CASO 1

EMPRESA ADQUIERE UN PRESTAMO POR 100000

MODALIDAD DE PAGO: CUOTAS CONSTANTES
PERIODO DE PAGO 5 AÑOS
PERIODO DE PAGO ( MESES) 60
TEA 12%
PERIODO DE GRACIA PARCIAL 2 DOS MES
SE LE PIDE
A. ELABORE EL CUADRO DEL SERVICIO DE DEUDA MENSUAL
B. EL CUADRO DE SERVICIO DE DEUDA ANUAL
A
TEM 0.95%
FRC 0.0224984244825269
CUOTA 2249.84
CUOTA -S/ 2,249.84

SERVICIO DE DEUDA MENSUAL

PERIODO DE PAGO SALDO DE DEUDA AMORTIZACIÓN INTERÉS CUOTA
1 100000 0.00 948.88 948.88
2 100000 0.00 948.88 948.88
3 100000 1300.96 948.88 2249.84
4 98699.04 1313.31 936.53 2249.84
5 97385.73 1325.77 924.07 2249.84
6 96059.96 1338.35 911.49 2249.84
7 94721.61 1351.05 898.79 2249.84
8 93370.56 1363.87 885.97 2249.84
9 92006.69 1376.81 873.03 2249.84
10 90629.88 1389.87 859.97 2249.84
11 89240.01 1403.06 846.78 2249.84
12 87836.95 1416.38 833.47 2249.84
13 86420.57 1429.82 820.03 2249.84
14 84990.75 1443.38 806.46 2249.84
15 83547.37 1457.08 792.76 2249.84
16 82090.29 1470.90 778.94 2249.84
17 80619.39 1484.86 764.98 2249.84
18 79134.53 1498.95 750.89 2249.84
19 77635.58 1513.17 736.67 2249.84
20 76122.40 1527.53 722.31 2249.84
21 74594.87 1542.03 707.82 2249.84
22 73052.84 1556.66 693.18 2249.84
23 71496.18 1571.43 678.41 2249.84
24 69924.75 1586.34 663.50 2249.84
25 68338.41 1601.39 648.45 2249.84
26 66737.02 1616.59 633.25 2249.84
27 65120.43 1631.93 617.91 2249.84
28 63488.50 1647.41 602.43 2249.84
29 61841.09 1663.05 586.80 2249.84
30 60178.04 1678.83 571.02 2249.84
31 58499.22 1694.76 555.09 2249.84
32 56804.46 1710.84 539.01 2249.84
33 55093.62 1727.07 522.77 2249.84
34 53366.55 1743.46 506.38 2249.84
35 51623.10 1760.00 489.84 2249.84
36 49863.09 1776.70 473.14 2249.84
37 48086.39 1793.56 456.28 2249.84
38 46292.83 1810.58 439.26 2249.84
39 44482.25 1827.76 422.08 2249.84
40 42654.49 1845.10 404.74 2249.84
41 40809.39 1862.61 387.23 2249.84
42 38946.78 1880.28 369.56 2249.84
43 37066.50 1898.13 351.72 2249.84
44 35168.37 1916.14 333.71 2249.84
45 33252.23 1934.32 315.52 2249.84
 46 31317.91 1952.67 297.17 2249.84
47 29365.24 1971.20 278.64 2249.84
48 27394.04 1989.91 259.94 2249.84
49 25404.13 2008.79 241.05 2249.84
50 23395.34 2027.85 221.99 2249.84
51 21367.50 2047.09 202.75 2249.84
52 19320.40 2066.52 183.33 2249.84
53 17253.89 2086.12 163.72 2249.84
54 15167.77 2105.92 143.92 2249.84
55 13061.85 2125.90 123.94 2249.84
56 10935.95 2146.07 103.77 2249.84
57 8789.87 2166.44 83.41 2249.84
58 6623.43 2186.99 62.85 2249.84
59 4436.44 2207.75 42.10 2249.84
60 2228.69 2228.69 21.15 2249.84
100000.00 32388.62 132388.62
B.

ESTIMACIÓN CON LA TEM

PERIODO DE PAGO SALDO AMORTIZACIÓN INTERÉS CUOTA
1 100000 13579.43 10816.75 24396.18
2 86420.57 18082.16 8915.95 26998.11
3 68338.41 20252.02 6746.09 26998.11
4 48086.39 22682.26 4315.85 26998.11
5 25404.13 25404.13 1593.98 26998.11
100000.00 32388.62 132388.62
CASO 1
EMPRESA ADQUIERE UN PRESTAMO POR 100000
MODALIDAD DE PAGO: CUOTAS CONSTANTES
PERIODO DE PAGO 5 AÑOS
PERIODO DE PAGO ( MESES) 60
TEA 12%
PERIODO DE GRACIA TOTAL 2 DOS MES
SE LE PIDE
A. ELABORE EL CUADRO DEL SERVICIO DE DEUDA MENSUAL
B. EL CUADRO DE SERVICIO DE DEUDA ANUAL
A
TEM 0.95%
FRC 0.0224984244825269
CUOTA 2292.74
CUOTA -S/ 2,292.74

SERVICIO DE DEUDA MENSUAL

PERIODO DE PAGO SALDO DE DEUDA AMORTIZACIÓN INTERÉS CUOTA
1 100000 0.00 0.00 0.00
2 100000 0.00 0.00 0.00
3 101907 1325.77 966.97 2292.74
4 100581 1338.35 954.39 2292.74
5 99242.64 1351.05 941.69 2292.74
6 97891.59 1363.87 928.87 2292.74
7 96527.73 1376.81 915.93 2292.74
8 95150.92 1389.87 902.87 2292.74
9 93761.04 1403.06 889.68 2292.74
10 92357.98 1416.38 876.37 2292.74
11 90941.60 1429.82 862.93 2292.74
12 89511.79 1443.38 849.36 2292.74
13 88068.41 1457.08 835.66 2292.74
14 86611.33 1470.90 821.84 2292.74
15 85140.42 1484.86 807.88 2292.74
16 83655.56 1498.95 793.79 2292.74
17 82156.61 1513.17 779.57 2292.74
18 80643.43 1527.53 765.21 2292.74
19 79115.90 1542.03 750.71 2292.74
20 77573.87 1556.66 736.08 2292.74
21 76017.22 1571.43 721.31 2292.74
22 74445.79 1586.34 706.40 2292.74
23 72859.44 1601.39 691.35 2292.74
24 71258.05 1616.59 676.15 2292.74
25 69641.46 1631.93 660.81 2292.74
26 68009.53 1647.41 645.33 2292.74
27 66362.12 1663.05 629.70 2292.74
28 64699.08 1678.83 613.92 2292.74
29 63020.25 1694.76 597.99 2292.74
30 61325.49 1710.84 581.90 2292.74
31 59614.66 1727.07 565.67 2292.74
32 57887.59 1743.46 549.28 2292.74
33 56144.13 1760.00 532.74 2292.74
34 54384.13 1776.70 516.04 2292.74
35 52607.43 1793.56 499.18 2292.74
36 50813.87 1810.58 482.16 2292.74
37 49003.29 1827.76 464.98 2292.74
38 47175.53 1845.10 447.64 2292.74
39 45330.42 1862.61 430.13 2292.74
40 43467.81 1880.28 412.46 2292.74
41 41587.53 1898.13 394.62 2292.74
42 39689.40 1916.14 376.60 2292.74
43 37773.27 1934.32 358.42 2292.74
44 35838.95 1952.67 340.07 2292.74
45 33886.27 1971.20 321.54 2292.74
 46 31915.07 1989.91 302.84 2292.74
47 29925.17 2008.79 283.95 2292.74
48 27916.38 2027.85 264.89 2292.74
49 25888.53 2047.09 245.65 2292.74
50 23841.44 2066.52 226.23 2292.74
51 21774.92 2086.12 206.62 2292.74
52 19688.80 2105.92 186.82 2292.74
53 17582.88 2125.90 166.84 2292.74
54 15456.98 2146.07 146.67 2292.74
55 13310.91 2166.44 126.30 2292.74
56 11144.47 2186.99 105.75 2292.74
57 8957.47 2207.75 85.00 2292.74
58 6749.73 2228.69 64.05 2292.74
59 4521.03 2249.84 42.90 2292.74
60 2271.19 2271.19 21.55 2292.74
101906.76 31072.25 132979.01
B. 100000 32979.01 132979.01

ESTIMACIÓN CON LA TEM

PERIODO DE PAGO SALDO AMORTIZACIÓN INTERÉS CUOTA
1 100000 13838.36 9089.06 22927.42
2 86161.64 18426.94 9085.96 27512.90
3 67734.70 20638.18 6874.72 27512.90
4 47096.52 23114.76 4398.14 27512.90
5 23981.77 25888.53 1624.37 27512.90
101906.76 31072.25 132979.01
BALANCE

1. ACTIVO CORRIENTE 1. PASIVO CORRIENTE

CAJA Y BANCOS CUENTAS POR PAGAR
VALORES NEGOCIABLES REMUNERACIONES
CUENTAS POR COBRAR IMPUESTOS
INVENTARIOS OBLIGACIONES FINANCIERAS
2. ACTIVO NO CORRIENTE 2. PASIVO NO CORRIENTE
EDIFICACIONES PRÉSTAMOS BANCARIOS
TERRENOS EMISIÓN DE BONOS
MAQUINARIA PATRIMONIO
EQUIPOS
MUESBLES Y ENESERES
VEHICULOS
ACTIVOS INTANGIBLES
TOTAL ACTIVOS TOTAL PASIVO Y PATRIMONIO
CASO 1
OPERACIÓN LEASING
MODALIDAD DE PAGO: CUOTAS CONSTANTES
PERIODO DE PAGO 5 AÑOS
PERIODO DE PAGO ( MESES) 60
TEA 10%
SEGURO MENSUAL 0.031%
PORTES MENSUAL 8
EL PRECIO DE VENTA DEL ACTIVO 129800
VALOR DE VENTA 110000
IGV 19800
CUOTA INICIAL 22.95%
TASA DE DEPRECIACIÓN 20.00%
TASA DE IMPUESTO A LA RENTA 0.3
GASTOS NOTARIALES 980
COMISIÓN DE REESTRUCTURACIÓN 1.0%
TASA DE DESCUENTO 15%
SE LE PIDE
A. ELABORE EL CUADRO DEL SERVICIO DE DEUDA MENSUAL
B. EL CUADRO DE SERVICIO DE DEUDA ANUAL
A ^
TEM 0.80%
FRC 0.021035581566483

CUOTA INICIAL SIN IGV S/ 25,245.00

COMISION DE REESTRUCTURACIÓN 1298
GASTOS NOTARIALES 980

FINANCIAMIENTO PARA EFECTOS DEL CÁLCULO DE LA CUOTA SIN IGV

VVA-CI S/ 84,755.00
CUOTA SIN IGV S/ 1,782.87
 SALDO A PAGAR SIN IGV
CuotaNº Cuotasin Amortización(AA)
IGV(VCM)
0 S/ 25,245.00
1 S/ 1,782.87 S/ 1,107.02
2 S/ 1,782.87 S/ 1,115.85
3 S/ 1,782.87 S/ 1,124.75
4 S/ 1,782.87 S/ 1,133.72
5 S/ 1,782.87 S/ 1,142.76
6 S/ 1,782.87 S/ 1,151.87
7 S/ 1,782.87 S/ 1,161.05
8 S/ 1,782.87 S/ 1,170.31
9 S/ 1,782.87 S/ 1,179.65
10 S/ 1,782.87 S/ 1,189.05
11 S/ 1,782.87 S/ 1,198.53
12 S/ 1,782.87 S/ 1,208.09
13 S/ 1,782.87 S/ 1,217.72
14 S/ 1,782.87 S/ 1,227.43
15 S/ 1,782.87 S/ 1,237.22
16 S/ 1,782.87 S/ 1,247.09
17 S/ 1,782.87 S/ 1,257.03
18 S/ 1,782.87 S/ 1,267.06
19 S/ 1,782.87 S/ 1,277.16
20 S/ 1,782.87 S/ 1,287.34
21 S/ 1,782.87 S/ 1,297.61
22 S/ 1,782.87 S/ 1,307.96
23 S/ 1,782.87 S/ 1,318.39
24 S/ 1,782.87 S/ 1,328.90
25 S/ 1,782.87 S/ 1,339.50
26 S/ 1,782.87 S/ 1,350.18
27 S/ 1,782.87 S/ 1,360.95
28 S/ 1,782.87 S/ 1,371.80
29 S/ 1,782.87 S/ 1,382.74
30 S/ 1,782.87 S/ 1,393.76
31 S/ 1,782.87 S/ 1,404.88
32 S/ 1,782.87 S/ 1,416.08
33 S/ 1,782.87 S/ 1,427.37
34 S/ 1,782.87 S/ 1,438.75
35 S/ 1,782.87 S/ 1,450.23
36 S/ 1,782.87 S/ 1,461.79
37 S/ 1,782.87 S/ 1,473.45
38 S/ 1,782.87 S/ 1,485.20
39 S/ 1,782.87 S/ 1,497.04
40 S/ 1,782.87 S/ 1,508.98
41 S/ 1,782.87 S/ 1,521.01
42 S/ 1,782.87 S/ 1,533.14
43 S/ 1,782.87 S/ 1,545.36
44 S/ 1,782.87 S/ 1,557.69
45 S/ 1,782.87 S/ 1,570.11
46 S/ 1,782.87 S/ 1,582.63
47 S/ 1,782.87 S/ 1,595.25
48 S/ 1,782.87 S/ 1,607.97
49 S/ 1,782.87 S/ 1,620.79
50 S/ 1,782.87 S/ 1,633.72
51 S/ 1,782.87 S/ 1,646.74
52 S/ 1,782.87 S/ 1,659.87
53 S/ 1,782.87 S/ 1,673.11
54 S/ 1,782.87 S/ 1,686.45
55 S/ 1,782.87 S/ 1,699.90
56 S/ 1,782.87 S/ 1,713.46
57 S/ 1,782.87 S/ 1,727.12
58 S/ 1,782.87 S/ 1,740.89
59 S/ 1,782.87 S/ 1,754.77
 60 S/ 1,782.87 S/ 1,768.77
S/ 132,217.24 S/ 84,755.00

SALDO A PAGAR SIN IGV

Cuotasin
CuotaNº Amortización(AA)
IGV(VCM)
0 S/ 25,245.00
AÑO 1 S/ 21,394.45 S/ 13,882.66
AÑO2 S/ 21,394.45 S/ 15,270.92
AÑO 3 S/ 21,394.45 S/ 16,798.01
AÑO 4 S/ 21,394.45 S/ 18,477.81
AÑO 5 S/ 21,394.45 S/ 20,325.60
S/ 132,217.24 S/ 84,755.00

EVALUACIÓN DEL FINANCIAMIENTO

AÑO DEPRECIACIÓN EF DEPRECIACIÓN

0
1 22000 6600
2 22000 6600
3 22000 6600
4 22000
5 22000

VAN DESDE EL AÑO 0 -S/ 42,542.73

INGRESO DEL AÑO 0 S/ 84,755.00
VAN S/ 42,212.27
 CUADRO: CUOTAS DE ARRENDAMIENTO

Comisión de
ALDO A PAGAR SIN IGV SALDO A PAGAR CON IGV
Estructuración
Interés(IM) Saldo de Porte sin IGV de Cuota con IGV IGV del Porte con seguro
Capital(FKK) IGV(PM) la Cuota Porte IGV (CEA)
S/ 84,755.00 S/ 4,544.10 S/ 29,789.10 1298
S/ 675.85 S/ 83,647.98 8 S/ 320.92 S/ 2,103.79 1.44 9.44 S/ 26.27
S/ 667.02 S/ 82,532.13 8 S/ 320.92 S/ 2,103.79 1.44 9.44 S/ 26.27
S/ 658.12 S/ 81,407.38 8 S/ 320.92 S/ 2,103.79 1.44 9.44 S/ 26.27
S/ 649.15 S/ 80,273.66 8 S/ 320.92 S/ 2,103.79 1.44 9.44 S/ 26.27
S/ 640.11 S/ 79,130.91 8 S/ 320.92 S/ 2,103.79 1.44 9.44 S/ 26.27
S/ 631.00 S/ 77,979.04 8 S/ 320.92 S/ 2,103.79 1.44 9.44 S/ 26.27
S/ 621.82 S/ 76,817.98 8 S/ 320.92 S/ 2,103.79 1.44 9.44 S/ 26.27
S/ 612.56 S/ 75,647.67 8 S/ 320.92 S/ 2,103.79 1.44 9.44 S/ 26.27
S/ 603.23 S/ 74,468.02 8 S/ 320.92 S/ 2,103.79 1.44 9.44 S/ 26.27
S/ 593.82 S/ 73,278.97 8 S/ 320.92 S/ 2,103.79 1.44 9.44 S/ 26.27
S/ 584.34 S/ 72,080.44 8 S/ 320.92 S/ 2,103.79 1.44 9.44 S/ 26.27
S/ 574.78 S/ 70,872.34 8 S/ 320.92 S/ 2,103.79 1.44 9.44 S/ 26.27
S/ 565.15 S/ 69,654.62 8 S/ 320.92 S/ 2,103.79 1.44 9.44 S/ 26.27
S/ 555.44 S/ 68,427.18 8 S/ 320.92 S/ 2,103.79 1.44 9.44 S/ 26.27
S/ 545.65 S/ 67,189.96 8 S/ 320.92 S/ 2,103.79 1.44 9.44 S/ 26.27
S/ 535.78 S/ 65,942.87 8 S/ 320.92 S/ 2,103.79 1.44 9.44 S/ 26.27
S/ 525.84 S/ 64,685.84 8 S/ 320.92 S/ 2,103.79 1.44 9.44 S/ 26.27
S/ 515.81 S/ 63,418.78 8 S/ 320.92 S/ 2,103.79 1.44 9.44 S/ 26.27
S/ 505.71 S/ 62,141.62 8 S/ 320.92 S/ 2,103.79 1.44 9.44 S/ 26.27
S/ 495.53 S/ 60,854.28 8 S/ 320.92 S/ 2,103.79 1.44 9.44 S/ 26.27
S/ 485.26 S/ 59,556.67 8 S/ 320.92 S/ 2,103.79 1.44 9.44 S/ 26.27
S/ 474.91 S/ 58,248.71 8 S/ 320.92 S/ 2,103.79 1.44 9.44 S/ 26.27
S/ 464.48 S/ 56,930.32 8 S/ 320.92 S/ 2,103.79 1.44 9.44 S/ 26.27
S/ 453.97 S/ 55,601.42 8 S/ 320.92 S/ 2,103.79 1.44 9.44 S/ 26.27
S/ 443.37 S/ 54,261.93 8 S/ 320.92 S/ 2,103.79 1.44 9.44 S/ 26.27
S/ 432.69 S/ 52,911.75 8 S/ 320.92 S/ 2,103.79 1.44 9.44 S/ 26.27
S/ 421.93 S/ 51,550.80 8 S/ 320.92 S/ 2,103.79 1.44 9.44 S/ 26.27
S/ 411.07 S/ 50,179.01 8 S/ 320.92 S/ 2,103.79 1.44 9.44 S/ 26.27
S/ 400.13 S/ 48,796.27 8 S/ 320.92 S/ 2,103.79 1.44 9.44 S/ 26.27
S/ 389.11 S/ 47,402.51 8 S/ 320.92 S/ 2,103.79 1.44 9.44 S/ 26.27
S/ 377.99 S/ 45,997.63 8 S/ 320.92 S/ 2,103.79 1.44 9.44 S/ 26.27
S/ 366.79 S/ 44,581.55 8 S/ 320.92 S/ 2,103.79 1.44 9.44 S/ 26.27
S/ 355.50 S/ 43,154.18 8 S/ 320.92 S/ 2,103.79 1.44 9.44 S/ 26.27
S/ 344.12 S/ 41,715.43 8 S/ 320.92 S/ 2,103.79 1.44 9.44 S/ 26.27
S/ 332.64 S/ 40,265.20 8 S/ 320.92 S/ 2,103.79 1.44 9.44 S/ 26.27
S/ 321.08 S/ 38,803.41 8 S/ 320.92 S/ 2,103.79 1.44 9.44 S/ 26.27
S/ 309.42 S/ 37,329.96 8 S/ 320.92 S/ 2,103.79 1.44 9.44 S/ 26.27
S/ 297.67 S/ 35,844.77 8 S/ 320.92 S/ 2,103.79 1.44 9.44 S/ 26.27
S/ 285.83 S/ 34,347.73 8 S/ 320.92 S/ 2,103.79 1.44 9.44 S/ 26.27
S/ 273.89 S/ 32,838.75 8 S/ 320.92 S/ 2,103.79 1.44 9.44 S/ 26.27
S/ 261.86 S/ 31,317.74 8 S/ 320.92 S/ 2,103.79 1.44 9.44 S/ 26.27
S/ 249.73 S/ 29,784.60 8 S/ 320.92 S/ 2,103.79 1.44 9.44 S/ 26.27
S/ 237.51 S/ 28,239.24 8 S/ 320.92 S/ 2,103.79 1.44 9.44 S/ 26.27
S/ 225.18 S/ 26,681.55 8 S/ 320.92 S/ 2,103.79 1.44 9.44 S/ 26.27
S/ 212.76 S/ 25,111.44 8 S/ 320.92 S/ 2,103.79 1.44 9.44 S/ 26.27
S/ 200.24 S/ 23,528.81 8 S/ 320.92 S/ 2,103.79 1.44 9.44 S/ 26.27
S/ 187.62 S/ 21,933.57 8 S/ 320.92 S/ 2,103.79 1.44 9.44 S/ 26.27
S/ 174.90 S/ 20,325.60 8 S/ 320.92 S/ 2,103.79 1.44 9.44 S/ 26.27
S/ 162.08 S/ 18,704.80 8 S/ 320.92 S/ 2,103.79 1.44 9.44 S/ 26.27
S/ 149.15 S/ 17,071.09 8 S/ 320.92 S/ 2,103.79 1.44 9.44 S/ 26.27
S/ 136.13 S/ 15,424.34 8 S/ 320.92 S/ 2,103.79 1.44 9.44 S/ 26.27
S/ 123.00 S/ 13,764.47 8 S/ 320.92 S/ 2,103.79 1.44 9.44 S/ 26.27
S/ 109.76 S/ 12,091.36 8 S/ 320.92 S/ 2,103.79 1.44 9.44 S/ 26.27
S/ 96.42 S/ 10,404.91 8 S/ 320.92 S/ 2,103.79 1.44 9.44 S/ 26.27
S/ 82.97 S/ 8,705.01 8 S/ 320.92 S/ 2,103.79 1.44 9.44 S/ 26.27
S/ 69.41 S/ 6,991.55 8 S/ 320.92 S/ 2,103.79 1.44 9.44 S/ 26.27
S/ 55.75 S/ 5,264.43 8 S/ 320.92 S/ 2,103.79 1.44 9.44 S/ 26.27
S/ 41.98 S/ 3,523.54 8 S/ 320.92 S/ 2,103.79 1.44 9.44 S/ 26.27
S/ 28.10 S/ 1,768.77 8 S/ 320.92 S/ 2,103.79 1.44 9.44 S/ 26.27
 S/ 14.10 S/ 0.00 8 S/ 320.92 S/ 2,103.79 1.44 9.44 S/ 26.27
S/ 22,217.24 S/ 2,786,161.49 S/ 480.00 S/ 23,799.10 S/ 156,016.35 S/ 86.40 S/ 566.40 S/ 1,298.00 S/ 1,576.44

CUADRO: CUOTAS DE ARRENDAMIENTO

Comisión de
ALDO A PAGAR SIN IGV SALDO A PAGAR CON IGV
Estructuración
Saldo de Porte sin IGV de IGV del Porte con
Interés(IM) Cuota con IGV (CEA) seguro
Capital(FKK) IGV(PM) la Cuota Porte IGV
S/ 84,755.00 S/ 4,544.10 S/ 29,789.10 1298
S/ 7,511.79 S/ 928,136.51 S/ 96.00 S/ 3,851.00 S/ 25,245.45 S/ 17.28 S/ 113.28 S/ 0.00 S/ 315.29
S/ 6,123.53 S/ 752,652.29 S/ 96.00 S/ 3,851.00 S/ 25,245.45 S/ 17.28 S/ 113.28 S/ 0.00 S/ 315.29
S/ 4,596.44 S/ 559,619.66 S/ 96.00 S/ 3,851.00 S/ 25,245.45 S/ 17.28 S/ 113.28 S/ 0.00 S/ 315.29
S/ 2,916.63 S/ 347,283.76 S/ 96.00 S/ 3,851.00 S/ 25,245.45 S/ 17.28 S/ 113.28 S/ 0.00 S/ 315.29
S/ 1,068.85 S/ 113,714.27 S/ 96.00 S/ 3,851.00 S/ 25,245.45 S/ 17.28 S/ 113.28 S/ 0.00 S/ 315.29
S/ 22,217.24 S/ 2,786,161.49 S/ 480.00 S/ 23,799.10 S/ 156,016.35 S/ 86.40 S/ 566.40 S/ 1,298.00 S/ 1,576.44

PORTES SIN Comisión de Gasto

SEGURO SIN
AMORTIZACIÓN INTERÉS IGV IGV CUOTA IGV DEL PORTE IGV SEGURO Estructuración
IGV notarial
(CEA)
-S/ 1,298.00 -S/ 980.00
-S/ 13,882.66 -S/ 7,511.79 -S/ 96.00 -S/ 3,851.00 -S/ 17.28 -S/ 315.29 -S/ 56.75
-S/ 15,270.92 -S/ 6,123.53 -S/ 96.00 -S/ 3,851.00 -S/ 17.28 -S/ 315.29 -S/ 56.75
-S/ 16,798.01 -S/ 4,596.44 -S/ 96.00 -S/ 3,851.00 -S/ 17.28 -S/ 315.29 -S/ 56.75
-S/ 18,477.81 -S/ 2,916.63 -S/ 96.00 -S/ 3,851.00 -S/ 17.28 -S/ 315.29 -S/ 56.75
-S/ 20,325.60 -S/ 1,068.85 -S/ 96.00 -S/ 3,851.00 -S/ 17.28 -S/ 315.29 -S/ 56.75
CON IGV Saldo Total a
IGV seguro seguro con IGV Gasto
notarial pagar
980 S/ 32,067.10
S/ 4.73 S/ 31.00 S/ 2,144.23
S/ 4.73 S/ 31.00 S/ 2,144.23
S/ 4.73 S/ 31.00 S/ 2,144.23
S/ 4.73 S/ 31.00 S/ 2,144.23
S/ 4.73 S/ 31.00 S/ 2,144.23
S/ 4.73 S/ 31.00 S/ 2,144.23
S/ 4.73 S/ 31.00 S/ 2,144.23
S/ 4.73 S/ 31.00 S/ 2,144.23
S/ 4.73 S/ 31.00 S/ 2,144.23
S/ 4.73 S/ 31.00 S/ 2,144.23
S/ 4.73 S/ 31.00 S/ 2,144.23
S/ 4.73 S/ 31.00 S/ 2,144.23
S/ 4.73 S/ 31.00 S/ 2,144.23
S/ 4.73 S/ 31.00 S/ 2,144.23
S/ 4.73 S/ 31.00 S/ 2,144.23
S/ 4.73 S/ 31.00 S/ 2,144.23
S/ 4.73 S/ 31.00 S/ 2,144.23
S/ 4.73 S/ 31.00 S/ 2,144.23
S/ 4.73 S/ 31.00 S/ 2,144.23
S/ 4.73 S/ 31.00 S/ 2,144.23
S/ 4.73 S/ 31.00 S/ 2,144.23
S/ 4.73 S/ 31.00 S/ 2,144.23
S/ 4.73 S/ 31.00 S/ 2,144.23
S/ 4.73 S/ 31.00 S/ 2,144.23
S/ 4.73 S/ 31.00 S/ 2,144.23
S/ 4.73 S/ 31.00 S/ 2,144.23
S/ 4.73 S/ 31.00 S/ 2,144.23
S/ 4.73 S/ 31.00 S/ 2,144.23
S/ 4.73 S/ 31.00 S/ 2,144.23
S/ 4.73 S/ 31.00 S/ 2,144.23
S/ 4.73 S/ 31.00 S/ 2,144.23
S/ 4.73 S/ 31.00 S/ 2,144.23
S/ 4.73 S/ 31.00 S/ 2,144.23
S/ 4.73 S/ 31.00 S/ 2,144.23
S/ 4.73 S/ 31.00 S/ 2,144.23
S/ 4.73 S/ 31.00 S/ 2,144.23
S/ 4.73 S/ 31.00 S/ 2,144.23
S/ 4.73 S/ 31.00 S/ 2,144.23
S/ 4.73 S/ 31.00 S/ 2,144.23
S/ 4.73 S/ 31.00 S/ 2,144.23
S/ 4.73 S/ 31.00 S/ 2,144.23
S/ 4.73 S/ 31.00 S/ 2,144.23
S/ 4.73 S/ 31.00 S/ 2,144.23
S/ 4.73 S/ 31.00 S/ 2,144.23
S/ 4.73 S/ 31.00 S/ 2,144.23
S/ 4.73 S/ 31.00 S/ 2,144.23
S/ 4.73 S/ 31.00 S/ 2,144.23
S/ 4.73 S/ 31.00 S/ 2,144.23
S/ 4.73 S/ 31.00 S/ 2,144.23
S/ 4.73 S/ 31.00 S/ 2,144.23
S/ 4.73 S/ 31.00 S/ 2,144.23
S/ 4.73 S/ 31.00 S/ 2,144.23
S/ 4.73 S/ 31.00 S/ 2,144.23
S/ 4.73 S/ 31.00 S/ 2,144.23
S/ 4.73 S/ 31.00 S/ 2,144.23
S/ 4.73 S/ 31.00 S/ 2,144.23
S/ 4.73 S/ 31.00 S/ 2,144.23
S/ 4.73 S/ 31.00 S/ 2,144.23
S/ 4.73 S/ 31.00 S/ 2,144.23
 S/ 4.73 S/ 31.00 S/ 2,144.23
S/ 283.76 S/ 1,860.20 S/ 980.00 S/ 160,720.95

CON IGV Saldo Total a

Gasto
IGV seguro seguro con IGV pagar
notarial
980 S/ 32,067.10
S/ 56.75 S/ 372.04 S/ 0.00 S/ 25,730.77
S/ 56.75 S/ 372.04 S/ 0.00 S/ 25,730.77
S/ 56.75 S/ 372.04 S/ 0.00 S/ 25,730.77
S/ 56.75 S/ 372.04 S/ 0.00 S/ 25,730.77
S/ 56.75 S/ 372.04 S/ 0.00 S/ 25,730.77
S/ 283.76 S/ 1,860.20 S/ 980.00 S/ 160,720.95

CREDITO EF DEL GASTO OPCIÓN DE

SALDO
FISCAL FINANCIERO COMPRA
-S/ 2,278.00
S/ 3,925.03 S/ 7,923.08 -S/ 7,282.66
S/ 3,925.03 S/ 6,534.82 -S/ 8,670.92
S/ 3,925.03 S/ 5,007.72 -S/ 10,198.01
S/ 3,925.03 S/ 3,327.92 -S/ 18,477.81
S/ 3,925.03 S/ 1,480.14 0 -S/ 20,325.60
CASO 1
EMPRESA ADQUIERE UN PRESTAMO POR 100000
MODALIDAD DE PAGO: CUOTAS CONSTANTES
PERIODO DE PAGO 5 AÑOS
PERIODO DE PAGO ( MESES) 60
TEA 12%
SEGURO MENSUAL 0.031%
PORTES MENSUAL 8
EL PRECIO DE VENTA DEL ACTIVO 129800
VALOR DE VENTA 110000
IGV 19800
APORTE DEL INVERSIONISTA 29800
TASA DE DEPRECIACIÓN 0.2
TASA DE IMPUESTO A LA RENTA 0.3
SE LE PIDE
A. ELABORE EL CUADRO DEL SERVICIO DE DEUDA MENSUAL
B. EL CUADRO DE SERVICIO DE DEUDA ANUAL
A ^
TEM 0.95%
FRC 0.0219356958702232
CUOTA 2193.57
CUOTA -S/ 2,193.57

SERVICIO DE DEUDA MENSUAL

PERIODO SALDO DE DEUAMORTIZACIÓN INTERÉS CUOTA SEGURO PORTE IGV SEGUR
1 100000 1244.69 948.88 2193.57 31 8 5.58
2 98755.31 1256.50 937.07 2193.57 31 8 5.58
3 97498.81 1268.42 925.15 2193.57 31 8 5.58
 4 96230.39 1280.46 913.11 2193.57 31 8 5.58
5 94949.93 1292.61 900.96 2193.57 31 8 5.58
6 93657.32 1304.87 888.69 2193.57 31 8 5.58
7 92352.44 1317.26 876.31 2193.57 31 8 5.58
8 91035.19 1329.76 863.81 2193.57 31 8 5.58
9 89705.43 1342.37 851.20 2193.57 31 8 5.58
10 88363.06 1355.11 838.46 2193.57 31 8 5.58
11 87007.95 1367.97 825.60 2193.57 31 8 5.58
12 85639.98 1380.95 812.62 2193.57 31 8 5.58
13 84259.03 1394.05 799.52 2193.57 31 8 5.58
14 82864.97 1407.28 786.29 2193.57 31 8 5.58
15 81457.69 1420.63 772.94 2193.57 31 8 5.58
16 80037.06 1434.11 759.46 2193.57 31 8 5.58
17 78602.94 1447.72 745.85 2193.57 31 8 5.58
18 77155.22 1461.46 732.11 2193.57 31 8 5.58
19 75693.76 1475.33 718.24 2193.57 31 8 5.58
20 74218.43 1489.33 704.24 2193.57 31 8 5.58
21 72729.11 1503.46 690.11 2193.57 31 8 5.58
22 71225.65 1517.72 675.85 2193.57 31 8 5.58
23 69707.93 1532.13 661.44 2193.57 31 8 5.58
24 68175.80 1546.66 646.91 2193.57 31 8 5.58
25 66629.14 1561.34 632.23 2193.57 31 8 5.58
26 65067.80 1576.15 617.41 2193.57 31 8 5.58
27 63491.64 1591.11 602.46 2193.57 31 8 5.58
28 61900.53 1606.21 587.36 2193.57 31 8 5.58
29 60294.32 1621.45 572.12 2193.57 31 8 5.58
30 58672.87 1636.83 556.73 2193.57 31 8 5.58
31 57036.04 1652.37 541.20 2193.57 31 8 5.58
32 55383.67 1668.05 525.52 2193.57 31 8 5.58
33 53715.63 1683.87 509.70 2193.57 31 8 5.58
34 52031.75 1699.85 493.72 2193.57 31 8 5.58
35 50331.90 1715.98 477.59 2193.57 31 8 5.58
 36 48615.92 1732.26 461.31 2193.57 31 8 5.58
37 46883.66 1748.70 444.87 2193.57 31 8 5.58
38 45134.96 1765.29 428.28 2193.57 31 8 5.58
39 43369.67 1782.04 411.53 2193.57 31 8 5.58
40 41587.62 1798.95 394.62 2193.57 31 8 5.58
41 39788.67 1816.02 377.55 2193.57 31 8 5.58
42 37972.65 1833.26 360.31 2193.57 31 8 5.58
43 36139.39 1850.65 342.92 2193.57 31 8 5.58
44 34288.74 1868.21 325.36 2193.57 31 8 5.58
45 32420.53 1885.94 307.63 2193.57 31 8 5.58
46 30534.59 1903.83 289.74 2193.57 31 8 5.58
47 28630.76 1921.90 271.67 2193.57 31 8 5.58
48 26708.86 1940.13 253.43 2193.57 31 8 5.58
49 24768.73 1958.54 235.03 2193.57 31 8 5.58
50 22810.18 1977.13 216.44 2193.57 31 8 5.58
51 20833.05 1995.89 197.68 2193.57 31 8 5.58
52 18837.16 2014.83 178.74 2193.57 31 8 5.58
53 16822.34 2033.95 159.62 2193.57 31 8 5.58
54 14788.39 2053.25 140.32 2193.57 31 8 5.58
55 12735.15 2072.73 120.84 2193.57 31 8 5.58
56 10662.42 2092.40 101.17 2193.57 31 8 5.58
57 8570.02 2112.25 81.32 2193.57 31 8 5.58
58 6457.77 2132.29 61.28 2193.57 31 8 5.58
59 4325.48 2152.53 41.04 2193.57 31 8 5.58
60 2172.95 2172.95 20.62 2193.57 31 8 5.58
100000.00 31614.18 131614.18 1860.00 480.00 334.80
B.
FRC 0.277409731941049
CUOTA 27740.97
CUOTA -S/ 27,740.97
ESTIMACIÓN CON LA TEA
PERIODO SALDO AMORTIZACIÓN INTERÉS CUOTA
 1 100000 15740.97 12000 27740.97
2 84259.03 17629.89 10111.0832167 27740.97
3 66629.14 19745.48 7995.49641942 27740.97
4 46883.66 22114.93 5626.03920646 27740.97
5 24768.73 24768.73 2972.24712794 27740.97
100000.00 38704.8659705 138704.87

ESTIMACIÓN CON LA TEM

PERIODO SALDO AMORTIZACIÓN INTERÉS CUOTA SEGURO PORTE IGV SEGUR
1 100000 15740.97 10581.86 26322.84 372.00 96.00 66.96
2 84259.03 17629.89 8692.95 26322.84 372.00 96.00 66.96
3 66629.14 19745.48 6577.36 26322.84 372.00 96.00 66.96
4 46883.66 22114.93 4207.90 26322.84 372.00 96.00 66.96
5 24768.73 24768.73 1554.11 26322.84 372.00 96.00 66.96
100000.00 31614.18 131614.18 1860.00 480.00 334.80

EVALUACIÓN DEL FINANCIAMIENTO

FLUJOS DE FINANCIAMIENTO NETO

ESCUDO FISCAL DE CRÉDITO

PERIODO DEPRECIACIÓN AMORTIZACIÓN INTERÉS SEGURO PORTE
LA DEPRECIACIÓN FISCAL
1 22000 6600 -15740.97 -10581.86 -372.00 -96.00 84.24
2 22000 6600 -17629.89 -8692.95 -372.00 -96.00 84.24
3 22000 6600 -19745.48 -6577.36 -372.00 -96.00 84.24
4 22000 6600 -22114.93 -4207.90 -372.00 -96.00 84.24
5 22000 6600 -24768.73 -1554.11 -372.00 -96.00 84.24

VAN DESDE EL PERIODO 1 -S/ 60,228.77

INGRESO DEL AÑO 0 100000
VAN DESDE EL PERIODO S/ 39,771.23
IGV PORTES CUOTA TOTAL
1.44 2239.59
1.44 2239.59
1.44 2239.59
1.44 2239.59
1.44 2239.59
1.44 2239.59
1.44 2239.59
1.44 2239.59
1.44 2239.59
1.44 2239.59
1.44 2239.59
1.44 2239.59
1.44 2239.59
1.44 2239.59
1.44 2239.59
1.44 2239.59
1.44 2239.59
1.44 2239.59
1.44 2239.59
1.44 2239.59
1.44 2239.59
1.44 2239.59
1.44 2239.59
1.44 2239.59
1.44 2239.59
1.44 2239.59
1.44 2239.59
1.44 2239.59
1.44 2239.59
1.44 2239.59
1.44 2239.59
1.44 2239.59
1.44 2239.59
1.44 2239.59
1.44 2239.59
 1.44 2239.59
1.44 2239.59
1.44 2239.59
1.44 2239.59
1.44 2239.59
1.44 2239.59
1.44 2239.59
1.44 2239.59
1.44 2239.59
1.44 2239.59
1.44 2239.59
1.44 2239.59
1.44 2239.59
1.44 2239.59
1.44 2239.59
1.44 2239.59
1.44 2239.59
1.44 2239.59
1.44 2239.59
1.44 2239.59
1.44 2239.59
1.44 2239.59
1.44 2239.59
1.44 2239.59
1.44 2239.59
86.40 134375.38
IGV PORTES CUOTA TOTAL
17.28 26875.08
17.28 26875.08
17.28 26875.08
17.28 26875.08
17.28 26875.08
86.40 134375.38

ESCUDO FISCAL
IGV SEGURO IGV PORTES DEL GASTO SALDO
FINANCIERO
-66.96 -17.28 3315.0 -16875.9
-66.96 -17.28 2748.3 -17442.6
-66.96 -17.28 2113.6 -18077.2
-66.96 -17.28 1402.8 -18788.1
-66.96 -17.28 606.6 -19584.2
EMPRESA DESEA FINANCIAR 100000 SOLES MEDIANTE
EMISIÓN DE BONOS CORPORATIVOS, PARA LA ADQUISICIÓN
DE UN ACTIVO.
DATOS
COMISIÓN SMV 1.5%
TASA CUPÓN 10%
VALOR NOMINAL TOTAL DE LOS BONOS 100000
VALOR NOMINAL DE CADA BONO 1000
PAGO DEL CUPÓN ANUAL
PERIODO 5 AÑOS
EL PRECIO DE VENTA DEL ACTIVO 129800
VALOR DE VENTA 110000
IGV 19800
TASA DE DEPRECIACIÓN 20.00%
TASA DE IMPUESTO A LA RENTA 0.3
TASA DE DESCUENTO 15%

VALOR NOMINAL
PERIODO CUPÓN DE LOS BONOS COMISIÓN

0 1500
1 10000
2 10000
3 10000
4 10000
5 10000 100000

FLUJO DE FINANCIAMIENTO NETO

 ESCUDO FISCAL VALOR NOMINAL ESCUDO FISCAL
AÑO DEPRECIACIÓN DE LA CUPÓN DE LOS BONOS COMISIÓN DEL GASTO SALDO
DEPRECIACIÓN FINANCIERO
0 -1500 -1500
1 22000 6600 -10000 3000 -400
2 22000 6600 -10000 3000 -400
3 22000 6600 -10000 3000 -400
4 22000 6600 -10000 3000 -400
5 22000 6600 -10000 -100000 3000 -100400

VAN -S/ 52,558.54

INGRESO DEL AÑO 0 100000
VAN S/ 47,441.46
ALTERNATIVAS VAN (1) VAN (2)
PRÉSTAMO -S/ 60,228.77 S/ 39,771.23
LEASING -S/ 42,542.73 S/ 42,212.27
EMISIÓN DE BONOS -S/ 52,558.54 S/ 47,441.46

( 1) DEL FLUJO DE FINANCIAMIENTO NETO

( 2) INCLUYENDO EL INGRESO DEL FINANCIAMIENTO EN EL AÑO 0