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40

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/5 DO

h*io = /C ooS>o

=7

-gt)

="

4o

Uf= ?

: 4,4
VF=

".

' 3,oml [r. .


L 4,49b

il, \
.----_----I+

4.

-- /1,

fr,

rkl ,

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ift -oc

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iill a1/, "u.,"s, 1^ )*.,o',
l

Apndice Il
Valor presente de una anualidad de $1,

PV,,o

Porcentaie
6

0.971
1.913
2.829
3.717
4.580

0.362
1.886
2.775
3.630
4.452

0.952
1.859
2.723
3.546
4.329

0.943
1.833

0.935
1.808

2.673

2.624

3.465
4 212

5.601
6.472
7.325
8.162
4.S83

5.417
6.230

5.242
6.002
6.733
7.435
8.111

5.076
5.786
6.463
7.108
7.722

4.917
5.582
6.210
6.802
7.360

0.368 9.787
10.575

9.253
9.954
10.635
11.2S6
1 1.938

Periodo

10

1
12
13
14
t5
1

0.9s0

0.980

1.970
2,941
3.902
4.853

1.942
2.444
4.713

5.735
6.728
7.652
8.566
I 471

3.808

11.255
12.134
13.004
13.865

11.348
12.106
12.849

19
20

14.718
15.562
16.398
17.226
18.046

25

22.023 19-523

30

25.808 22.396

16

17

12

4.tm

4.7A7
5.349
5.971
6.515
7.024

4.623
5.206
5.747
6.247
6.710

4.4A6 4.355

5.033
5.535
5.995
6.418

8.760 8.306 7.AA7 7.499


9.385 8.863 8.384 7.943
9.986 9.394 8.853 8.358
10.563 9.893 9.295 8.f45
11.118 10.380 9.712 9.108

7.139
7.536
7.904
A.244
8.559

6.805
7.161
7.487
8.061

7.367
7.606

11.652 10.838 10.106 9.447


12"166 11.274 10.477 9.763
12.659 11.690 10.828 10.059
'13.134 12.085 11.158 10.336
13.590 12.462 11.470 10.594

8.851
9.122
9.3f2
9.604
9.818

A.313

7.424

8.530

2.531 2.487 2.444 2.402 2.361


3.240 3.170 3.102 3.037 2.974
3.890 3.791 3.636 3.605 3.517

a.sM

3.433

3.889 3.784 3.685

30

40

50

0.714
1.224
1.589
1.849
2.035

0.667
1.111
1.407
1.605
1.737

2.951 2.643 23A5


3.161 2.@2 2.50A
3.32S 2.925 2.598
3.463 3.019 2.665
3.571 3.092 2.715

2.168
2.26s
2.331
2.379
2.414

1.424

3.656 3.147 2.f52 2.438


3.725 3.190 2.779 2.456
3.780 3.223 2.799 2.469
3.A24 3.249 2.814 2.47A
4 675 3.A59 3.264 2.425 2.484

1.977
1.98s
1.990
1.993

2.AU 2.489

0.840 0.833
1-547 1.528
2.140 2.106
2.639 2.589
3.058 2.gS',t

3.498

3.410
3.706
3.954
4.163

3.326
3.605
3.837
4.031
4.192

0.800 0.769
1.e0 1.361
1.952 1.81 6
2.362 2.166
2.689 2.436

35
0.741
1.289
1.696
1.997
2.220

0.847
1.566
2.174
2.690
3.127

4_111

4.8@
5.335
5.759
6.145

4.712
5.146
5.537
5.889

4.564
4.Sffi
5.324

6.495
6.814

6.207
6.492
6.750
6.982
7.191

5.93a s.7 5.453 5.234


6_f# 5.S18 5,660 5.421
6.424 6.122 5.e42 s.ffi
6.628 E-2 6-2 5.724
6-81r 6.62 6.142 5.447

5.029 4.836 4.656


s.1s7 4.988 4.793
s s2
5 118 4.910

7.379 6.974 6.604 6.265 5.954


7.515 7.1l}2 6.729 6.373 6.047
7.7V 7.2* 6.A40 6.467 6.1
7-839 7.366 6.S38 6.550 6.194
7.S63 7.469 7.m5 6.623 6-25S

5_664 5.405 5.162

5.273
5.316
5.353

5.033
5.070
5.101

4.730 3.887
4.7f5 3.910
4.AQ 3.928
4.843 3.S42
4.870 3.954

2.848 2.496
2.850 2.497

1.997
1.S98
1.999
1.999
1.999

A.OZ2

8.756
LS5O
3.129

3.998
4.423
4.799
5.132
5.426

2.914

25

20

0.870 0.862 0.855


',-626 1.6ffi 1.585
2.2A3 2.246 2.210
2.A55 2.75A 2.143
3.352 3.274 3.199

0.877
1.647
2.322

4.231

7.103

7.f46

l6

14

0.9'17 0.909 0.901 0.893 0.885


1.759 1.736 1.71 3 1.6S0 1.668

7.020
7.786

13.578 12.561
14.292 ',t3.166
14.992 13.754
15.674 14.324
16.3s1 .477

to
0.926
1.783
2.577
s312
3.993

8.201
8.365
B.514

4.2AA 4.160 4.039


4.639 4.4A7 4.344

4.946 4.772 4.607


5.2r6 s.019 4.833

3.589

3.8r2

3.922

4.078
4.303
4.494

4.207
4.45.t
4.659

4ffi 5229 5_008


575 5324 5.052

5.719 5.475
5_818 s.s34
5.877 s.5A4
5.929 5.628

5.22

4.339
4.486
4.61

4_715
4.802

4.327
4.439
4.533
4.611

4.A76
4.938

4.948

3.283
3.295
3.304
3.311
3.316

2.A40 2.492
2.A44 2.494

1.883

1.922
1.948
1.965

1-9S5

a.4 7.U3 7.330 6.873 6.4

6.097 5.766 5.457

5.135

4.948 3.9as 3.329 2.856 2.495

2.000

19.600

17

292 15.372 13.765 12.409 11.25A 10.274

9.427

8.694 8.055 7.436 7.003 6.ffi

6.17 s.ax 5.5f7

5.235

S7S 3 995 3.332 2.A57 2.500

2.000

40

32.835 27.355

23.115

19.793 17.159 1s.046 13.332 11.925 10.757

9.779

8.951 A.244 7.6s4 7.105

871 s.&8 s.2s8 4.957 3.999 3.333 2.857 2.500

2.000

50

39.196 31.424 25.730 21.482 ft.256 15.762 13.801 12.233 10.962 9.915 9.042 8.304 7.675 7.133 6.661 6.246 5.880 5.554 5.262 4.999 4.000 3.333 2.857 2.500

2,000

17-413

15.622 14.094 12.783 11.654 10.67s S.823 9.02

6.642

23

Apndice A
Valor futuro de $1,

FV,,

FV

PV(1

The McGraw-Hill Companies, 2008

i)'
Porcentaie

Periodo
1

2
3
4
5
6
7

10
11

12
13
14
15
16
17

18
19
20

10

1.O20 1.030 1.040


1.020 1.O40 1.061 1.082

1.01

1.030 1.061 f.093 1.f25

1.OA2 1.126 1-170


1.051 1.104 1.159 1.217

1.M1

1.062 1.126 1.194


1.072 1.149 1.230
1 0a3 1.172 1.267
1.094 r.19s 1.305
1.105 1.219 1.344
1.116
1.127
1.138
1.149
1.161

1.243
1.268
1.294
1.319

1.265
1.316
1.369
1.423
1.480

1.605 1.873
1.6s3 1.948
1.102
1

2.026

.754 2.107

1.806

2.191

30

1.348 1.811 2.427 3.243

50

1.340
1.407
1.477
1.551
1.629

1.419 1.501 1.5A7


1.504 1.606 1.714
1.594 1.71 I 1.851
1.689 1.a 1.999
1.791 1.967 2.159

2.075

1.898 2.105
2.012 2.252
2 133 2.410
2.261 2.579
2.397 2.759

2.183
2.292
2.407
2.527
2.653

1.980

2.332
2.518
2.720
2.937
3.172

.100
1.210
1.331
1.464
1.611
1

10
1.232
1.368
1.518
1.685
1.1

1.870

1.677

L824

1.949

2.476

1.S93
2.172
2.367

2.144

2.305
2.558
2.839

2.580

2.853

2.413

3.r38

2.358
2_594

3.152
3.498

3.066

3.342

3.797

4.310

3.6Q

4_177

4.785

2.540 2.952 3.426 3.970


2.693 3.159 3.700 4.324
2.A54 3.380 3.996 4.717
3.026 3.617 4.316 5.142
3.207 3.870 4.661 5.604

4.595
5.054
5.560
6.116
6.727

5.311

2A2 1.641 2.0S4 2.666 3.386 4.292 5.427 6.848

25

40

1.060 1.070 l.OaO 1.090


1 124 1.145 1.166 1.188
1 191 1.225 1.260 1.295
1.262 1.31 1 1.360 1.412
1.338 1.403 1.469 1.539

1.384 1.539 1.710


1.426 1.601 1.796
1.469 1.665 1.886

1.51s 1.732
f.346 1.558 1.801

1.173 1.373
1.1 84 1.400
1.196 1.428
't .208 1.457
1.220 1.4A6

1.050
1.103
1.158
1.216
1.276

tt

8.623

10.835

s.895
6.544

7.263
8.062
13

5a5

13

14

1.120
.254
.405
1.574
1.762

1.130
1.277
1.MS
1.630
1.A42

1.140
1.300

1.974
2.211
2.476
2.773
3.106

2.082
2.353
2.658
3.004
3.395

2-195

3.479
3.896
4.363
4.887
5.474

3.836
4.335
4.898
5.535
6.254

4.226

6.130
6.866
7.690
8.613
9.646

7.067 8.137
7.S86 9.276
9.024 10.575

1
1

t7

1.482
1.689
1.925

2502
2.453

3.252
3.747

4.818

5.492
6.261
7.138

f5
1.150
1.323
1.521
1.749
2.011

1.190
1.416
1.685
2.005
2.386

1.200
1.440
1.728
2.074
2AAa

1.250
1.563
1.953
2.441
3.052

1.300
1 -690
2.197
2.856

2.565
3.001
3.511
4.108
4.407

2.700
3.185
3.759
4.435
5.2U

2.440

2.986
3.583
4.300
5.'f60
6 1A

3.815
4.76A
5.960
7.451
9.313

4.427
6.276
8.157
10.604
13.786

7.430
a.s16
10.6S9
12.839
15.407

11.U2
14.552
18.130
22.737
2AA22

23.298
30.288
39.374
51.186

2f.252
32r',29

18.488
2.1A6
26.623
31.948
38.338

35.527
44.409
55.511
69.389
86.736

n.388

9s.396 264.70

2.4?6
2.826
3.274
3.803
4 411

4.652
5.350
6.15s
7.076
a.137

5.117
5.936
6.8A6
7.988
9-266
10.74A
12.46A
14.463
16.7n
19.461

16.879
19.748
23.106

14.129
16.672
19.673
23.214
27.393

2.091

50.658

62.669

11.523

13.743

000 21.231

26.462

32.919 40.A74

12.056

1.474
2.192

1.180
1.392
1.643
1.939
2.2A8

2.313
2.660
3.059
3.518
4.046

9.358
10.761
12.315
14.232
16.367

10.1S7

30

17

1.160
1.346
1.56 t
1.811
2.100

1.170
1.369
1.602

5.624
6.580
7.69S

9.m7
10.539
12.330

14.426

6.176
7.248
8.599
10.147
11.974

3.379
4.021

4.785
5.696

6.m
8.0&
9.5S
11-420
13.590

16.172
19.244

3.713

17.922

66.542
86.504
112.46

f46.1S
1S0.05
705.64

4.322 5.743 7.612 ',10.O63 13.268 17.449 22.A92 29.960 39.116 50.950 66.212 85.850 111.07 143.37 144.68 2373A AO7.79 2620-0
7 523.2
36 119.
1 469.8
267.A6 37A.72 533.87 750.38 1 051.7
148s 220A 3.262 4.AU 7.040 10.286 14.974 21.725 31.4A9 45.259 65.001 93.051 132.78
4e7
929.
70
065.
988.9
9
100.4
2566.2
3927.4
5
700.23
1
083.7
1
670.7
28S.O0
450.74
117.39
184.57
1.645 2.692 43A4 7.107 11.467 18.420 29.457 46.902 74.358
@

The McGraw-Hill Companies, 2008

Apndice B
Valor presente de

$1,

pv=FVt+ri

PV,,

Porcentaje
Periodo

0.990
0.s80
0.971
0.961
o 951

1l
13
14
15

943
0.890
0.840
0.752
0747

0.935
0.a73
0.816
0.763
0.713

0.926
0.857

0.837
0.8f3
0.789
0.766
0.744

0.790
0.760
0.731
0.703
0.676

a.746
a.711
a.677
0.645
0.614

0.705
0.665
0.627
0.592
0.s58

0.666
0.623
0.582

0.804
0.788
0-773
0.758
4.743

0.722
0.701
0.681
0.661

0.650
0.625
0.601
0-577
0.555

0.724
4.714
0.700
0 686
0.673

0.623
0.605
0.587
0 570
0.554

0.971
0.943
0.915
0.888
0 863

0.S62
0.S25
0.889

0.942 0.888
0.933 0.871
0.923 0.853
0.914 0.837
0.905 0.820
0.896
0.887
0.879
0.870
o.a61
0.853

16
17
18
19
20

0.8s5
0.422

0.952
0.907
0 864
0.823
o.7a4

A.844

0.836
0.828

0.820

0.980
0.961
0.942
0.924
0 906

0_642

0.534
0.513
0 494
0_475

0-456

to
0.309
0.826
0.751
0.683
0.621

0.735
0.681

917
a42
0772
0 708
0 650
0.596
0 547
0 502
0.460
0 422

0.564

0.508

630
0.s83
0.540
0.500
0 463

0.585
0.557
0.530
0.505
0.481

0.s27 0.475
0.497 0 M
0.469 0.415
0 M2 0.388
0.417 0.362

0.429
0.397
0.368
0.340
0.315

0.388
0.356
0.326
0.299
0.275

0.458
0.436
0.416
0.396
a.377

0.394
0371
0.350
0.331
0.312

a.292
a.270
0.250
0232
0.215

0.252
0.231
a.212
0.194
0.178

0.5&

0.339
0.317
0.296
0.277
0.258

0
0

4.794

t3

'12

11

0.855
0.731
0.624
0.534
0.456

0.847
0.718
0.609
0.516
0.437

0.840
0.706
0.593
0.499
0.419

0.833
0.694
0.579

0.480 0.456
0.425 0.400
0.376 0.351
0.s33 0.300
0.295 0_270

4.432
0.376
4.327
4.284
4.247

0.410
0.354
0.305

0.370
0.314
0.266
0.225
0.191

0.352
0.296

0.335

0.262

0_279

0.233

0.210
0.168

0.209
0.176

0_194

0.134

A-227

0.390
0.333
0.285
0.243
0.208

0.215
0.1a7
0 163
0.141
a.123

0 195

o.17A 0.162

0.148

0.135
0.1 12

0.593 0.567 0.543


0.535
0.482
4.434
0.391
0.352

0.507
4.452

0 350
0.319
0.290
0.263
0.239

0.317
0.286
0.258

4.287
4.257
0.229
0.205
0.183

0.261

0 218
0.198
0.180
0.164
0.149

0.18a
0.170

0.163
0.146
0.130
0.116
0 104

0.141
o.125
0.1 1
0.098
0.087

0.51 3

0-467

0.424
0.386

0_232

0.209
0.'153

0.138
a.124

4.404
0.361
4.322

20

19

18

14

0.862
0.743
0.641
0.552
o 497 0 476

0.901 0.893 0.885


0.A12 A.797 0 783
0.731 A.712 0.6S3
0.659 0 636 0.613

0_231

0.204
0.181
0.160

0.877
0.769
0.675
0 592

0.5f9

0.237
0.208

0.142
0.160
0.140
0.123
0.108
0.095
0.083
0.073

0.870
0.756
0.658
a.572

0.107
0.093
0.081
0.070
0.061

0.26s

0.152
0.130
0.111
0.095

0.168

0.14s
0.125
0.108

0.081
0.069
0.059
0.051
0.043

0.093
0.080
0.069

0'060
0.051

0.4A2

0.402

0.249

0.137

0.162

0.104
0.086
0.074

0.099
0.084
0.071
0.060
0.051
0.043
0.037

0.207
0.159
0.123
0.094
0.073

165
0122
0.091
0.067
0.050

0.133
0.095
0.068
0.048
0.035

0.088
0.059
0.039
0.026
0.017

0.037
0.027
0.020
0.015

0.012

0.002
0.001
0.001
0

0.078

o.044

0.06s

0.035

0.054
0.045
0.038
0.031
0.026

0.028
0.023
0.018
0.014
0.012

o.o15
0.012
0.009
0.007
0.005

0.008
0.006
0.005
0.003
0.002

0.005
0.003
0ao2
0.002
0.001

0.001

0.001

0.062
0.052
0.044
0.037
o 031

0.610

0.478

0.375

0.295 0.233

0.184

0.146 0.116

0092

a.a7

0 059

0.447

0.038

0.030

0.024

0.020 0.016

0.013

0.010

742

0.552

0.412

0.308

0.231 0.174

0.131

0.099 0 075

0.057

0.444

0 033

0.026

0 c20

0.015

0.012

0.009 0.007

0.005

0.004

40

a.612

0.453

0.307

0.208

0.142 0.097

0.067

0.046 0 032

0.022

0.01s

0.011

0.008

0.005

0.0M

0.003

0.002 0.001

0.001

0.001

s0

0.608

4.s72

o.22A

0.141

0.087 0.054

0.034

0.009

0.005

0.003

0.002

0.001

001

0.001

000

013

0.107

0.667

0.025
0.018
0.013
0.009
0.006

0.780

0.s28

0.714
0.510
0.364
0.260
0.186

0.056
0.043
0.033
0.025
0.020

30

o21

0.410

0.741
0.549
0.406
0.301
0.223

0.086
0.069
0.055

25

0.512

0.769
0.592
0.455
0.350
0.269

0.os3

0.',124

0.116

0.800
0.640

0.01

0.4M
0.296
0.198

0.132

0.008
0.005
0.003
0.002

00

0.001

O The McGraw-Hill Companies, 2008

Apndice

Valor futuro de una anualidad de $1 ,

FV^

FV,,o

[(] + i)" 1l
: AL--=-i
l
Porcentaie

Priodo I
1 000 1.000
1
2 ?O1A 2A2A
3 3.030 3.060
4 4.060 1.122
5
5.101 5.204
6
7

to

10

1.000

2030

3.091

4-1U

5.309

0m
2MA
1

3.122
4-246
5.416

1.000
2.090
3.27a
4.573
5 526 5 637 s.75r s.867 5.985

1.oo0
2.100
3.310
4.641
6.1 05

1.000
2.1 10

153 7.336 7.523 7.716

7.913

1.000 1 000 1.000


2.a5C 2.060 2.O7A
3 153 3.184 3215
4.3ra 4375 4.44A

1s2 6.308 6-468 6.633 6.tr2 a.375

1.000
2.080
3.246
4.506

1.000
2.120
3.374
4.779
6.353
8.115

t4

t5

000
2.140
3.440
4.921
6.610

1.000
2.154
3.473
4.993
6.742

1.000
2.160
3.506
5.066
6.877

1.000
2.170
3.53S
5.141
7.014

1.000
2.180
3.572

8.323
10.405
12.757
15.416
18.420

8 536
8.754
10.730 11.067
't3.233 13.7?7
16.085 16.786

4.977

11.414
14.240

e.207
11.772
14.773
18.285
22.393

9.442
12.142

23.045
27.271
32.089
37.581
43.842

_000

17.560 18531
20.141 21.3U
22.953 24.523
15.974 17.086 18.232 19.599 21.015 22.550 24.215 26019 27.975
17.293 18.599 20.024 21.579 23276 25.12s 27.152 29361 31.772

21 814
2s.650

34.405

20.655
24.133
28.029
32.393
37.280

35.950 39.1S0
40.545 4.501

42.753
48.884

46.672
53.739

16
17
18
19
20

17.25A 18.639 20.157 21.A25 23.657


18.430 2A.O12 21.762 23.698 25.840
19.615 21.412 23.414 25.645 2A.132
20.811 22.A41 25.117 27.671 30.539
22.019 24.297 26.A70 2977A 33.066

25

28.243

32.030 36.459 41.646 47.727 54865 63.249 73.106 84.701 94.347

34.785

40.588 47.575 56.085 66.433 79058 34.461 113.28 136.31 164.49

567 12.169 12.808 13.486 14.207 14.972 15.7A4 16.645


12683 13.412 14.192 15.026 15.917 16.870 17.888 18.977
13.809 14.680 15.618 16.627 17.713 1A.A82 20.141 21.45s
14.947
16.097

48.886

60.402

75

401

64.463 84.s79 112.AD

95.026 120

80

25.673 27.ABa 30.324


20.213 30.840 33.750
30906 33.999 37.450
33760 37.379 41.446
367a6 40.995 45.762

154.76 199.64 259.06

33.003
36.974
41.301
46.018

45.s99
s1.1s9

s1.160 57.275

337

89 442.59

1s2.6f 209.35 29034 406.53 573.77 815.08

19.561

22.713
26.212

s0.09s

50396
56.939
64.203
114.41
199.02
s81.83

17.s9

55_750

63.440
72.052
133.33
241

.33

767.09

2.130
3.407
4.850
6.480

10.089
12.300
14.776

11

40

3.342
4.710
6.228

f3

12

7.214 7.434 7.662 7.898 8.142 8.394 8.6a4 8.923 9.200 9.487 9.783
8.286 8.583 8.892 9.214 9.s49 9.897 10.2& 10.637 11.028 11.436 11.859
9.369 9.755 10.159 10.583 11.O27 11 491 11.978 12.488 13.021 13.579 14.164
10.462 10.950 11.464 T2.006 12.578 13.181 13.816 r4.487 15.193 15.S37 16-7

11
12
13
14
15

30

1'l

17

19.337 20_304

29.985
34.883
40.417

24_349

29.002
34.352
40.505
47.580

25.733
30.850
36.786

43.672
51.660

55.717 60.925
65.075 11.673
75.836 U.141
48.212 98.603
91.025 102.44 115.38
50.980
59.118
68.394
78.963

61_725

70_749
80.947
155.62

18r.87 212.79

293 .20

356.73 434.75

1 013.7

17.s19
21.321

342.0 1779.1

27.200
32.824
33.404
47.103
56.1 10
66.649
78.979
93.406

1.000
2.190
3.606
5.291
7.297

5.215
7.154

15.327
1e.086
23.521

28.755
34.93
42.219
50.818

60.965

3.640
5.368
7.442

9.683
12.523
15.902
19.923
24.701

9.930
12.916
16.499
20.7S9
25.95S

1.259
15.073
19.842
25.802
33.253

30.404
37.180
45_244
54_441
66.261

32.150
39 581
48.497
59.196

42.s66
54.208
68.760
46.s49
10s.6e

79.850

72.939
87.068

1.000
2.250
3.813
5.766
4.207

1.000

2200

96.022

115.27
fs.17
165.42

72.035

0.29
130.03

249.21

292.11

342.60

402.04

530.31

647.44

790.95

966.7

1 181.9

3227

4 163.21

529.8

7 343.9

30 089

813

31

515

45497 2802s6

2 360.8

3 134.5

163.9 1 668.8 2400.0 3459.9 4994.5 7217.7 10436 15090

21

17.583
23.858
32.015

42.619
56.405
74.327

97.625
121 91
16'1.29

138.11
173.64
218.05
273.56
342.95

47.442
105.S3
128.12
154.74
186.69
471.S8

12.756

103.74
123-41
146.63

1 1

1.000
2.300
3.990
6.187
9.043

054.8
2

218.47
285.0r
371.52
483.97

630.17
234A.AO

730.0

120 393

1S976

The McGraw-Hill Companies, 2008