PREGUNTA 3

BONO A
VN 500,000.00
Cupón 6.25%
Cupón (valor) 7,812.50

Periodos (años) 0 1 2 3 4
Cupón 7,812.50 7,812.50 7,812.50 7,812.50
VN 500,000.00
FC 7,812.50 7,812.50 7,812.50 507,812.50

TASA suma PVFC = P

0.000% 531,250.00
0.200% 527,114.29 Ecuación Precio bono A
0.400% 523,019.35 600,000.00
0.600% 518,964.68
500,000.00
0.800% 514,949.81
1.000% 510,974.28 400,000.00
1.200% 507,037.61
1.400% 503,139.36 300,000.00
1.600% 499,279.07
1.800% 495,456.29 200,000.00
2.000% 491,670.59
100,000.00
2.200% 487,921.54
2.400% 484,208.71 0.00
0.000% 10.000% 20.000% 30.000% 40.000% 50.000% 6
 200,000.00

100,000.00

0.00
2.600% 480,531.68 0.000% 10.000% 20.000% 30.000% 40.000% 50.000% 6
2.800% 476,890.03
3.000% 473,283.36
3.200% 469,711.25
3.400% 466,173.32
3.600% 462,669.17
3.800% 459,198.41
4.000% 455,760.65
4.200% 452,355.53
4.400% 448,982.67
4.600% 445,641.69
4.800% 442,332.25
5.000% 439,053.98
5.200% 435,806.52
5.400% 432,589.53
5.600% 429,402.67
5.800% 426,245.59
6.000% 423,117.97
6.200% 420,019.46
6.400% 416,949.75
6.600% 413,908.52
6.800% 410,895.44
7.000% 407,910.19
7.200% 404,952.48
7.400% 402,022.00
7.600% 399,118.44
7.800% 396,241.51
8.000% 393,390.92
8.200% 390,566.36
8.400% 387,767.57
8.600% 384,994.25
8.800% 382,246.12
9.000% 379,522.92
9.200% 376,824.36
9.400% 374,150.18
9.600% 371,500.12
9.800% 368,873.91
10.000% 366,271.30
10.200% 363,692.03
10.400% 361,135.84
10.600% 358,602.50
10.800% 356,091.74
11.000% 353,603.34
11.200% 351,137.05
11.400% 348,692.64
11.600% 346,269.87
11.800% 343,868.51
12.000% 341,488.33
12.200% 339,129.11
12.400% 336,790.63
12.600% 334,472.66
12.800% 332,175.00
13.000% 329,897.42
13.200% 327,639.72
13.400% 325,401.68
13.600% 323,183.10
13.800% 320,983.78
14.000% 318,803.52
14.200% 316,642.11
14.400% 314,499.36
14.600% 312,375.07
14.800% 310,269.06
15.000% 308,181.14
15.200% 306,111.12
15.400% 304,058.80
15.600% 302,024.02
15.800% 300,006.59
16.000% 298,006.34
16.200% 296,023.07
16.400% 294,056.64
16.600% 292,106.85
16.800% 290,173.54
17.000% 288,256.55
17.200% 286,355.70
17.400% 284,470.84
17.600% 282,601.80
17.800% 280,748.42
18.000% 278,910.55
18.200% 277,088.02
18.400% 275,280.68
18.600% 273,488.39
18.800% 271,710.99
19.000% 269,948.33
19.200% 268,200.26
19.400% 266,466.64
19.600% 264,747.32
19.800% 263,042.16
20.000% 261,351.03
20.200% 259,673.78
20.400% 258,010.28
20.600% 256,360.38
20.800% 254,723.96
21.000% 253,100.89
21.200% 251,491.02
21.400% 249,894.24
21.600% 248,310.41
21.800% 246,739.41
22.000% 245,181.11
22.200% 243,635.39
22.400% 242,102.13
22.600% 240,581.20
22.800% 239,072.49
23.000% 237,575.87
23.200% 236,091.24
23.400% 234,618.47
23.600% 233,157.45
23.800% 231,708.07
24.000% 230,270.21
24.200% 228,843.77
24.400% 227,428.64
24.600% 226,024.70
24.800% 224,631.86
25.000% 223,250.00
25.200% 221,879.02
25.400% 220,518.82
25.600% 219,169.30
25.800% 217,830.35
26.000% 216,501.88
26.200% 215,183.79
26.400% 213,875.97
26.600% 212,578.33
26.800% 211,290.78
27.000% 210,013.22
27.200% 208,745.56
27.400% 207,487.71
27.600% 206,239.57
27.800% 205,001.06
28.000% 203,772.08
28.200% 202,552.54
28.400% 201,342.36
28.600% 200,141.46
28.800% 198,949.74
29.000% 197,767.12
29.200% 196,593.52
29.400% 195,428.86
29.600% 194,273.04
29.800% 193,126.00
30.000% 191,987.65
30.200% 190,857.92
30.400% 189,736.71
30.600% 188,623.96
30.800% 187,519.59
31.000% 186,423.52
31.200% 185,335.68
31.400% 184,255.99
31.600% 183,184.38
31.800% 182,120.77
32.000% 181,065.10
32.200% 180,017.29
32.400% 178,977.28
32.600% 177,944.98
32.800% 176,920.34
33.000% 175,903.28
33.200% 174,893.74
33.400% 173,891.65
33.600% 172,896.94
33.800% 171,909.55
34.000% 170,929.41
34.200% 169,956.45
34.400% 168,990.63
34.600% 168,031.86
34.800% 167,080.10
35.000% 166,135.27
35.200% 165,197.32
35.400% 164,266.18
35.600% 163,341.80
35.800% 162,424.12
36.000% 161,513.08
36.200% 160,608.62
36.400% 159,710.68
36.600% 158,819.21
36.800% 157,934.14
37.000% 157,055.44
37.200% 156,183.03
37.400% 155,316.86
37.600% 154,456.89
37.800% 153,603.06
38.000% 152,755.31
38.200% 151,913.59
38.400% 151,077.85
38.600% 150,248.05
38.800% 149,424.12
39.000% 148,606.02
39.200% 147,793.69
39.400% 146,987.10
39.600% 146,186.19
39.800% 145,390.91
40.000% 144,601.21
40.200% 143,817.05
40.400% 143,038.38
40.600% 142,265.15
40.800% 141,497.32
41.000% 140,734.84
41.200% 139,977.67
41.400% 139,225.76
41.600% 138,479.07
41.800% 137,737.56
42.000% 137,001.17
42.200% 136,269.88
42.400% 135,543.62
42.600% 134,822.38
42.800% 134,106.09
43.000% 133,394.73
43.200% 132,688.24
43.400% 131,986.60
43.600% 131,289.75
43.800% 130,597.66
44.000% 129,910.30
44.200% 129,227.61
44.400% 128,549.57
44.600% 127,876.13
44.800% 127,207.26
45.000% 126,542.92
45.200% 125,883.08
45.400% 125,227.68
45.600% 124,576.71
45.800% 123,930.12
46.000% 123,287.88
46.200% 122,649.95
46.400% 122,016.30
46.600% 121,386.89
46.800% 120,761.69
47.000% 120,140.67
47.200% 119,523.78
47.400% 118,911.00
47.600% 118,302.30
47.800% 117,697.63
48.000% 117,096.98
48.200% 116,500.30
48.400% 115,907.57
48.600% 115,318.75
48.800% 114,733.82
49.000% 114,152.73
49.200% 113,575.47
49.400% 113,001.99
49.600% 112,432.28
49.800% 111,866.30
50.000% 111,304.01
50.200% 110,745.40
50.400% 110,190.43
50.600% 109,639.08
50.800% 109,091.31
51.000% 108,547.09
51.200% 108,006.41
51.400% 107,469.23
51.600% 106,935.52
51.800% 106,405.26
52.000% 105,878.42
52.200% 105,354.97
52.400% 104,834.89
52.600% 104,318.15
52.800% 103,804.72
53.000% 103,294.58
53.200% 102,787.71
53.400% 102,284.07
53.600% 101,783.65
53.800% 101,286.42
54.000% 100,792.34
54.200% 100,301.41
54.400% 99,813.60
54.600% 99,328.87
54.800% 98,847.21
55.000% 98,368.60
55.200% 97,893.01
 BONO A
VN 500,000.00
CUPÓN 6.25%
CUPÓN VALOR 7,812.50
PERIODO(AÑOS) 0.5
PERIODO (trimestral) 1
YTM 6.15%
PERIODO (trimestral) 0 1
CUPÓN 7,812.50
VN
FC 7,812.50
o bono A PVFC 7,579.43
PRECIO MERCADO 421,143.26

CALCULO DEL YTM

PERIODO (SEMESTRES) 0 1
CUPÓN 7,812.50
VN
FC 7,812.50
PVFC 7,527.69
PRECIO MERCADO 421,143.26
.000% 40.000% 50.000% 60.000%
.000% 40.000% 50.000% 60.000% PRECIO ESTIMADO 424,561.45
j 3.78%
YTM 7.57%
 1 1.5 2 2.5 3 3.5 4
2 3 4 5 6 7 8
6.22% 6.35% 6.48% 6.77% 6.89% 7.52% 7.85%
2 3 4 5 6 7 8
7,812.50 7,812.50 7,812.50 7,812.50 7,812.50 7,812.50 7,812.50
500,000.00
7,812.50 7,812.50 7,812.50 7,812.50 7,812.50 7,812.50 507,812.50
7,348.33 7,113.23 6,876.98 6,614.58 6,375.78 6,033.65 373,201.28

2 3 4 5 6 7 8
7,812.50 7,812.50 7,812.50 7,812.50 7,812.50 7,812.50 7,812.50
500,000.00
7,812.50 7,812.50 7,812.50 7,812.50 7,812.50 7,812.50 507,812.50
7,253.27 6,988.85 6,734.07 6,488.58 6,252.04 6,024.12 377,292.84