ANEXO MANUAL DIDAC

IN

SERIES UNIFORMES
Anualidades vencida
Anualidades anticipada
Anualidad diferida
Anualidad perpetua

SERIES VARIABLES
Gradiente
Gradiente
Gradiente
Gradiente

aritmtico
aritmtico diferido
geomtrico
geomtrico diferido

UAL DIDACTICO DE MATEMATICAS FINA

INDICE TEMATICO

CONVERSION DE TASAS
Tasa nominal
Tasa efectiva anual

DE MATEMATICAS FINANCIERAS
TEMATICO

SISTEMAS DE AMORTIZACION
Cuota fija
Cuotas extraordinarias
Anualidad diferida
Gradiente aritmtico
Gradiente geomtrico

INDICADORES DE CONVENIENC
VPN
TIR
TIRM
CAUE
B/C

AS

S DE CONVENIENCIA

Valor Presente de una serie uniforme

con anualidad vencida
Sintaxis
(P/A, i%, n)
Tasa Per.
9.00%

Nper

ANUALIDAD

12

500,000

VP
3,580,363

Valor Futuro de una serie uniforme

con anualidad vencida

Sintaxis
(F/A, i%, n)
Tasa Per.
2.50%

Nper

ANUALIDAD

24

100,000

VF
3,234,904

Valor de la anualidad vencida

conociendo el valor presente
Sintaxis
(A/P, i%, n)
Tasa Per.
1.00%

VP

60

30,000,000

ANUALIDAD
667,333

Valor de la anualidad vencida

conociendo el valor futuro

Sintaxis
(A/F, i%, n)
Tasa Per.
6.50%

Sintaxis

Nper

Nper

VF

10,000,000

ANUALIDAD
992,373

Valor Presente de una serie uniforme

con anualidad anticipada

(P/A, i%, n)
Tasa Per.
4.00%

Sintaxis
(F/A, i%, n)
Tasa Per.

Nper

ANUALIDAD

750,000

VP
4,088,867

Valor Futuro de una serie uniforme

con anualidad anticipada
Nper

ANUALIDAD

VF

1.00%

Sintaxis
(A/P, i%, n)
Tasa Per.
2.50%

Sintaxis
(A/F, i%, n)
Tasa Per.
7.00%

3,595,641

380,000

Valor de la anualidad anticipada

conociendo el valor presente
Nper

VP

12

24,000,000

ANUALIDAD
2,282,625

Valor de la anualidad anticipada

conociendo el valor futuro

Nper

VF

12

5,000,000

ANUALIDAD
261,224

ANUALIDAD DIFERIDA
Valor Presente
Con perodo de gracia (r) y perodo de pagos (s)
Sintaxis
P=(P/A , i%, r, s)
Tasa Per.
0.50%

ANUALIDAD

23

36

1,000,000

VP
29,308,508

Valor de la anualidad vencida diferida

conociendo el valor presente
con perodo de gracia (r) y perodo de pagos (s)
Sintaxis
A=(A/P , i%, r, s)
Tasa Per.
0.75%

VP

20

28

50,000,000

ANUALIDAD
2,306,618

ANUALIDAD PERPETUA
Valor Presente de una anualidad perpetua

Sintaxis

(P/A, i%)
Tasa Per.
1.39%

ANUALIDAD
750,000

VP
53,956,835

GRADIENTE ARITMETICO
Valor Presente
Gradiente Aritmtico Vencido Creciente
Sintaxis
P=A(P/A ,i%, n) + G(P/G, i%, n)
Tasa Per.
Nper
Pago
0.75%

180

350,000

Gradiente
3,000

VP
55,185,497

Valor Presente
Gradiente Aritmtico Vencido Decreciente

Sintaxis
P=A(P/A ,i%, n) + G(P/G, i%, n)
Tasa Per.
Nper
Pago
0.75%

180

350,000

Gradiente
-3,000

VP
13,829,889

Valor Presente
Gradiente Aritmtico Anticipado Creciente

Sintaxis
P=A(P/A ,i%, n) + G(P/G, i%, n)
Tasa Per.
Nper
Pago
1.31%

36

120,000

Gradiente

VP
8,129,035

10,000

Valor Presente
Gradiente Aritmtico Anticipado Decreciente

Sintaxis
P=A(P/A ,i%, n) + G(P/G, i%, n)
Tasa Per.
Nper
Pago
1.37%

36

120,000

Gradiente
-1,000

VP
2,979,164

Valor Futuro
Gradiente Aritmtico Vencido Creciente

Sintaxis
F=A(F/G ,i%, n) + G(F/G, i%, n)
Tasa Per.
Nper
Pago
1.00%

12

250,000

Gradiente
20,000

VF
4,535,632

Valor Futuro
Gradiente Aritmtico Vencido Decreciente

Sintaxis
F=A(F/G ,i%, n) + G(F/G, i%, n)
Tasa Per.
Nper
Pago
1.00%

Sintaxis

12

250,000

Gradiente
-20,000

Valor Futuro
Gradiente Aritmtico Anticipado Creciente

VF
1,805,620

F=A(F/G ,i%, n) + G(F/G, i%, n)

Tasa Per.
Nper
Pago
1.00%

12

250,000

Gradiente

VF
4,580,988

20,000

Valor Futuro
Gradiente Aritmtico Anticipado Decreciente

Sintaxis
F=A(F/G ,i%, n) + G(F/G, i%, n)
Tasa Per.
Nper
Pago
1.00%

12

250,000

Gradiente
-20,000

VF
1,823,676

Valor de la primera cuota

Gradiente Aritmtico Vencido Creciente dado VP
Sintaxis
(A/P, G ,i%, n)
Tasa Per.

Nper

VP

Gradiente

1.02%

180

224,000,000

5,000

CUOTA
2,411,677

Valor de la primera cuota

Gradiente Aritmtico Vencido Decreciente dado VP
Sintaxis
(A/P, G ,i%, n)
Tasa Per.

Nper

VP

Gradiente

1.02%

180

224,000,000

-5,000

CUOTA
3,046,042

Valor de la primera cuota

Gradiente Aritmtico Vencido Creciente dado VF
Sintaxis
F=A(F/G ,i%, n) + G(F/G, i%, n)
Tasa Per.
Nper
VF
4.00%

12

100,000,000

Gradiente
500,000

CUOTA
4,138,043

Valor de la primera cuota

Gradiente Aritmtico Vencido Decreciente dado VF
Sintaxis
F=A(F/G ,i%, n) + G(F/G, i%, n)
Tasa Per.
Nper
VF
4.00%

12

100,000,000

Gradiente
-500,000

CUOTA
9,172,391

Valor de la primera cuota

Gradiente Aritmtico Anticipado Creciente dado VP
Sintaxis
(A/P, G ,i%, n)

Tasa Per.

Nper

VP

Gradiente

1.02%

180

224,000,000

5,000

CUOTA
2,384,034

Valor de la primera cuota

Gradiente Aritmtico Anticipado Decreciente dado VP
Sintaxis
(A/P, G ,i%, n)
Tasa Per.

Nper

VP

Gradiente

1.02%

180

224,000,000

-5,000

CUOTA
3,018,399

Valor de la primera cuota

Gradiente Aritmtico Anticipado Creciente dado VF
Sintaxis
F=A(F/G ,i%, n) + G(F/G, i%, n)
Tasa Per.
Nper
VF
4.00%

12

Gradiente

100,000,000

500,000

CUOTA
3,882,073

Valor de la primera cuota

Gradiente Aritmtico Anticipado Decreciente dado VF
Sintaxis
F=A(F/G ,i%, n) + G(F/G, i%, n)
Tasa Per.
Nper
VF
4.00%

12

Gradiente

100,000,000

-500,000

CUOTA
8,916,421

Valor Presente
Gradiente Aritmtico Diferido

Sintaxis
P=(P/G ,i%, r,s)
Tasa Per.

Nper

CUOTA

2.50%

42

36

250,000

75,000

Valor de la primera cuota

Gradiente Aritmtico Diferido

Sintaxis
A=(A/P ,i%, r,s)
ir

is

3.00%

4.00%

19

15

800,000

VP
27,731,203

do
VP
105,000,000

CUOTA
5,611,428

GRADIENTE GEOMETRICO

Sintaxis
(P/G, A, i%, n)
Tasa Per.
1.50%

Sintaxis
(P/G, A, i%, n)
Tasa Per.
0.50%

Valor Presente de una serie

Gradiente Geomtrico Vencido Creciente
Nper

Pago

Gradiente

300,000

10%

VP
1,746,962

Valor Presente de una serie

Gradiente Geomtrico Vencido Decreciente
Nper

Pago

Gradiente

120,000

-5%

VP
710,450

Valor Presente de una serie

Gradiente Geomtrico Anticipado Creciente

Sintaxis
(P/G, A, i%, n)
Tasa Per.

Nper

Pago

Gradiente

1.00%

12

1,250,000

5%

VP
18,739,644

Valor Presente de una serie

Gradiente Geomtrico Anticipado Decreciente

Sintaxis
(P/G, A, i%, n)
Tasa Per.

Nper

Pago

Gradiente

3.02%

28

1,500,000

-1%

Sintaxis
(F/G, A, i%, n)
Tasa Per.
2.36%

VP
25,828,735

Valor Futuro de una serie

Gradiente Geomtrico Vencido Creciente
Nper

Pago

Gradiente

12

80,000

1%

VF
1,153,823

Valor Futuro de una serie

Gradiente Geomtrico Vencido Decreciente
Sintaxis
(F/G, A, i%, n)
Tasa Per.
2.36%

Nper
12

Pago
80,000

Gradiente
-1%

VF
1,039,388

Valor Futuro de una serie

Gradiente Geomtrico Anticipado Creciente

Sintaxis
(F/G, A, i%, n)
Tasa Per.

Nper

Pago

Gradiente

1.00%

12

1,250,000

5%

VF
21,116,300

Valor Futuro de una serie

Gradiente Geomtrico Anticipado Decreciente

Sintaxis
(F/G, A, i%, n)
Tasa Per.

Nper

Pago

Gradiente

1.00%

12

1,250,000

-5%

VF
12,340,200

Valor de la primera cuota

Gradiente Geomtico Vencido Creciente dado VP

Sintaxis
(A/G, P ,i%, n)
Tasa Per.

Nper

VP

Gradiente

1.00%

15

3,000,000

5%

CUOTA
151,767

Valor de la primera cuota

Gradiente Geomtico Vencido Decreciente dado VP
Sintaxis
(A/G, P ,i%, n)
Tasa Per.

Nper

VP

Gradiente

1.00%

15

3,000,000

-5%

CUOTA
299,529

Valor de la primera cuota

Gradiente Geomtico Anticipado Creciente dado VP
Sintaxis
(A/G, P ,i%, n)
Tasa Per.

Nper

VP

Gradiente

1.00%

15

3,000,000

5%

CUOTA
150,265

Valor de la primera cuota

Gradiente Geomtico Anticipado Decreciente dado VP
Sintaxis
(A/G, P ,i%, n)
Tasa Per.

Nper

VP

Gradiente

CUOTA

1.00%

15

3,000,000

296,563

-5%

Valor de la primera cuota

Gradiente Geomtico Vencido Creciente dado VF

Sintaxis
(A/G, F ,i%, n)
Tasa Per.

Nper

VF

Gradiente

3.33%

20,000,000

10%

CUOTA
1,580,599

Valor de la primera cuota

Gradiente Geomtico Vencido Decreciente dado VF
Sintaxis
(A/G, F ,i%, n)
Tasa Per.

Nper

VF

Gradiente

3.33%

20,000,000

-10%

CUOTA
3,067,407

Valor de la primera cuota

Gradiente Geomtico Anticipado Creciente dado VF
Sintaxis
(A/G, F ,i%, n)
Tasa Per.

Nper

VF

Gradiente

3.33%

20,000,000

10%

CUOTA
1,529,662

Valor de la primera cuota

Gradiente Geomtico Anticipado Decreciente dado VF
Sintaxis
(A/G, F ,i%, n)
Tasa Per.

Nper

VF

Gradiente

3.33%

20,000,000

-10%

Sintaxis
P=(P/k ,A, i%, r,s)
Tasa Per.
2.50%

CUOTA
2,968,554

Valor Presente
Gradiente Geomtrico Diferido
Nper

CUOTA

21

18

800,000

Valor de la primera cuota

Gradiente Geomtrico Diferido
Sintaxis
A=(A/k ,P,i%, r,s)
Tasa Per.

Nper

10%

12

10

8%

ferido
k
2.0%

VP
12,518,589

ota
ferido
VP

CUOTA

30,000,000

4,330,684

MODELO CONVERSION DE TASAS

CALCULO TASA NOMINAL
Ingreso de datos
Tasa Efectiva Anual
Perodo capitalizacin

18.5%
Mes

RESULTADOS
Tasa
Tasa
Tasa
Tasa

Nominal Anual vencida

peridica vencida
peridica anticipada
Nominal Anual anticipada

17.09%
1.42%
1.40%
16.85%

17.09%

TEA
PERIODO (n)

EA
RESULTADO
0.00%
17.09%
18.50%
0.00%
0.00%
0.00%
0.00%
0.00%
18.50%
17.09%
1

PERIODO

TASA
Nominal
Efectiva
FUENTE
0.00%
18.50%
0.00%
0.00%

12

Anual

TIPO
Vencido
Anticipado

PERIODO
No.
CAPITALIZA PERIODOS
CION
EN UN AO
Da
Mes
Bimestre
Trimestre
Semestre
Anual

365
12
6
4
2
1

MODELO CONVERSION DE TASAS

CALCULO TASA EFECTIVA ANUA

Ingreso de datos
Tasa Nominal
Perodo capitalizacin
TIPO

RESULTADO
Tasa Efectiva Anual

PERIODO
CAPITALIZACION
Da
Mes
Bimestre
Trimestre
Semestre
Anual

SION DE TASAS

FECTIVA ANUAL

e datos
18.00%
Mes
Vencido

TADO
19.56%

TASA
Nominal
Efectiva
No.
PERIODOS
EN UN AO
365
12
6
4
2
1

TIPO
Vencido
Anticipado

SISTEMA DE AMORTIZACION CUOTA FIJA

VR.CREDITO

Tasa Per.

Nper

15,000,000

2.00% MV

12 Meses

Cuota N
0
1
2
3
4
5
6
7
8
9
10
11
12

ANUALIDAD
FORMULA
EXCEL
1,418,394

Tabla de amortizacin
Cuota
Inters
Capital
1,418,394
1,418,394
1,418,394
1,418,394
1,418,394
1,418,394
1,418,394
1,418,394
1,418,394
1,418,394
1,418,394
1,418,394

300,000
277,632
254,817
231,545
207,808
183,597
158,901
133,711
108,017
81,810
55,078
27,812

1,118,394
1,140,762
1,163,577
1,186,849
1,210,586
1,234,797
1,259,493
1,284,683
1,310,377
1,336,584
1,363,316
1,390,582

1,418,394

Saldo Capital
15,000,000
13,881,606
12,740,844
11,577,267
10,390,419
9,179,833
7,945,036
6,685,542
5,400,859
4,090,483
2,753,898
1,390,582
0

Capital

SISTEMA DE AMORTIZACION CUOTAS EXTRAORDINARIAS

VR.CREDITO

Tasa Per.

Nper

70,000,000

2.00% MV

36 Meses

C. Extras

Tasa Per.

Nper

4,000,000

26.82% EA

3 Aos

PRIMERO

Hallar el valor presente de las cuotas extras

Tasa Per.

Nper

ANUALIDAD

26.82%

3 Aos

4,000,000

VP
FORMULA
7,601,751

EXCEL
7,601,751

SEGUNDO

Hallar el valor a diferir

VR.DIFERIR

$70.000.000 -7.601.751

62,398,249

TERCERO

Construir tabla de amortizacin cuotas mensuales y cuotas anuales

VR.CREDITO

Tasa Per.

Nper

62,398,249

2.00% MV

36 Meses

ANUALIDAD
FORMULA
EXCEL
2,448,061

2,448,061

Tabla de amortizacin cuotas mensuales

Cuota N
0
1
2
3
4
5
6
7
8
9
10
11

Cuota
2,448,061
2,448,061
2,448,061
2,448,061
2,448,061
2,448,061
2,448,061
2,448,061
2,448,061
2,448,061
2,448,061

Inters
1,247,965
1,223,963
1,199,481
1,174,509
1,149,038
1,123,058
1,096,558
1,069,528
1,041,957
1,013,835
985,151

Capital
1,200,096
1,224,098
1,248,580
1,273,552
1,299,023
1,325,003
1,351,503
1,378,533
1,406,104
1,434,226
1,462,911

Saldo Capital
62,398,249
61,198,152
59,974,054
58,725,474
57,451,922
56,152,899
54,827,896
53,476,393
52,097,859
50,691,755
49,257,529
47,794,618

12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36

2,448,061
2,448,061
2,448,061
2,448,061
2,448,061
2,448,061
2,448,061
2,448,061
2,448,061
2,448,061
2,448,061
2,448,061
2,448,061
2,448,061
2,448,061
2,448,061
2,448,061
2,448,061
2,448,061
2,448,061
2,448,061
2,448,061
2,448,061
2,448,061
2,448,061

955,892
926,049
895,609
864,560
832,890
800,586
767,637
734,028
699,748
664,781
629,116
592,737
555,630
517,782
479,176
439,798
399,633
358,665
316,877
274,253
230,777
186,431
141,198
95,061
48,001

1,492,169
1,522,012
1,552,453
1,583,502
1,615,172
1,647,475
1,680,425
1,714,033
1,748,314
1,783,280
1,818,946
1,855,325
1,892,431
1,930,280
1,968,885
2,008,263
2,048,428
2,089,397
2,131,185
2,173,808
2,217,285
2,261,630
2,306,863
2,353,000
2,400,060

46,302,449
44,780,437
43,227,984
41,644,483
40,029,311
38,381,836
36,701,411
34,987,378
33,239,065
31,455,785
29,636,839
27,781,515
25,889,084
23,958,804
21,989,919
19,981,656
17,933,228
15,843,831
13,712,646
11,538,838
9,321,553
7,059,923
4,753,060
2,400,060
0

CUARTO

Construir tabla de amortizacin total (cuotas mensuales + cuotas anuales)

Tabla de amortizacin total
Cuota N
0
1
2
3
4
5
6
7
8
9
10
11
12
13

Cuota
2,448,061
2,448,061
2,448,061
2,448,061
2,448,061
2,448,061
2,448,061
2,448,061
2,448,061
2,448,061
2,448,061
6,448,061
2,448,061

Inters
1,400,000
1,375,998
1,351,516
1,326,545
1,301,073
1,275,093
1,248,593
1,221,563
1,193,992
1,165,870
1,137,186
1,107,927
1,038,866

Capital
1,200,096
1,224,098
1,248,580
1,273,552
1,299,023
1,325,003
1,351,503
1,378,533
1,406,104
1,434,226
1,462,911
3,453,062
1,522,012

Saldo Capital
70,000,000
68,799,904
67,575,805
66,327,225
65,053,673
63,754,651
62,429,647
61,078,144
59,699,610
58,293,506
56,859,280
55,396,369
51,943,308
50,421,296

14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36

2,448,061
2,448,061
2,448,061
2,448,061
2,448,061
2,448,061
2,448,061
2,448,061
2,448,061
2,448,061
6,448,061
2,448,061
2,448,061
2,448,061
2,448,061
2,448,061
2,448,061
2,448,061
2,448,061
2,448,061
2,448,061
2,448,061
6,448,061

1,008,426
977,377
945,707
913,403
880,454
846,845
812,565
777,598
741,933
705,554
668,447
580,861
542,256
502,878
462,713
421,744
379,956
337,332
293,856
249,511
204,278
158,141
111,081

1,552,453
1,583,502
1,615,172
1,647,475
1,680,425
1,714,033
1,748,314
1,783,280
1,818,946
1,855,325
4,379,317
1,930,280
1,968,885
2,008,263
2,048,428
2,089,397
2,131,185
2,173,808
2,217,285
2,261,630
2,306,863
2,353,000
5,554,033

48,868,843
47,285,341
45,670,170
44,022,695
42,342,270
40,628,237
38,879,923
37,096,643
35,277,698
33,422,373
29,043,056
27,112,777
25,143,891
23,135,628
21,087,200
18,997,804
16,866,619
14,692,810
12,475,526
10,213,896
7,907,033
5,554,033
0

AS

Tasa Per.

Nper

ANUALIDAD

26.82%

3 Aos

4,000,000

Tabla de amortizacin cuotas anuales

Cuota N
0
1
2
3
4
5
6
7
8
9
10
11

Cuota

Inters

Capital

Saldo Capital
7,601,751
7,601,751
7,601,751
7,601,751
7,601,751
7,601,751
7,601,751
7,601,751
7,601,751
7,601,751
7,601,751
7,601,751

anuales)

12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36

4,000,000

2,039,107

1,960,893

4,000,000

1,513,114

2,486,886

4,000,000

846,027

3,153,973

5,640,859
5,640,859
5,640,859
5,640,859
5,640,859
5,640,859
5,640,859
5,640,859
5,640,859
5,640,859
5,640,859
5,640,859
3,153,973
3,153,973
3,153,973
3,153,973
3,153,973
3,153,973
3,153,973
3,153,973
3,153,973
3,153,973
3,153,973
3,153,973
0

SISTEMA DE AMORTIZACION ANUALIDAD DIFERIDA

Vr. Prstamo
Plazo total
Periodo gracia
Nmero pagos
Tasa nominal
TPM

50,000,000
36 MESES
12 MESES
24 MESES
21% NMV
1.8% MV

METODO 1

Hallar el valor de la anualidad por frmula

Tasa Per.

Valor de la anualidad vencida diferida

conociendo el valor presente
con perodo de gracia (r) y perodo de pagos (s)

1.8% MV

VP

12

24

50,000,000

ANUALIDAD
3,163,916

METODO 2

Hallar el valor futuro de $50.000.000 en el perodo 12

Tasa Per.

1.8% MV

VP

12

50,000,000

VF
61,571,966

A partir de este valor hallar el valor de la anualidad

Valor de la anualidad vencida
conociendo el valor presente ANUALIDAD

Tasa Per.

Nper

VP

1.75%

24

61,571,966

3,163,916

EXCEL
3,163,916

PERIODO DE GRACIA

Tabla de amortizacin anualidad diferida

Cuota
Inters
Capital
Saldo Capital
50,000,000
875,000
50,875,000
890,313
51,765,313
905,893
52,671,205
921,746
53,592,952
937,877
54,530,828
954,289
55,485,118
970,990
56,456,107
PERIODO DE GRACIA

Cuota N
0
1
2
3
4
5
6
7

FORMULA

3,163,916
3,163,916
3,163,916
3,163,916
3,163,916
3,163,916
3,163,916
3,163,916
3,163,916
3,163,916
3,163,916
3,163,916
3,163,916
3,163,916
3,163,916
3,163,916
3,163,916
3,163,916
3,163,916
3,163,916
3,163,916
3,163,916
3,163,916
3,163,916

987,982
1,005,272
1,022,864
1,040,764
1,058,977
1,077,509
1,040,997
1,003,846
966,045
927,582
888,446
848,626
808,108
766,882
724,933
682,251
638,822
594,633
549,671
503,921
457,371
410,007
361,813
312,777
262,882
212,114
160,457
107,897
54,416

PERIODO DE G

PERIODO DE G

8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36

2,086,406
2,122,918
2,160,069
2,197,871
2,236,333
2,275,469
2,315,290
2,355,807
2,397,034
2,438,982
2,481,664
2,525,093
2,569,283
2,614,245
2,659,994
2,706,544
2,753,909
2,802,102
2,851,139
2,901,034
2,951,802
3,003,458
3,056,019
3,109,499

57,444,089
58,449,361
59,472,225
60,512,988
61,571,966
59,485,560
57,362,641
55,202,572
53,004,702
50,768,368
48,492,899
46,177,609
43,821,802
41,424,768
38,985,786
36,504,122
33,979,028
31,409,746
28,795,501
26,135,506
23,428,962
20,675,053
17,872,951
15,021,812
12,120,779
9,168,977
6,165,518
3,109,499
0

SISTEMA DE AMORTIZACION GRADIENTE ARITMETICO

Vr. Prstamo
Plazo total
Gradiente
Tasa inters

224,000,000
180 MESES
5,000
1.02% MV

Valor de la primera cuota

Gradiente Aritmtico Vencido Creciente dado VP

Tasa Per.

Nper

VP

Gradiente

1.02%

180

224,000,000

5,000

Cuota N
0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29

1a CUOTA
2,412,328

Tabla de amortizacin gradiente aritmtico

Cuota
Inters
Capital
Saldo Capital
224,000,000
2,412,328
2,293,053
119,275
223,880,725
2,417,328
2,291,832
125,496
223,755,230
2,422,328
2,290,547
131,780
223,623,450
2,427,328
2,289,198
138,129
223,485,321
2,432,328
2,287,784
144,543
223,340,777
2,437,328
2,286,305
151,023
223,189,754
2,442,328
2,284,759
157,569
223,032,186
2,447,328
2,283,146
164,182
222,868,004
2,452,328
2,281,465
170,863
222,697,141
2,457,328
2,279,716
177,612
222,519,529
2,462,328
2,277,898
184,430
222,335,100
2,467,328
2,276,010
191,318
222,143,782
2,472,328
2,274,051
198,276
221,945,505
2,477,328
2,272,022
205,306
221,740,199
2,482,328
2,269,920
212,408
221,527,792
2,487,328
2,267,746
219,582
221,308,210
2,492,328
2,265,498
226,830
221,081,380
2,497,328
2,263,176
234,152
220,847,228
2,502,328
2,260,779
241,549
220,605,679
2,507,328
2,258,306
249,022
220,356,657
2,512,328
2,255,757
256,571
220,100,086
2,517,328
2,253,130
264,197
219,835,889
2,522,328
2,250,426
271,902
219,563,987
2,527,328
2,247,642
279,685
219,284,302
2,532,328
2,244,779
287,548
218,996,753
2,537,328
2,241,836
295,492
218,701,261
2,542,328
2,238,811
303,517
218,397,744
2,547,328
2,235,704
311,624
218,086,120
2,552,328
2,232,514
319,814
217,766,306

30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74

2,557,328
2,562,328
2,567,328
2,572,328
2,577,328
2,582,328
2,587,328
2,592,328
2,597,328
2,602,328
2,607,328
2,612,328
2,617,328
2,622,328
2,627,328
2,632,328
2,637,328
2,642,328
2,647,328
2,652,328
2,657,328
2,662,328
2,667,328
2,672,328
2,677,328
2,682,328
2,687,328
2,692,328
2,697,328
2,702,328
2,707,328
2,712,328
2,717,328
2,722,328
2,727,328
2,732,328
2,737,328
2,742,328
2,747,328
2,752,328
2,757,328
2,762,328
2,767,328
2,772,328
2,777,328

2,229,240
2,225,881
2,222,437
2,218,906
2,215,289
2,211,582
2,207,787
2,203,902
2,199,926
2,195,857
2,191,696
2,187,442
2,183,092
2,178,647
2,174,105
2,169,466
2,164,727
2,159,889
2,154,951
2,149,910
2,144,767
2,139,520
2,134,168
2,128,710
2,123,145
2,117,472
2,111,690
2,105,797
2,099,793
2,093,676
2,087,446
2,081,100
2,074,638
2,068,059
2,061,361
2,054,544
2,047,606
2,040,545
2,033,361
2,026,052
2,018,618
2,011,055
2,003,365
1,995,544
1,987,592

328,088
336,446
344,891
353,421
362,039
370,745
379,541
388,426
397,402
406,470
415,631
424,886
434,235
443,681
453,223
462,862
472,600
482,438
492,377
502,417
512,560
522,807
533,159
543,617
554,182
564,855
575,638
586,530
597,534
608,651
619,882
631,228
642,689
654,269
665,966
677,784
689,722
701,783
713,967
726,275
738,710
751,272
763,963
776,783
789,735

217,438,219
217,101,772
216,756,882
216,403,460
216,041,421
215,670,676
215,291,135
214,902,710
214,505,308
214,098,837
213,683,206
213,258,320
212,824,085
212,380,404
211,927,182
211,464,320
210,991,719
210,509,281
210,016,904
209,514,487
209,001,926
208,479,119
207,945,960
207,402,342
206,848,160
206,283,305
205,707,667
205,121,137
204,523,603
203,914,951
203,295,069
202,663,842
202,021,152
201,366,884
200,700,917
200,023,134
199,333,412
198,631,629
197,917,663
197,191,387
196,452,677
195,701,405
194,937,442
194,160,659
193,370,924

75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
101
102
103
104
105
106
107
108
109
110
111
112
113
114
115
116
117
118
119

2,782,328
2,787,328
2,792,328
2,797,328
2,802,328
2,807,328
2,812,328
2,817,328
2,822,328
2,827,328
2,832,328
2,837,328
2,842,328
2,847,328
2,852,328
2,857,328
2,862,328
2,867,328
2,872,328
2,877,328
2,882,328
2,887,328
2,892,328
2,897,328
2,902,328
2,907,328
2,912,328
2,917,328
2,922,328
2,927,328
2,932,328
2,937,328
2,942,328
2,947,328
2,952,328
2,957,328
2,962,328
2,967,328
2,972,328
2,977,328
2,982,328
2,987,328
2,992,328
2,997,328
3,002,328

1,979,508
1,971,290
1,962,936
1,954,446
1,945,817
1,937,049
1,928,140
1,919,089
1,909,894
1,900,554
1,891,066
1,881,431
1,871,645
1,861,709
1,851,619
1,841,375
1,830,975
1,820,417
1,809,700
1,798,822
1,787,781
1,776,577
1,765,206
1,753,668
1,741,961
1,730,082
1,718,031
1,705,805
1,693,403
1,680,822
1,668,062
1,655,120
1,641,994
1,628,683
1,615,184
1,601,496
1,587,617
1,573,544
1,559,276
1,544,811
1,530,146
1,515,281
1,500,212
1,484,937
1,469,455

802,820
816,038
829,392
842,882
856,510
870,278
884,187
898,239
912,434
926,774
941,261
955,897
970,682
985,619
1,000,709
1,015,953
1,031,353
1,046,911
1,062,628
1,078,506
1,094,546
1,110,751
1,127,121
1,143,660
1,160,367
1,177,246
1,194,297
1,211,523
1,228,925
1,246,505
1,264,265
1,282,208
1,300,333
1,318,645
1,337,143
1,355,832
1,374,711
1,393,784
1,413,052
1,432,517
1,452,181
1,472,047
1,492,116
1,512,391
1,532,873

192,568,104
191,752,066
190,922,674
190,079,792
189,223,282
188,353,004
187,468,816
186,570,578
185,658,144
184,731,370
183,790,109
182,834,212
181,863,529
180,877,910
179,877,202
178,861,249
177,829,896
176,782,986
175,720,358
174,641,852
173,547,306
172,436,555
171,309,434
170,165,774
169,005,407
167,828,161
166,633,864
165,422,342
164,193,417
162,946,911
161,682,646
160,400,438
159,100,105
157,781,460
156,444,317
155,088,486
153,713,775
152,319,991
150,906,939
149,474,422
148,022,241
146,550,194
145,058,078
143,545,687
142,012,815

120
121
122
123
124
125
126
127
128
129
130
131
132
133
134
135
136
137
138
139
140
141
142
143
144
145
146
147
148
149
150
151
152
153
154
155
156
157
158
159
160
161
162
163
164

3,007,328
3,012,328
3,017,328
3,022,328
3,027,328
3,032,328
3,037,328
3,042,328
3,047,328
3,052,328
3,057,328
3,062,328
3,067,328
3,072,328
3,077,328
3,082,328
3,087,328
3,092,328
3,097,328
3,102,328
3,107,328
3,112,328
3,117,328
3,122,328
3,127,328
3,132,328
3,137,328
3,142,328
3,147,328
3,152,328
3,157,328
3,162,328
3,167,328
3,172,328
3,177,328
3,182,328
3,187,328
3,192,328
3,197,328
3,202,328
3,207,328
3,212,328
3,217,328
3,222,328
3,227,328

1,453,763
1,437,859
1,421,742
1,405,408
1,388,856
1,372,083
1,355,088
1,337,867
1,320,418
1,302,740
1,284,830
1,266,685
1,248,304
1,229,682
1,210,820
1,191,712
1,172,359
1,152,755
1,132,900
1,112,791
1,092,424
1,071,798
1,050,909
1,029,756
1,008,334
986,642
964,677
942,436
919,916
897,115
874,028
850,655
826,990
803,033
778,779
754,225
729,369
704,207
678,737
652,954
626,857
600,441
573,703
546,641
519,251

1,553,565
1,574,468
1,595,586
1,616,920
1,638,472
1,660,244
1,682,240
1,704,461
1,726,909
1,749,587
1,772,498
1,795,642
1,819,024
1,842,645
1,866,508
1,890,615
1,914,969
1,939,572
1,964,427
1,989,537
2,014,904
2,040,530
2,066,418
2,092,572
2,118,993
2,145,685
2,172,650
2,199,891
2,227,411
2,255,213
2,283,299
2,311,673
2,340,337
2,369,295
2,398,549
2,428,103
2,457,959
2,488,120
2,518,591
2,549,373
2,580,471
2,611,887
2,643,624
2,675,687
2,708,077

140,459,250
138,884,782
137,289,196
135,672,277
134,033,805
132,373,560
130,691,320
128,986,859
127,259,950
125,510,363
123,737,865
121,942,223
120,123,199
118,280,554
116,414,046
114,523,430
112,608,461
110,668,889
108,704,461
106,714,924
104,700,021
102,659,491
100,593,073
98,500,501
96,381,507
94,235,822
92,063,172
89,863,280
87,635,869
85,380,656
83,097,357
80,785,684
78,445,347
76,076,052
73,677,503
71,249,401
68,791,442
66,303,322
63,784,731
61,235,358
58,654,887
56,043,000
53,399,376
50,723,689
48,015,612

165
166
167
168
169
170
171
172
173
174
175
176
177
178
179
180

3,232,328
3,237,328
3,242,328
3,247,328
3,252,328
3,257,328
3,262,328
3,267,328
3,272,328
3,277,328
3,282,328
3,287,328
3,292,328
3,297,328
3,302,328
3,307,328

491,528
463,471
435,076
406,338
377,256
347,824
318,040
287,899
257,400
226,536
195,306
163,704
131,728
99,374
66,637
33,514

2,740,799
2,773,856
2,807,252
2,840,989
2,875,072
2,909,504
2,944,288
2,979,428
3,014,928
3,050,791
3,087,022
3,123,623
3,160,599
3,197,954
3,235,691
3,273,814

45,274,813
42,500,956
39,693,704
36,852,715
33,977,643
31,068,139
28,123,851
25,144,423
22,129,495
19,078,703
15,991,682
12,868,058
9,707,459
6,509,505
3,273,814
0

METICO

CUOTA DOS Y SUBSIGUIENTES = Cuota mes anterior (+,-)

gradiente

SISTEMA DE AMORTIZACION GRADIENTE GEOMETRICO

Vr. Prstamo
Plazo
Trimestres

Gradiente
Tasa

Tasa Per.
3.02%

Cuota N
0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28

350,000,000
7 AOS
28 TRIMESTES

-3%
3.02% TV

Valor de la primera cuota

Gradiente Geomtico Vencido Creciente dado VP
Nper

VP

Gradiente

28

350,000,000

-3%

1a CUOTA
25,347,229

Tabla de amortizacin gradiente geomtrico

Cuota
Inters
Capital
Saldo Capital
350,000,000
25,347,229
10,573,827
14,773,402
335,226,598
24,637,507
10,127,509
14,509,998
320,716,600
23,947,657
9,689,149
14,258,508
306,458,092
23,277,122
9,258,386
14,018,737
292,439,355
22,625,363
8,834,867
13,790,496
278,648,859
21,991,853
8,418,243
13,573,610
265,075,249
21,376,081
8,008,171
13,367,910
251,707,339
20,777,551
7,604,314
13,173,236
238,534,103
20,195,779
7,206,338
12,989,441
225,544,662
19,630,297
6,813,915
12,816,382
212,728,280
19,080,649
6,426,720
12,653,929
200,074,351
18,546,391
6,044,433
12,501,958
187,572,394
18,027,092
5,666,738
12,360,354
175,212,039
17,522,333
5,293,320
12,229,014
162,983,026
17,031,708
4,923,870
12,107,838
150,875,187
16,554,820
4,558,081
11,996,740
138,878,448
16,091,285
4,195,648
11,895,637
126,982,810
15,640,729
3,836,270
11,804,460
115,178,350
15,202,789
3,479,646
11,723,143
103,455,207
14,777,111
3,125,479
11,651,632
91,803,575
14,363,352
2,773,472
11,589,880
80,213,695
13,961,178
2,423,331
11,537,847
68,675,848
13,570,265
2,074,762
11,495,503
57,180,345
13,190,297
1,727,472
11,462,826
45,717,519
12,820,969
1,381,169
11,439,800
34,277,719
12,461,982
1,035,562
11,426,420
22,851,299
12,113,046
690,359
11,422,687
11,428,612
11,773,881
345,269
11,428,612
0

TRICO

CUOTA DOS Y SUBSIGUIENTES = Cuota mes anterior x (1+G)

ior x (1+G)

INDICADORES DE CONVENIENCIA
Ao
0
1
2
3
4
5
6
7
8
9
10
11
12

Ingresos
2,350,000
2,350,000
2,350,000
2,350,000
3,300,000
3,300,000
3,300,000
4,350,000
4,350,000
3,850,000
1,000,000
10,000,000

Egresos
20,000,000
500,000
500,000
1,250,000
650,000
650,000
4,500,000
750,000
750,000
2,500,000
850,000
850,000

Tasa descuento
Tasa de financiacin
Tasa de Reinversin

Flujo Neto
VP Egresos
(20,000,000) (20,000,000)
1,850,000
1,850,000
1,100,000
1,700,000
2,650,000
(1,200,000)
(1,117,116)
2,550,000
3,600,000
1,850,000
3,000,000
150,000
10,000,000
TOTALES
21,117,116

VF Ingresos
2,440,417
2,379,734
1,379,792
2,079,382
3,160,789
2,892,135
3,981,486
1,995,165
3,154,951
153,825
10,000,000
33,617,675

3%
1.20%
2.55%
INDICADORES

SIGLA
VPN
TIR
TIRM
TIRM
CAUE
B/C

RESULTADO
3,025,506
4.94%
3.95%
3.95%
303,949
1.10

FORMULA
+VNA(D18;D3:$D$14)+$D$2
+TIR(D2:D14)
+TIRM(D2:D14;$D$19;$D$20)
+(F15/E15)^(1/A14)-1
+PAGO($D$18;A14;-D24)
+(VNA($D$25;B8:B19)+B7)/(VNA($D$25;C8:

NVENIENCIA
ANALISIS SENSIBILIDAD
TIO
3,025,506
2.0%
2.5%
3.0%
3.5%
4.0%
4.5%
5.0%
5.5%
6.0%
6.5%
7.0%

ORES

FORMULA
4)+$D$2

19;$D$20)
-1
D24)
9)+B7)/(VNA($D$25;C8:C18)+C7)

Sensibilidad del VPN ante vari

12
10
8

Valor VPN

6
4
2

0
2.0% 2.5% 3.0% 3.5% 4.0% 4.5% 5.0% 5.5% 6.0% 6.5% 7

TIO

dad del VPN ante variaciones en la TIO

3.5% 4.0% 4.5% 5.0% 5.5% 6.0% 6.5% 7.0%

TIO