K0 Tx intérêt K06 K16 K26

500000 0.04 132,659.51 € 632,659.51 € 1,216,652.90 € 1,520,816.13 €

1000000 216,652.90 €
1300000 220,816.13 €

int total Somme6 Val Acquise

570,128.54 € 3,370,128.54 € 3,940,257.08 €

tx eff
0.0748203 periode 0 1 2
500000 1000000 1300000
K06 K16 K26
770,877.34 € 1,434,430.12 € 1,734,949.62 €
 6
3,940,257.08 €
K6-(K0+K16+K26)
-0.00 €
V0
1000
Periode 0 3 6 10
i1 i2 i3
0.05 0.06 0.04
V3 V6 V10
1,157.63 € 1,378.75 € 1,612.94 €

Tx moyen V0.10
0.04896714 1,612.94 €
V10-V0.10
TX -0.00 €
5%
K0 a b c
100000000 10000000 12000000 23273349.8550522
Periode 0 3 5 10
I1 I2 I3
0.08 0.09 0.11
A0 B3 C5
25,770,969.87 € 21,109,334.23 € 86,015,904.32 €

B0 C3
16,757,270.10 € 72,397,865.77 €
C0 57,471,760.03 €
K0-A0-B0-C0
0.00 €
V0 a I n
6400 953.788728 0.08 10

A0
6,400.00 €
V0-A0
0.00 €

n1 A3 V3 DV3 DV3
3 3,096.38 € 8,062.16 € 4,965.78 € 4,965.78 €

periode Am I a Dett Viv

0 6400
1 441.79 € 512.00 € 953.79 € 5,958.21 €
2 477.13 € 476.66 € 953.79 € 5,481.08 €
3 515.30 € 438.49 € 953.79 € 4,965.78 €
4 556.53 € 397.26 € 953.79 € 4,409.25 €
5 601.05 € 352.74 € 953.79 € 3,808.20 €
6 649.13 € 304.66 € 953.79 € 3,159.07 €
7 701.06 € 252.73 € 953.79 € 2,458.01 €
8 757.15 € 196.64 € 953.79 € 1,700.86 €
9 817.72 € 136.07 € 953.79 € 883.14 €
10 883.14 € 70.65 € 953.79 € 0.00 €
K0 a n S36 Tx mens Tx an
30110 455.56 36 17162 0.40% 4.91%
A0 S0 K0-A0-S0
15,245.60 € 14,864.40 € 0.00 €
K0 tx an tx mens n Diff
185000000 12% 0.00948879293 60 6

Ats différé partiel

Periodes Am I a Dett viv
0 185000000
1 1755426.6929 1755426.692898 185000000
2 1755426.6929 1755426.692898 185000000
3 1755426.6929 1755426.692898 185000000
4 1755426.6929 1755426.692898 185000000
5 1755426.6929 1755426.692898 185000000
6 1755426.6929 1755426.692898 185000000
7 2,638,722.14 € 1,755,426.69 € 4,394,148.83 € 182,361,277.86 €
8 2,663,760.42 € 1,730,388.40 € 4,394,148.83 € 179,697,517.44 €
9 2,689,036.29 € 1,705,112.53 € 4,394,148.83 € 177,008,481.15 €
10 2,714,552.00 € 1,679,596.83 € 4,394,148.83 € 174,293,929.14 €
11 2,740,309.82 € 1,653,839.00 € 4,394,148.83 € 171,553,619.32 €
12 2,766,312.06 € 1,627,836.77 € 4,394,148.83 € 168,787,307.26 €
13 2,792,561.02 € 1,601,587.81 € 4,394,148.83 € 165,994,746.24 €
14 2,819,059.05 € 1,575,089.78 € 4,394,148.83 € 163,175,687.19 €
15 2,845,808.52 € 1,548,340.31 € 4,394,148.83 € 160,329,878.67 €
16 2,872,811.81 € 1,521,337.02 € 4,394,148.83 € 157,457,066.86 €
17 2,900,071.32 € 1,494,077.50 € 4,394,148.83 € 154,556,995.54 €
18 2,927,589.50 € 1,466,559.33 € 4,394,148.83 € 151,629,406.04 €
19 2,955,368.79 € 1,438,780.04 € 4,394,148.83 € 148,674,037.25 €
20 2,983,411.67 € 1,410,737.15 € 4,394,148.83 € 145,690,625.57 €
21 3,011,720.65 € 1,382,428.18 € 4,394,148.83 € 142,678,904.92 €
22 3,040,298.24 € 1,353,850.58 € 4,394,148.83 € 139,638,606.68 €
23 3,069,147.00 € 1,325,001.82 € 4,394,148.83 € 136,569,459.68 €
24 3,098,269.50 € 1,295,879.32 € 4,394,148.83 € 133,471,190.17 €
25 3,127,668.34 € 1,266,480.49 € 4,394,148.83 € 130,343,521.83 €
26 3,157,346.14 € 1,236,802.69 € 4,394,148.83 € 127,186,175.69 €
27 3,187,305.54 € 1,206,843.29 € 4,394,148.83 € 123,998,870.15 €
28 3,217,549.23 € 1,176,599.60 € 4,394,148.83 € 120,781,320.92 €
29 3,248,079.88 € 1,146,068.94 € 4,394,148.83 € 117,533,241.04 €
30 3,278,900.24 € 1,115,248.59 € 4,394,148.83 € 114,254,340.80 €
31 3,310,013.05 € 1,084,135.78 € 4,394,148.83 € 110,944,327.75 €
32 3,341,421.07 € 1,052,727.75 € 4,394,148.83 € 107,602,906.68 €
33 3,373,127.13 € 1,021,021.70 € 4,394,148.83 € 104,229,779.55 €
34 3,405,134.03 € 989,014.80 € 4,394,148.83 € 100,824,645.52 €
35 3,437,444.64 € 956,704.18 € 4,394,148.83 € 97,387,200.88 €
36 3,470,061.84 € 924,086.98 € 4,394,148.83 € 93,917,139.03 €
37 3,502,988.54 € 891,160.29 € 4,394,148.83 € 90,414,150.49 €
38 3,536,227.68 € 857,921.15 € 4,394,148.83 € 86,877,922.81 €
39 3,569,782.21 € 824,366.62 € 4,394,148.83 € 83,308,140.60 €
 40 3,603,655.13 € 790,493.70 € 4,394,148.83 € 79,704,485.47 €
41 3,637,849.47 € 756,299.36 € 4,394,148.83 € 76,066,636.00 €
42 3,672,368.27 € 721,780.56 € 4,394,148.83 € 72,394,267.73 €
43 3,707,214.61 € 686,934.22 € 4,394,148.83 € 68,687,053.12 €
44 3,742,391.60 € 651,757.22 € 4,394,148.83 € 64,944,661.52 €
45 3,777,902.38 € 616,246.45 € 4,394,148.83 € 61,166,759.14 €
46 3,813,750.12 € 580,398.71 € 4,394,148.83 € 57,353,009.02 €
47 3,849,938.00 € 544,210.83 € 4,394,148.83 € 53,503,071.02 €
48 3,886,469.27 € 507,679.56 € 4,394,148.83 € 49,616,601.75 €
49 3,923,347.17 € 470,801.66 € 4,394,148.83 € 45,693,254.58 €
50 3,960,575.00 € 433,573.83 € 4,394,148.83 € 41,732,679.59 €
51 3,998,156.07 € 395,992.76 € 4,394,148.83 € 37,734,523.51 €
52 4,036,093.75 € 358,055.08 € 4,394,148.83 € 33,698,429.77 €
53 4,074,391.41 € 319,757.42 € 4,394,148.83 € 29,624,038.36 €
54 4,113,052.46 € 281,096.37 € 4,394,148.83 € 25,510,985.90 €
55 4,152,080.37 € 242,068.46 € 4,394,148.83 € 21,358,905.53 €
56 4,191,478.60 € 202,670.23 € 4,394,148.83 € 17,167,426.94 €
57 4,231,250.67 € 162,898.16 € 4,394,148.83 € 12,936,176.27 €
58 4,271,400.13 € 122,748.70 € 4,394,148.83 € 8,664,776.14 €
59 4,311,930.56 € 82,218.27 € 4,394,148.83 € 4,352,845.58 €
60 4,352,845.58 € 41,303.25 € 4,394,148.83 € 0.00 €

K0 S0 txan tx mens n différé

185000000 18500000 4% 0.0032737398 60 6

90%K0 S60 tx eff mens tx eff an A6 A0

166500000 22,508,078.69 € 0.01066819341 0.1358034397 190,136,207.28 € 178,407,553.10 €
 Ats différé total
périodes Am I a
0
1
2
3
4
5
6
7 2,792,561.02 € 1,857,768.99 € 4,650,330.01 €
8 2,819,059.05 € 1,831,270.96 € 4,650,330.01 €
9 2,845,808.52 € 1,804,521.49 € 4,650,330.01 €
10 2,872,811.81 € 1,777,518.20 € 4,650,330.01 €
11 2,900,071.32 € 1,750,258.68 € 4,650,330.01 €
12 2,927,589.50 € 1,722,740.51 € 4,650,330.01 €
13 2,955,368.79 € 1,694,961.22 € 4,650,330.01 €
14 2,983,411.67 € 1,666,918.34 € 4,650,330.01 €
15 3,011,720.65 € 1,638,609.36 € 4,650,330.01 €
16 3,040,298.24 € 1,610,031.77 € 4,650,330.01 €
17 3,069,147.00 € 1,581,183.01 € 4,650,330.01 €
18 3,098,269.50 € 1,552,060.51 € 4,650,330.01 €
19 3,127,668.34 € 1,522,661.67 € 4,650,330.01 €
20 3,157,346.14 € 1,492,983.87 € 4,650,330.01 €
21 3,187,305.54 € 1,463,024.47 € 4,650,330.01 €
22 3,217,549.23 € 1,432,780.78 € 4,650,330.01 €
23 3,248,079.88 € 1,402,250.13 € 4,650,330.01 €
24 3,278,900.24 € 1,371,429.77 € 4,650,330.01 €
25 3,310,013.05 € 1,340,316.96 € 4,650,330.01 €
26 3,341,421.07 € 1,308,908.93 € 4,650,330.01 €
27 3,373,127.13 € 1,277,202.88 € 4,650,330.01 €
28 3,405,134.03 € 1,245,195.98 € 4,650,330.01 €
29 3,437,444.64 € 1,212,885.37 € 4,650,330.01 €
30 3,470,061.84 € 1,180,268.16 € 4,650,330.01 €
31 3,502,988.54 € 1,147,341.47 € 4,650,330.01 €
32 3,536,227.68 € 1,114,102.33 € 4,650,330.01 €
33 3,569,782.21 € 1,080,547.80 € 4,650,330.01 €
34 3,603,655.13 € 1,046,674.88 € 4,650,330.01 €
35 3,637,849.47 € 1,012,480.54 € 4,650,330.01 €
36 3,672,368.27 € 977,961.74 € 4,650,330.01 €
37 3,707,214.61 € 943,115.40 € 4,650,330.01 €
38 3,742,391.60 € 907,938.41 € 4,650,330.01 €
39 3,777,902.38 € 872,427.63 € 4,650,330.01 €
 40 3,813,750.12 € 836,579.89 € 4,650,330.01 €
41 3,849,938.00 € 800,392.01 € 4,650,330.01 €
42 3,886,469.27 € 763,860.74 € 4,650,330.01 €
43 3,923,347.17 € 726,982.84 € 4,650,330.01 €
44 3,960,575.00 € 689,755.01 € 4,650,330.01 €
45 3,998,156.07 € 652,173.94 € 4,650,330.01 €
46 4,036,093.75 € 614,236.26 € 4,650,330.01 €
47 4,074,391.41 € 575,938.60 € 4,650,330.01 €
48 4,113,052.46 € 537,277.55 € 4,650,330.01 €
49 4,152,080.37 € 498,249.64 € 4,650,330.01 €
50 4,191,478.60 € 458,851.41 € 4,650,330.01 €
51 4,231,250.67 € 419,079.34 € 4,650,330.01 €
52 4,271,400.13 € 378,929.88 € 4,650,330.01 €
53 4,311,930.56 € 338,399.45 € 4,650,330.01 €
54 4,352,845.58 € 297,484.43 € 4,650,330.01 €
55 4,394,148.83 € 256,181.18 € 4,650,330.01 €
56 4,435,844.00 € 214,486.01 € 4,650,330.01 €
57 4,477,934.80 € 172,395.21 € 4,650,330.01 €
58 4,520,425.00 € 129,905.01 € 4,650,330.01 €
59 4,563,318.37 € 87,011.63 € 4,650,330.01 €
60 4,606,618.76 € 43,711.25 € 4,650,330.01 €

S0 90%KO+S0-A0
11,907,553.10 € 0.00 €
Dett viv

195,785,597.02 €
192,993,036.00 €
190,173,976.95 €
187,328,168.43 €
184,455,356.62 €
181,555,285.29 €
178,627,695.79 €
175,672,327.00 €
172,688,915.33 €
169,677,194.68 €
166,636,896.44 €
163,567,749.43 €
160,469,479.93 €
157,341,811.59 €
154,184,465.45 €
150,997,159.90 €
147,779,610.68 €
144,531,530.80 €
141,252,630.56 €
137,942,617.51 €
134,601,196.43 €
131,228,069.31 €
127,822,935.27 €
124,385,490.63 €
120,915,428.79 €
117,412,440.24 €
113,876,212.57 €
110,306,430.36 €
106,702,775.23 €
103,064,925.76 €
99,392,557.49 €
95,685,342.88 €
91,942,951.27 €
88,165,048.89 €
84,351,298.77 €
80,501,360.77 €
76,614,891.51 €
72,691,544.34 €
68,730,969.34 €
64,732,813.27 €
60,696,719.52 €
56,622,328.12 €
52,509,275.65 €
48,357,195.29 €
44,165,716.69 €
39,934,466.02 €
35,663,065.89 €
31,351,135.33 €
26,998,289.76 €
22,604,140.93 €
18,168,296.93 €
13,690,362.13 €
9,169,937.13 €
4,606,618.76 €
0.00 €
 tx
Projet A Projet B 0.1631298
0 -188000 -188000
1 80000 0
2 80000 40000
3 80000 80000
4 80000 260000
Cash- flow ### 222,463.08 € VAN B -VAN A
VAN 34,463.08 € 34,463.08 € 0.00 €
TRI 25% 22%

tx CF A CF B VAN A VAN B VANB-VANA

0.1 ### 270,746.53 € 65,589.24 € 82,746.53 € 17,157.30 €
0.105 ### 266,443.39 € 62,868.67 € 78,443.39 € 15,574.73 €
0.11 ### 262,230.26 € 60,195.66 € 74,230.26 € 14,034.61 €
0.115 ### 258,104.83 € 57,569.10 € 70,104.83 € 12,535.73 €
0.12 ### 254,064.88 € 54,987.95 € 66,064.88 € 11,076.93 €
0.125 ### 250,108.22 € 52,451.15 € 62,108.22 € 9,657.06 €
0.13 ### 246,232.75 € 49,957.71 € 58,232.75 € 8,275.04 €
0.135 ### 242,436.44 € 47,506.63 € 54,436.44 € 6,929.80 €
0.14 ### 238,717.29 € 45,096.98 € 50,717.29 € 5,620.31
90000€
0.145 ### 235,073.40 € 42,727.83 € 47,073.40 € 4,345.57
80000€
0.15 ### 231,502.89 € 40,398.27 € 43,502.89 € 3,104.62 €
70000
0.155 ### 228,003.95 € 38,107.43 € 40,003.95 € 1,896.52 €
0.16 ### 224,574.82 € 35,854.45 € 36,574.82 € 60000€
720.36
0.165 ### 221,213.79 € 33,638.51 € 33,213.79 € -424.73
50000€
0.17 ### 217,919.20 € 31,458.80 € 29,919.20 € -1,539.60 €
40000
0.175 ### 214,689.44 € 29,314.53 € 26,689.44 € -2,625.09 €
0.18 ### 211,522.95 € 30000€
27,204.94 € 23,522.95 € -3,681.99
0.185 ### 208,418.21 € 25,129.29 € 20,418.21 € -4,711.08
20000€
0.19 ### 205,373.73 € 23,086.84 € 17,373.73 € -5,713.11 €
10000
0.195 ### 202,388.09 € 21,076.90 € 14,388.09 € -6,688.81 €
0.2 ### 199,459.88 € 19,098.77 € 11,459.88 € -7,638.89 0€
1 2 3 4 5 6 7 8 9
0.205 ### 196,587.74 € 17,151.78 € 8,587.74 € -8,564.03
-10000€
0.21 ### 193,770.37 € 15,235.28 € 5,770.37 € -9,464.91 €
0.215 ### 191,006.48 € 13,348.64 € 3,006.48 € -10,342.17 €
0.22 ### 188,294.81 € 11,491.24 € 294.81 € -11,196.43 €
0.225 ### 185,634.16 € 9,662.47 € -2,365.84 € -12,028.31 €
 tx
VAN A
VAN B

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
 tx
VAN A
VAN B

6
 projet 1 projet 2
tx n a tx n a
0.04 5 50000 0.04 8 35000
VA5 VA8 VA8
### ### ###

I0 200000

Taux 5.40%
P18.0 ###
I0-P18.0
-0.00 €
Taux 6.15%
P28.0 ###
I0-P28.0
-0.00 €
 P1 P2 P3 P4 tx
0 100000 200000 300000 150000 7.00% 1
1 34000 65000 86000 49000
2 34000 65000 86000 49000
3 34000 65000 86000 49000
4 34000 65000 86000 49000
5 34000 65000 86000 49000
6 34000 65000 86000 49000
7 34000 65000 86000 49000
CFA ### ### ### ###
VAN 83,235.84 € ### ### ###
IP 1.83 1.75 1.54 1.76
N Q n tx nominal R E Coupon
10000 6000 8 0.093 6250 5900 558

Période Am V Am Q Am arr I a DV V
0 62500000
1 5,681,948.66 € 909 5681250 5580000 11261250 56818750
2 6,189,233.04 € 990 6187500 5072778 11260278 50631250
3 6,741,807.76 € 1079 6743750 4520358 11264108 43887500
4 7,343,716.36 € 1175 7343750 3918276 11262026 36543750
5 7,999,363.36 € 1280 8000000 3262626 11262626 28543750
6 8,713,546.52 € 1394 8712500 2548386 11260886 19831250
7 9,491,491.95 € 1519 9493750 1770534 11264284 10337500
8 10,338,892.35 € 1654 10337500 922932 11260432 0

Periode TRABE
0 59000000 10.50% -59000000
1 11261250 11261250
2 11260278 11260278
3 11264108 11264108
4 11262026 11262026
5 11262626 11262626
6 11260886 11260886
7 11264284 11264284
8 11260432 11260432
A0 59,000,000.00 € trabe 10.5
A0-K0 0.00 €

E R C R+C
5900 6250 558 6808

Periode 0 1
P1 -5900 6808
P2 -5900 558
P3 -5900 558
P4 -5900 558
P5 -5900 558
P6 -5900 558
P7 -5900 558
P8 -5900 558
portefeuille
1 0 Periode 0 1
2 10 0 0
3 10 -59000 5580
4 20 -59000 5580
5 15 -118000 11160
6 15 -88500 8370
7 30 -88500 8370
8 40 -177000 16740
-236000 22320
-826000 78120

0 -57500000
1 11261250
2 11260278
3 11264108
4 11262026
5 11262626
6 11260886
7 11264284
8 11260432
tx revient 11.22%
tx réél a
0.08928 11,261,948.66 €

DV Q
10000
9091
8101
7022
5847
4567
3173
1654
0

2 3 4 5 6 7 8 Tx rend
15.390%
6808 12.253%
558 6808 11.229%
558 558 6808 10.722%
558 558 558 6808 10.421%
558 558 558 558 6808 10.222%
558 558 558 558 558 6808 10.081%
558 558 558 558 558 558 6808 9.977%

2 3 4 5 6 7 8
0 0 0 0 0 0 0
68080 0 0 0 0 0 0
 5580 68080 0 0 0 0 0
11160 11160 136160 0 0 0 0
8370 8370 8370 102120 0 0 0
8370 8370 8370 8370 102120 0 0
16740 16740 16740 16740 16740 204240 0
22320 22320 22320 22320 22320 22320 272320 tx rend
140620 135040 191960 149550 141180 226560 272320 10.27%