Tasa Nominal

Tasa Equivalente Tasa Efectiva

Tn T2 Te12.96% 12 13.76% 1 13.76%

Periodo de Capitalizacion

Periodo de Capitalizacion

Tasa Efectiva

1

Periodo de capitalizacion

C $ 5,000.00 i 10%P $ 50,000.00 INCOGNITA

C $ 5,000.00 i 10% INCOGNITAP $ 50,000.00

C $ 50,000.00 INCOGNITAi 10%P $ 500,000.00

TASA 2%PERIODO 0 1 2 3 4 5.00VALOR 850 850 850 850 850VALOR PRESENTE 833.33 816.99 800.97 785.27 769.87VALOR PRESENTE $ 41,721.69 PERPETUIDAD $ 42,500.00

P= Valor actual de una perpetuidad.

c=monto periodico.i=tasa periodica.

6.00 7.00 8.00 9.00 10.00 11.00 12.00 13.00 14.00 15.00850 850 850 850 850 850 850 850 850 850

754.78 739.98 725.47 711.24 697.30 683.62 670.22 657.08 644.19 631.56

P= Valor actual de una perpetuidad.

c=monto periodico.i=tasa periodica.

16.00 17.00 18.00 19.00 20.00 21.00 22.00 23.00 24.00 25.00850 850 850 850 850 850 850 850 850 850

619.18 607.04 595.14 583.47 572.03 560.81 549.81 539.03 528.46 518.10

26.00 27.00 28.00 29.00 30.00 31.00 32.00 33.00 34.00 35.00850 850 850 850 850 850 850 850 850 850

507.94 497.98 488.22 478.65 469.26 460.06 451.04 442.19 433.52 425.02

36.00 37.00 38.00 39.00 40.00 41.00 42.00 43.00 44.00 45.00850 850 850 850 850 850 850 850 850 850

416.69 408.52 400.51 392.66 384.96 377.41 370.01 362.75 355.64 348.67

46.00 47.00 48.00 49.00 50.00 51.00 52.00 53.00 54.00 55.00850 850 850 850 850 850 850 850 850 850

341.83 335.13 328.56 322.11 315.80 309.61 303.54 297.58 291.75 286.03

56.00 57.00 58.00 59.00 60.00 61.00 62.00 63.00 64.00 65.00850 850 850 850 850 850 850 850 850 850

280.42 274.92 269.53 264.25 259.06 253.99 249.01 244.12 239.34 234.64

66.00 67.00 68.00 69.00 70.00 71.00 72.00 73.00 74.00 75.00850 850 850 850 850 850 850 850 850 850

230.04 225.53 221.11 216.77 212.52 208.36 204.27 200.27 196.34 192.49

76.00 77.00 78.00 79.00 80.00 81.00 82.00 83.00 84.00 85.00850 850 850 850 850 850 850 850 850 850

188.71 185.01 181.39 177.83 174.34 170.92 167.57 164.29 161.07 157.91

86.00 87.00 88.00 89.00 90.00 91.00 92.00 93.00 94.00 95.00850 850 850 850 850 850 850 850 850 850

154.81 151.78 148.80 145.88 143.02 140.22 137.47 134.77 132.13 129.54

96.00 97.00 98.00 99.00 100.00 101.00 102.00 103.00 104.00 105.00850 850 850 850 850 850 850 850 850 850

127.00 124.51 122.07 119.67 117.33 115.03 112.77 110.56 108.39 106.27

106.00 107.00 108.00 109.00 110.00 111.00 112.00 113.00 114.00 115.00850 850 850 850 850 850 850 850 850 850

104.18 102.14 100.14 98.17 96.25 94.36 92.51 90.70 88.92 87.18

116.00 117.00 118.00 119.00 120.00 121.00 122.00 123.00 124.00 125.00 126.00850 850 850 850 850 850 850 850 850 850 850

85.47 83.79 82.15 80.54 78.96 77.41 75.89 74.40 72.95 71.52 70.11

127.00 128.00 129.00 130.00 131.00 132.00 133.00 134.00 135.00 136.00 137.00 138.00 139.00 140.00850 850 850 850 850 850 850 850 850 850 850 850 850 850

68.74 67.39 66.07 64.77 63.50 62.26 61.04 59.84 58.67 57.52 56.39 55.28 54.20 53.14

141.00 142.00 143.00 144.00 145.00 146.00 147.00 148.00 149.00 150.00 151.00 152.00 153.00 154.00850 850 850 850 850 850 850 850 850 850 850 850 850 850

52.09 51.07 50.07 49.09 48.13 47.18 46.26 45.35 44.46 43.59 42.74 41.90 41.08 40.27

155.00 156.00 157.00 158.00 159.00 160.00 161.00 162.00 163.00 164.00 165.00 166.00 167.00 168.00850 850 850 850 850 850 850 850 850 850 850 850 850 850

39.48 38.71 37.95 37.20 36.47 35.76 35.06 34.37 33.70 33.04 32.39 31.75 31.13 30.52

169.00 170.00 171.00 172.00 173.00 174.00 175.00 176.00 177.00 178.00 179.00 180.00 181.00 182.00850 850 850 850 850 850 850 850 850 850 850 850 850 850

29.92 29.34 28.76 28.20 27.64 27.10 26.57 26.05 25.54 25.04 24.55 24.07 23.59 23.13

183.00 184.00 185.00 186.00 187.00 188.00 189.00 190.00 191.00 192.00 193.00 194.00 195.00 196.00850 850 850 850 850 850 850 850 850 850 850 850 850 850

22.68 22.23 21.80 21.37 20.95 20.54 20.14 19.74 19.35 18.98 18.60 18.24 17.88 17.53

197.00 198.00 199.00 200.00 201.00 202.00850 850 850 850 850 850

17.19 16.85 16.52 16.20 15.88 15.57

TASA 0.1PERIODO 0 1 2 3 4VALOR 100 100 100 100VALOR PRESENTE 90.91 82.64 75.13 68.30

$ 1,000.00 PERPETUIDAD $ 1,000.00 ANUALIDADPERIODOS 4

VALOR P. PERIODOS NO PAGADOS $ 683.01 ANUALIDAD $ 316.99 ANUALIDAD $ 316.99

VALOR AL FINAL DEL PERIODO $ 464.10

Σ VALOR PRESENTE

5 6 7 8 9 10 11 12 13 14100 100 100 100 100 100 100 100 100 100

62.09 56.45 51.32 46.65 42.41 38.55 35.05 31.86 28.97 26.33

15 16 17 18 19 20 21 22 23 24100 100 100 100 100 100 100 100 100 100

23.94 21.76 19.78 17.99 16.35 14.86 13.51 12.28 11.17 10.15

25 26 27 28 29 30 31 32 33 34100 100 100 100 100 100 100 100 100 100

9.23 8.39 7.63 6.93 6.30 5.73 5.21 4.74 4.31 3.91

35 36 37 38 39 40 41 42 43 44100 100 100 100 100 100 100 100 100 100

3.56 3.23 2.94 2.67 2.43 2.21 2.01 1.83 1.66 1.51

45 46 47 48 49 50 51 52 53 54100 100 100 100 100 100 100 100 100 100

1.37 1.25 1.13 1.03 0.94 0.85 0.77 0.70 0.64 0.58

55 56 57 58 59 60 61 62 63 64100 100 100 100 100 100 100 100 100 100

0.53 0.48 0.44 0.40 0.36 0.33 0.30 0.27 0.25 0.22

65 66 67 68 69 70 71 72 73100 100 100 100 100 100 100 100 100

0.20 0.19 0.17 0.15 0.14 0.13 0.12 0.10 0.10

74 75 76 77 78 79 80 81100 100 100 100 100 100 100 100

0.09 0.08 0.07 0.06 0.06 0.05 0.05 0.04

82 83 84 85 86 87 88 89100 100 100 100 100 100 100 100

0.04 0.04 0.03 0.03 0.03 0.03 0.02 0.02

90 91 92 93 94 95 96 97100 100 100 100 100 100 100 100

0.02 0.02 0.02 0.01 0.01 0.01 0.01 0.01

98 99 100 101 102 103 104 105100 100 100 100 100 100 100 100

0.01 0.01 0.01 0.01 0.01 0.01 0.00 0.00

106 107 108 109 110 111 112 113100 100 100 100 100 100 100 100

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

114 115 116 117 118 119 120 121100 100 100 100 100 100 100 100

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

122 123 124 125 126 127 128 129100 100 100 100 100 100 100 100

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

130 131 132 133 134 135 136 137100 100 100 100 100 100 100 100

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

138 139 140 141 142 143 144 145100 100 100 100 100 100 100 100

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

146 147 148 149 150 151 152 153100 100 100 100 100 100 100 100

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

154 155 156 157100 100 100 100

0.00 0.00 0.00 0.00

1 2 3 4 520000 15000 50000 70000 50000

695205.48FCF $ 20,000.00 $ 15,000.00 $ 50,000.00 $ 70,000.00 $ 745,205.48 VAN $ 563,632.31

WACC 8.72%% RRRR 80.00%%Rdeuda 20.00%Kd 12.00%T 30.00%

$565,698.48

Ke (costo de c 8.80%Rf 5.17%B 1Rm 7.30%Rpais 1.50%

G= tasa de crecimiento de la economia PIB 1.5%

VAN Afectado del WACC

VrIo 45000

50750