Académique Documents
Professionnel Documents
Culture Documents
5 Anos
-14,000.00
-21,000.00
3,000.00
4,000.00
20
4.67
5.25
Payback (PB)
Melhor projeto*
Anos
Anos
PB = VI / FC
Custo de capital
Anos
14%
Projeto M
Projeto N
-28,500.00
-27,000.00
10,000.00
11,000.00
10,000.00
10,000.00
10,000.00
9,000.00
10,000.00
8,000.00
a) Payback
2.85
b) VPL
637.12
c) TIR
15.09%
d) Melhor projeto*
*Marque com "X" o melhor projeto.
2.67
1,155.18
16.19%
x
Melhor projeto N porque o PB menor e VPL e TIR maior em N que vivel economicamente
Custo de capital
Anos
14%
a)
b)
c)
-10,000.00
-25,000.00
-30,000.00
2,000.00
3,000.00
5,000.00
2,000.00
3,000.00
5,000.00
2,000.00
3,000.00
5,000.00
2,000.00
3,000.00
5,000.00
2,000.00
3,000.00
5,000.00
2,000.00
3,000.00
5,000.00
2,000.00
3,000.00
5,000.00
2,000.00
3,000.00
5,000.00
2,000.00
3,000.00
5,000.00
10
2,000.00
3,000.00
5,000.00
11
2,000.00
3,000.00
5,000.00
12
2,000.00
3,000.00
5,000.00
13
2,000.00
3,000.00
5,000.00
14
2,000.00
3,000.00
5,000.00
15
2,000.00
3,000.00
5,000.00
16
2,000.00
3,000.00
5,000.00
17
2,000.00
3,000.00
5,000.00
18
2,000.00
3,000.00
5,000.00
19
2,000.00
3,000.00
5,000.00
20
2,000.00
3,000.00
5,000.00
VPL
3,246.26
-5,130.61
3,115.65
Deciso*
aceita
rejeita
ACEITA
Taxa
Anos
10%
12%
14%
a)
b)
c)
-24,000.00
-24,000.00
-24,000.00
5,000.00
5,000.00
5,000.00
5,000.00
5,000.00
5,000.00
5,000.00
5,000.00
5,000.00
5,000.00
5,000.00
5,000.00
5,000.00
5,000.00
5,000.00
5,000.00
5,000.00
5,000.00
5,000.00
5,000.00
5,000.00
5,000.00
5,000.00
5,000.00
VPL
2,674.63
838.20
-805.68
Deciso*
Aceita
aceita
rejeita
Taxa
14%
Anos
-26,000.00
-500,000.00
-170,000.00
-950,000.00
4,000.00
100,000.00
20,000.00
230,000.00
VI
0.00 FC
4,000.00
120,000.00
19,000.00
230,000.00
0.00
4,000.00
140,000.00
18,000.00
230,000.00
0.00
4,000.00
160,000.00
17,000.00
230,000.00
20,000.00
4,000.00
180,000.00
16,000.00
230,000.00
30,000.00
4,000.00
200,000.00
15,000.00
230,000.00
0.00
4,000.00
14,000.00
230,000.00
50,000.00
4,000.00
13,000.00
230,000.00
60,000.00
4,000.00
12,000.00
70,000.00
10
4,000.00
11,000.00
-83,668.24
116,938.70
VPL
-5,135.54
53,887.93
Deciso*
rejeita
aceita
rejeita
aceita
-80,000.00
X
9,963.63
aceita
Taxa
15%
Anos
-85,000.00
-60,000.00
18,000.00
12,000.00
VI
50,000.00 FC
18,000.00
14,000.00
30,000.00
18,000.00
16,000.00
20,000.00
18,000.00
18,000.00
20,000.00
18,000.00
20,000.00
20,000.00
18,000.00
25,000.00
30,000.00
18,000.00
18,000.00
X
X
-130,000.00
40,000.00
50,000.00
VPL
-4,228.21
2,584.34
15,043.89
Deciso*
rejeita
aceita
aceita
Classif.
*Preencha com aceita ou rejeita.
a)
b)
c)
Ano
Projeto A
Projeto B
Projeto C
Projeto D
-90,000.00
-490,000.00
-20,000.00
-240,000.00
20,000.00
150,000.00
7,500.00
120,000.00
25,000.00
150,000.00
7,500.00
100,000.00
30,000.00
150,000.00
7,500.00
80,000.00
35,000.00
150,000.00
7,500.00
60,000.00
40,000.00
TIR
17.43%
7,500.00
8.62%
25.41%
Custo de Capital
Ano
15%
Projeto X
Projeto Y
-500,000.00
-325,000.00
100,000.00
140,000.00
120,000.00
120,000.00
150,000.00
95,000.00
190,000.00
70,000.00
250,000.00
50,000.00
TIR
Aceita/Rejeita
Deciso
16%
rejeita
17%
aceita
x
a)
b)
c)
Custo de Capital
Ano
12%
Projeto A
Projeto B
-130,000.00
-85,000.00
25,000.00
40,000.00
35,000.00
35,000.00
45,000.00
30,000.00
50,000.00
10,000.00
35,000.00
5,000.00
VPL
3,889.17
9,161.79 a)
Deciso*
rejeita
aceita
TIR
13%
18%
Deciso*
rejeita
aceita
b)
Certeza
A (ajustados)
Fator Desc.
Vl.Presente
35,000.00
0.8695652
30,434.78
0.8
28,000.00
0.7561437
21,172.02
0.6
21,000.00
0.6575162
13,807.84
0.6
21,000.00
0.5717532
12,006.82
0.2
7,000.00 0.4971767
Vl. Presente dos fluxos
Investimento Inicial
VPL (Ajustado)
3,480.24
80,901.70
95,000.00
-14,098.30
7.00%
8.00%
9.00%
10.00%
11.0%
12.00%
13.00%
14.00%
15.00%
16.00%
17.00%
b) Use o VPL para avaliar os projetos, aplicando equivalentes a certeza (pg. 68) para tra
Custo de capital
10%
Ano
Projeto A
Projeto B
Anos
Certeza (A)
0.95
7,000.00
A (ajustados)
6,650.00
0.95
0.9
0.9
7,000.00
6,300.00
0.9
0.85
0.9
7,000.00
0.9
0.7
6,300.00
Vl. Presente dos fluxos
Investimento Inicial
VPL (A)
Projeto A
Projeto B
Investimento
Inicial
15,000.00
20,000.00
Vida do projeto
3 anos
3 anos
Anos
Certeza (B)
7,000.00
10,000.00
0.9
10,000.00
9,000.00
0.4
1.8
0.85
10,000.00
8,500.00
0.7
10,000.00
Entradas de
Caixa anuais
Coeficiente
variao
Custo de capital
10%
B
B (ajustados)
7,000.00
Vl. Presente dos fluxos
Investimento Inicial
VPL (B)
c) Use o VPL para avaliar os projetos aplicando taxas de desconto ajustadas ao risco (TD
Coeficiente var.
0.40
1.80
TDAR
9.00%
16.00%
Anos
-15,000.00
-20,000.00
1
2
3
7,000.00
7,000.00
7,000.00
2,719.06
x
10,000.00
10,000.00
10,000.00
2,458.90
VPL
Melhor projeto
m custo de capital de 10%, calcule o valor presente liquido (VPL) de cada projeto;
Vl.Presente
0.9090909
6,045.45
0.8264463
5,206.61
0.7513148
Vl. Presente dos fluxos
Investimento Inicial
4,733.28
15,985.35
15,000.00
985.35
Fator Desc.
Vl.Presente
0.9090909
8,181.82
0.8264463
7,024.79
0.7513148
Vl. Presente dos fluxos
Investimento Inicial
5,259.20
20,465.82
20,000.00
465.82
o taxas de desconto ajustadas ao risco (TDAR pg. 69) para tratar o risco;