CFo

6,481,200 g CFj
8 g Nj
27.67 i
f NPV 3,004,751.11
f IRR 34.32

17,100,000 CHS g CFo

5,460,000 g CFj
8 g Nj
27.67 i
f NPV - 163,022.11
f IRR 27.2999
 Price SAC
Período Parcela Amort Juros Saldo Período Parcela
0 17,100,000 0
1 421,094 -55,154.01 365,940.00 17,044,846 1 544,065
2 421,094 -56,334.31 364,759.70 16,988,512 2 184,003
3 421,094 -57,539.86 363,554.15 16,930,972 3 180,191
4 421,094 -58,771.22 362,322.80 16,872,201 4 176,379
5 421,094 -60,028.92 361,065.09 16,812,172 5 172,568
6 421,094 -61,313.54 359,780.47 16,750,858 6 168,756
7 421,094 -62,625.65 358,468.36 16,688,232 7 164,944
8 421,094 -63,965.84 357,128.18 16,624,267 8 161,132
9 421,094 -65,334.71 355,759.31 16,558,932 9 157,320
10 421,094 -66,732.87 354,361.14 16,492,199 10 153,508
11 421,094 -68,160.95 352,933.06 16,424,038 11 149,696
12 421,094 -69,619.60 351,474.42 16,354,419 12 145,884
13 421,094 -71,109.46 349,984.56 16,283,309 13 142,073
14 421,094 -72,631.20 348,462.81 16,210,678 14 138,261
15 421,094 -74,185.51 346,908.51 16,136,492 15 134,449
16 421,094 -75,773.08 345,320.94 16,060,719 16 130,637
17 421,094 -77,394.62 343,699.39 15,983,325 17 126,825
18 421,094 -79,050.87 342,043.15 15,904,274 18 123,013
19 421,094 -80,742.56 340,351.46 15,823,531 19 119,201
20 421,094 -82,470.45 338,623.57 15,741,061 20 115,389
21 421,094 -84,235.31 336,858.70 15,656,825 21 111,578
22 421,094 -86,037.95 335,056.06 15,570,787 22 107,766
23 421,094 -87,879.16 333,214.85 15,482,908 23 103,954
24 421,094 -89,759.78 331,334.24 15,393,149 24 100,142
25 421,094 -91,680.64 329,413.38 15,301,468 25 96,330
26 421,094 -93,642.60 327,451.41 15,207,825 26 92,518
27 421,094 -95,646.55 325,447.46 15,112,179 27 88,706
28 421,094 -97,693.39 323,400.63 15,014,485 28 84,894
29 421,094 -99,784.03 321,309.99 14,914,701 29 81,083
30 421,094 -101,919.41 319,174.61 14,812,782 30 77,271
31 421,094 -104,100.48 316,993.53 14,708,681 31 73,459
32 421,094 -106,328.23 314,765.78 14,602,353 32 69,647
33 421,094 -108,603.66 312,490.36 14,493,750 33 65,835
34 421,094 -110,927.77 310,166.24 14,382,822 34 62,023
35 421,094 -113,301.63 307,792.39 14,269,520 35 58,211
36 421,094 -115,726.28 305,367.73 14,153,794 36 54,399
37 421,094 -118,202.83 302,891.19 14,035,591 37 50,588
38 421,094 -120,732.37 300,361.65 13,914,859 38 46,776
39 421,094 -123,316.04 297,777.98 13,791,543 39 42,964
40 421,094 -125,955.00 295,139.01 13,665,588 40 39,152
41 421,094 -128,650.44 292,443.58 13,536,937 41 35,340
42 421,094 -131,403.56 289,690.46 13,405,534 42 31,528
43 421,094 -134,215.59 286,878.42 13,271,318 43 27,716
44 421,094 -137,087.81 284,006.21 13,134,230 44 23,904
45 421,094 -140,021.49 281,072.53 12,994,209 45 20,093
46 421,094 -143,017.95 278,076.07 12,851,191 46 16,281
47 421,094 -146,078.53 275,015.48 12,705,112 47 12,469
48 421,094 -149,204.61 271,889.40 12,555,908 48 8,657
49 421,094 -152,397.59 268,696.42 12,403,510 49 4,845
50 421,094 -155,658.90 265,435.12 12,247,851 50 1,033
51 421,094 -158,990.00 262,104.02 12,088,861 51 - 2,779
52 421,094 -162,392.38 258,701.63 11,926,469 52 - 6,591
53 421,094 -165,867.58 255,226.43 11,760,601 53 - 10,403
54 421,094 -169,417.15 251,676.87 11,591,184 54 - 14,214
55 421,094 -173,042.68 248,051.34 11,418,141 55 - 18,026
56 421,094 -176,745.79 244,348.23 11,241,396 56 - 21,838
57 421,094 -180,528.15 240,565.87 11,060,867 57 - 25,650
58 421,094 -184,391.45 236,702.56 10,876,476 58 - 29,462
59 421,094 -188,337.43 232,756.59 10,688,139 59 - 33,274
60 421,094 -192,367.85 228,726.17 10,495,771 60 - 37,086
61 421,094 -196,484.52 224,609.49 10,299,286 61 - 40,898
62 421,094 -200,689.29 220,404.73 10,098,597 62 - 44,709
63 421,094 -204,984.04 216,109.97 9,893,613 63 - 48,521
64 421,094 -209,370.70 211,723.32 9,684,242 64 - 52,333
65 421,094 -213,851.23 207,242.78 9,470,391 65 - 56,145
66 421,094 -218,427.65 202,666.37 9,251,963 66 - 59,957
67 421,094 -223,102.00 197,992.02 9,028,861 67 - 63,769
68 421,094 -227,876.38 193,217.63 8,800,985 68 - 67,581
69 421,094 -232,752.94 188,341.08 8,568,232 69 - 71,393
70 421,094 -237,733.85 183,360.16 8,330,498 70 - 75,204
71 421,094 -242,821.35 178,272.66 8,087,677 71 - 79,016
72 421,094 -248,017.73 173,076.28 7,839,659 72 - 82,828
73 421,094 -253,325.31 167,768.70 7,586,334 73 - 86,640
74 421,094 -258,746.47 162,347.54 7,327,587 74 - 90,452
75 421,094 -264,283.65 156,810.37 7,063,304 75 - 94,264
76 421,094 -269,939.32 151,154.70 6,793,364 76 - 98,076
77 421,094 -275,716.02 145,378.00 6,517,648 77 - 101,888
78 421,094 -281,616.34 139,477.67 6,236,032 78 - 105,699
79 421,094 -287,642.93 133,451.08 5,948,389 79 - 109,511
80 421,094 -293,798.49 127,295.53 5,654,591 80 - 113,323
81 421,094 -300,085.78 121,008.24 5,354,505 81 - 117,135
82 421,094 -306,507.61 114,586.40 5,047,997 82 - 120,947
83 421,094 -313,066.88 108,027.14 4,734,930 83 - 124,759
84 421,094 -319,766.51 101,327.51 4,415,164 84 - 128,571
85 421,094 -326,609.51 94,484.50 4,088,554 85 - 132,383
86 421,094 -333,598.95 87,495.06 3,754,955 86 - 136,194
87 421,094 -340,737.97 80,356.04 3,414,217 87 - 140,006
88 421,094 -348,029.76 73,064.25 3,066,188 88 - 143,818
89 421,094 -355,477.60 65,616.41 2,710,710 89 - 147,630
90 421,094 -363,084.82 58,009.19 2,347,625 90 - 151,442
91 421,094 -370,854.84 50,239.18 1,976,770 91 - 155,254
92 421,094 -378,791.13 42,302.88 1,597,979 92 - 159,066
93 421,094 -386,897.26 34,196.75 1,211,082 93 - 162,878
94 421,094 -395,176.86 25,917.15 815,905 94 - 166,689
95 421,094 -403,633.65 17,460.37 412,271 95 - 170,501
96 421,094 -412,271.41 8,822.61 - 0 96 - 174,313
 SAA
Amort Juros Saldo 17100000 CHS PV
17,100,000 96 n
-178,125.00 365,940.00 16,921,875 2.14 i
-178,125.00 362,128.13 16,743,750 Fv 130,556.36
-178,125.00 358,316.25 16,565,625 Parcela 1359.96213
-178,125.00 354,504.38 16,387,500
-178,125.00 350,692.50 16,209,375
-178,125.00 346,880.63 16,031,250
-178,125.00 343,068.75 15,853,125
-178,125.00 339,256.88 15,675,000
-178,125.00 335,445.00 15,496,875
-178,125.00 331,633.13 15,318,750
-178,125.00 327,821.25 15,140,625
-178,125.00 324,009.38 14,962,500
-178,125.00 320,197.50 14,784,375
-178,125.00 316,385.63 14,606,250
-178,125.00 312,573.75 14,428,125
-178,125.00 308,761.88 14,250,000
-178,125.00 304,950.00 14,071,875
-178,125.00 301,138.13 13,893,750
-178,125.00 297,326.25 13,715,625
-178,125.00 293,514.38 13,537,500
-178,125.00 289,702.50 13,359,375
-178,125.00 285,890.63 13,181,250
-178,125.00 282,078.75 13,003,125
-178,125.00 278,266.88 12,825,000
-178,125.00 274,455.00 12,646,875
-178,125.00 270,643.13 12,468,750
-178,125.00 266,831.25 12,290,625
-178,125.00 263,019.38 12,112,500
-178,125.00 259,207.50 11,934,375
-178,125.00 255,395.63 11,756,250
-178,125.00 251,583.75 11,578,125
-178,125.00 247,771.88 11,400,000
-178,125.00 243,960.00 11,221,875
-178,125.00 240,148.13 11,043,750
-178,125.00 236,336.25 10,865,625
-178,125.00 232,524.38 10,687,500
-178,125.00 228,712.50 10,509,375
-178,125.00 224,900.63 10,331,250
-178,125.00 221,088.75 10,153,125
-178,125.00 217,276.88 9,975,000
-178,125.00 213,465.00 9,796,875
-178,125.00 209,653.13 9,618,750
-178,125.00 205,841.25 9,440,625
-178,125.00 202,029.38 9,262,500
-178,125.00 198,217.50 9,084,375
-178,125.00 194,405.63 8,906,250
-178,125.00 190,593.75 8,728,125
-178,125.00 186,781.88 8,550,000
-178,125.00 182,970.00 8,371,875
-178,125.00 179,158.13 8,193,750
-178,125.00 175,346.25 8,015,625
-178,125.00 171,534.38 7,837,500
-178,125.00 167,722.50 7,659,375
-178,125.00 163,910.63 7,481,250
-178,125.00 160,098.75 7,303,125
-178,125.00 156,286.88 7,125,000
-178,125.00 152,475.00 6,946,875
-178,125.00 148,663.13 6,768,750
-178,125.00 144,851.25 6,590,625
-178,125.00 141,039.38 6,412,500
-178,125.00 137,227.50 6,234,375
-178,125.00 133,415.63 6,056,250
-178,125.00 129,603.75 5,878,125
-178,125.00 125,791.88 5,700,000
-178,125.00 121,980.00 5,521,875
-178,125.00 118,168.13 5,343,750
-178,125.00 114,356.25 5,165,625
-178,125.00 110,544.38 4,987,500
-178,125.00 106,732.50 4,809,375
-178,125.00 102,920.63 4,631,250
-178,125.00 99,108.75 4,453,125
-178,125.00 95,296.88 4,275,000
-178,125.00 91,485.00 4,096,875
-178,125.00 87,673.13 3,918,750
-178,125.00 83,861.25 3,740,625
-178,125.00 80,049.38 3,562,500
-178,125.00 76,237.50 3,384,375
-178,125.00 72,425.63 3,206,250
-178,125.00 68,613.75 3,028,125
-178,125.00 64,801.88 2,850,000
-178,125.00 60,990.00 2,671,875
-178,125.00 57,178.13 2,493,750
-178,125.00 53,366.25 2,315,625
-178,125.00 49,554.38 2,137,500
-178,125.00 45,742.50 1,959,375
-178,125.00 41,930.63 1,781,250
-178,125.00 38,118.75 1,603,125
-178,125.00 34,306.88 1,425,000
-178,125.00 30,495.00 1,246,875
-178,125.00 26,683.13 1,068,750
-178,125.00 22,871.25 890,625
-178,125.00 19,059.38 712,500
-178,125.00 15,247.50 534,375
-178,125.00 11,435.63 356,250
-178,125.00 7,623.75 178,125
-178,125.00 3,811.88 -