Taller 2 - MATEMTICAS FINANCIERAS

1. Se desea comprar un equipo de laboratorio para anlisis de indicadores ambientales cuyo precio es $17500.000 financ
a una tasa del 13% anual. La cuota inicial en el momento cero es $1500.000. a) Cul es el monto de la cuota mensual? b)
la cuota mensual en $150,000, cul es el monto de la cuota extra que debe pagar en el mes 15? c) Si la cuota mensu
$20.000 sin pagar cuotas extras, cul debera ser la tasa de inters que usted debera negociar?

2.Usted desea comprar un equipo de descontaminacin cuyo valor en el mercado es $23500.000, el cual ser arrendado
de adquirirlo al final por la suma de $2500.000. Si el arrendador desea realizar un rendimiento del 4,8% trimestral, cual de
pagos mensuales los cuales vencern: a) Al final de cada mes, b) Al principio de cada mes, c) Si se fija la mensualidad en $3
aos, comenzando a pagar la primera cuota al final del primer mes; cul debe ser el monto de la opcin de compra al fina
que exista una equivalencia financiera entre las opciones?

3.A usted se le presentan dos opciones para adquirir una planta de descontaminacin. Seleccione la mejor opcin:
Caso 1. Adquirirla hoy por $85000.000.
Caso 2. Arrendarla por 4 aos. Los pagos mensuales vencidos son de $2400.000. Un pago adicional de $2400.000 e
contrato incluye la opcin de comprar la mquina al precio de $15000.000 al final del perodo de arrendamiento. Asuma una t
anual compuesta trimestralmente.

4. Si se desea tener dentro de ocho aos, al final de los mismos, en una cuenta de ahorros $16800.000 para reem
informacin Cunto dinero tendr que depositarse anualmente hasta el ao ocho, comenzando dentro de un ao, si la tas
trimestre anticipado? Cmo vara el resultado si se inicia el depsito desde el ao cero y va hasta el ao 7?

5. La compaa XYZ est empeada en un programa de reduccin de costos operativos. El vicepresidente de operacion
meta de ahorro para los prximos cuatro aos que equivale a $1190.000 en valor presente. l estima que la compaa
ahorrar $450.000 el primer ao, pero que la reduccin de costos ser ms difcil cada ao. Si se espera que los ahorr
aritmtico en forma decreciente, cules sern las reducciones en los aos 2, 3 y 4 a fin de que la compaa alcance la meta
de inters de la compaa es el 15% anual compuesto semestralmente.

6. Usted adquiere un prstamo de $19000.00 pagadero a 6 aos con cuotas mensuales que crecern a una tasa que us
en forma tal que se adecue mejor a sus condiciones econmicas. La tasa de financiacin es el 3,8% trimestral y los crecim
cuotas son: a) 0.8% mensual, b) 1% mensual. Determine para cada caso el monto de las cuotas mensuales. Haga la co
amortizacin. Grafique para cada caso el Capital fin perodo.

7. Usted adquiere un prstamo de $15000.000 pagadero a 2 aos con cuotas mensuales con crecimiento geom
financiado a una tasa del 1.5% mensual. Determine cul deber ser la tasa de crecimiento de las cuotas mensuales para
pagadera al final del primer mes sea $500.000. Haga la correspondiente tabla de amortizacin.

8.Resuelva el problema anterior si el crecimiento es aritmtico. Igualmente haga la correspondiente tabla de amortizacin

PUNTO1
n=
i=

18
1.02%

(F/P,i,n) =
(P/F,i,n) =
(F/A,i,n) =
(A/F,i,n) =
(A/P,i,n) =
(P/A,i,n) =
(A/G,i,n) =

15
1.02%

18
0.80%

1.2012064768 1.1650593628
0.8324963437 0.8583253626
19.6551270879 16.1240473154
0.0508773103
0.062019168
0.0611141547 0.0722560124
16.3628214357 13.8396787583
8.2260129689 6.8099579229

1.1538909811
0.8666329977
19.2751447366
0.0518802849
0.0598641928
16.7044764642
8.2860264271

PUNTO 1A
COSTO =
$17,500,000 P =
C. INICIAL =
$1,500,000 A =
n=
18 X =
E=
13.00% P =
m=
12
i (mensual) =
1.02%
P =
$16,000,000
A=
$977,826.47

PUNTO 1B
PUNTO 1C
$16,000,000 P =
$16,000,000
$827,826 A =
$957,826
$2,859,549 (P/A,i,n) =
16.7044871104
$16,000,000

PUNTO 1A
Perodo

Capital inicio
perodo

0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18

$17,500,000.00
$16,000,000.00
$15,185,963.04
$14,363,592.90
$13,532,804.29
$12,693,511.03
$11,845,626.05
$10,989,061.40
$10,123,728.24
$9,249,536.80
$8,366,396.39
$7,474,215.41
$6,572,901.32
$5,662,360.61
$4,742,498.84
$3,813,220.59
$2,874,429.46
$1,926,028.07
$967,918.05

Inters causado
en el perodo

$163,789.51
$155,456.34
$147,037.86
$138,533.21
$129,941.50
$121,261.83
$112,493.31
$103,635.03
$94,686.07
$85,645.50
$76,512.38
$67,285.77
$57,964.70
$48,548.22
$39,035.35
$29,425.09
$19,716.45
$9,908.43

Capital + Inters

Cuota

Capital fin perodo

$16,163,789.51
$15,341,419.38
$14,510,630.77
$13,671,337.50
$12,823,452.52
$11,966,887.88
$11,101,554.72
$10,227,363.27
$9,344,222.87
$8,452,041.89
$7,550,727.79
$6,640,187.09
$5,720,325.32
$4,791,047.06
$3,852,255.94
$2,903,854.55
$1,945,744.52
$977,826.47

$1,500,000.00
$977,826.47
$977,826.47
$977,826.47
$977,826.47
$977,826.47
$977,826.47
$977,826.47
$977,826.47
$977,826.47
$977,826.47
$977,826.47
$977,826.47
$977,826.47
$977,826.47
$977,826.47
$977,826.47
$977,826.47
$977,826.47

$16,000,000.00
$15,185,963.04
$14,363,592.90
$13,532,804.29
$12,693,511.03
$11,845,626.05
$10,989,061.40
$10,123,728.24
$9,249,536.80
$8,366,396.39
$7,474,215.41
$6,572,901.32
$5,662,360.61
$4,742,498.84
$3,813,220.59
$2,874,429.46
$1,926,028.07
$967,918.05
$0.00

Cuota

Capital fin perodo

PUNTO 1C
Perodo

Capital inicio
perodo

Inters causado
en el perodo

Capital + Inters

Pgina1

PUNTO1
0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18

$17,500,000.00
$16,000,000.00
$15,169,916.05
$14,333,204.79
$13,489,813.30
$12,639,688.26
$11,782,775.89
$10,919,022.01
$10,048,372.00
$9,170,770.81
$8,286,162.92
$7,394,492.41
$6,495,702.88
$5,589,737.50
$4,676,538.98
$3,756,049.56
$2,828,211.04
$1,892,964.74
$950,251.52

$127,742.53
$121,115.21
$114,434.99
$107,701.43
$100,914.11
$94,072.60
$87,176.47
$80,225.28
$73,218.59
$66,155.96
$59,036.95
$51,861.09
$44,627.95
$37,337.06
$29,987.95
$22,580.18
$15,113.26
$7,586.72

$16,127,742.53
$15,291,031.27
$14,447,639.78
$13,597,514.73
$12,740,602.36
$11,876,848.49
$11,006,198.48
$10,128,597.28
$9,243,989.40
$8,352,318.88
$7,453,529.36
$6,547,563.98
$5,634,365.45
$4,713,876.03
$3,786,037.51
$2,850,791.21
$1,908,078.00
$957,838.24

Pgina2

$1,500,000.00
$957,826.47
$957,826.47
$957,826.47
$957,826.47
$957,826.47
$957,826.47
$957,826.47
$957,826.47
$957,826.47
$957,826.47
$957,826.47
$957,826.47
$957,826.47
$957,826.47
$957,826.47
$957,826.47
$957,826.47
$957,838.24

$16,000,000.00
$15,169,916.05
$14,333,204.79
$13,489,813.30
$12,639,688.26
$11,782,775.89
$10,919,022.01
$10,048,372.00
$9,170,770.81
$8,286,162.92
$7,394,492.41
$6,495,702.88
$5,589,737.50
$4,676,538.98
$3,756,049.56
$2,828,211.04
$1,892,964.74
$950,251.52
$
(0.00)

PUNTO1

PUNTO 1B
Abono a Capital

$1,500,000.00
$814,036.96
$822,370.13
$830,788.61
$839,293.26
$847,884.98
$856,564.64
$865,333.16
$874,191.44
$883,140.41
$892,180.98
$901,314.09
$910,540.71
$919,861.77
$929,278.25
$938,791.13
$948,401.39
$958,110.03
$967,918.05

Perodo

Capital inicio
perodo

0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18

$17,500,000.00
$16,000,000.00
$15,335,963.04
$14,665,128.43
$13,987,426.59
$13,302,787.22
$12,611,139.31
$11,912,411.11
$11,206,530.13
$10,493,423.16
$9,773,016.23
$9,045,234.60
$8,310,002.78
$7,567,244.51
$6,816,882.74
$6,058,839.63
$2,433,487.81
$1,630,572.57
$819,438.02

Abono a Capital

Pgina3

Inters
causado en el Capital + Inters
perodo

$163,789.51
$156,991.87
$150,124.64
$143,187.11
$136,178.56
$129,098.27
$121,945.50
$114,719.50
$107,419.54
$100,044.85
$92,594.66
$85,068.21
$77,464.70
$69,783.37
$62,023.40
$24,911.24
$16,691.92
$8,388.46

$16,163,789.51
$15,492,954.90
$14,815,253.06
$14,130,613.70
$13,438,965.79
$12,740,237.58
$12,034,356.61
$11,321,249.64
$10,600,842.70
$9,873,061.07
$9,137,829.26
$8,395,070.99
$7,644,709.22
$6,886,666.11
$6,120,863.03
$2,458,399.05
$1,647,264.49
$827,826.47

PUNTO1
$1,500,000.00
$830,083.95
$836,711.26
$843,391.49
$850,125.05
$856,912.37
$863,753.88
$870,650.01
$877,601.20
$884,607.88
$891,670.51
$898,789.53
$905,965.38
$913,198.53
$920,489.42
$927,838.52
$935,246.30
$942,713.22
$950,251.52

Pgina4

PUNTO1

UNTO 1B
Cuota

$1,500,000.00
$827,826.47
$827,826.47
$827,826.47
$827,826.47
$827,826.47
$827,826.47
$827,826.47
$827,826.47
$827,826.47
$827,826.47
$827,826.47
$827,826.47
$827,826.47
$827,826.47
$3,687,375.22
$827,826.47
$827,826.47
$827,826.47

Capital fin
perodo

Abono a Capital

$16,000,000.00 $1,500,000.00
$15,335,963.04
$664,036.96
$14,665,128.43
$670,834.61
$13,987,426.59
$677,701.84
$13,302,787.22
$684,639.37
$12,611,139.31
$691,647.91
$11,912,411.11
$698,728.20
$11,206,530.13
$705,880.98
$10,493,423.16
$713,106.97
$9,773,016.23
$720,406.93
$9,045,234.60
$727,781.63
$8,310,002.78
$735,231.82
$7,567,244.51
$742,758.27
$6,816,882.74
$750,361.77
$6,058,839.63
$758,043.11
$2,433,487.81 $3,625,351.82
$1,630,572.57
$802,915.24
$819,438.02
$811,134.56
$0.00
$819,438.02

Pgina5

PUNTO1

Pgina6

PUNTO2
n=
i=
(F/P,i,n) =
(P/F,i,n) =
(F/A,i,n) =
(A/F,i,n) =
(A/P,i,n) =
(P/A,i,n) =
(A/G,i,n) =

36
1.58%

35
1.58%

1.7552354909
0.5697241226
47.9495855174
0.0208552376
0.0366058533
27.3180355371
15.8223304662

1.7280181414
0.5786976283
46.221567376
0.0216349219
0.0373855375
26.7483114145
15.4138567955

PUNTO 2A
i (trimestral) =
4.80%
m=
4
E=
20.63%
m=
12
i (mensual)
1.58%
CI =
$23,500,000
CF =
$2,500,000
P=
$22,075,690
A=
$808,099

P=
A=

PUNTO 2B
$22,075,690
$795,569

P=
A=
X=
P=

PUNTO 2C
$23,500,000
$300,000
$26,863,158.38
$23,500,000

PUNTO 2A
Perodo

0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20

Capital inicio
perodo

Inters causado
en el perodo

Capital + Inters

Cuota

Capital fin perodo

$23,500,000.00
$23,062,040.01
$22,617,181.88
$22,165,316.96
$21,706,334.89
$21,240,123.57
$20,766,569.14
$20,285,555.93
$19,796,966.46
$19,300,681.42
$18,796,579.57
$18,284,537.82
$17,764,431.09
$17,236,132.35
$16,699,512.59
$16,154,440.74
$15,600,783.67
$15,038,406.16
$14,467,170.86
$13,886,938.25

$370,139.47
$363,241.33
$356,234.54
$349,117.39
$341,888.14
$334,545.02
$327,086.25
$319,509.99
$311,814.41
$303,997.61
$296,057.70
$287,992.73
$279,800.73
$271,479.70
$263,027.60
$254,442.39
$245,721.95
$236,864.16
$227,866.85
$218,727.83

$23,870,139.47
$23,425,281.34
$22,973,416.42
$22,514,434.35
$22,048,223.03
$21,574,668.59
$21,093,655.39
$20,605,065.92
$20,108,780.87
$19,604,679.03
$19,092,637.27
$18,572,530.54
$18,044,231.81
$17,507,612.05
$16,962,540.20
$16,408,883.13
$15,846,505.62
$15,275,270.31
$14,695,037.70
$14,105,666.07

$808,099.46
$808,099.46
$808,099.46
$808,099.46
$808,099.46
$808,099.46
$808,099.46
$808,099.46
$808,099.46
$808,099.46
$808,099.46
$808,099.46
$808,099.46
$808,099.46
$808,099.46
$808,099.46
$808,099.46
$808,099.46
$808,099.46
$808,099.46

$23,500,000.00
$23,062,040.01
$22,617,181.88
$22,165,316.96
$21,706,334.89
$21,240,123.57
$20,766,569.14
$20,285,555.93
$19,796,966.46
$19,300,681.42
$18,796,579.57
$18,284,537.82
$17,764,431.09
$17,236,132.35
$16,699,512.59
$16,154,440.74
$15,600,783.67
$15,038,406.16
$14,467,170.86
$13,886,938.25
$13,297,566.62

Pgina7

PUNTO2
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36

$13,297,566.62
$12,698,912.02
$12,090,828.24
$11,473,166.77
$10,845,776.76
$10,208,504.96
$9,561,195.74
$8,903,691.00
$8,235,830.16
$7,557,450.10
$6,868,385.13
$6,168,466.97
$5,457,524.66
$4,735,384.58
$4,001,870.34
$3,256,802.81

$209,444.86
$200,015.68
$190,437.99
$180,709.44
$170,827.66
$160,790.24
$150,594.72
$140,238.61
$129,719.40
$119,034.49
$108,181.29
$97,157.15
$85,959.37
$74,585.22
$63,031.92
$51,296.65

$13,507,011.48
$12,898,927.70
$12,281,266.23
$11,653,876.21
$11,016,604.42
$10,369,295.20
$9,711,790.46
$9,043,929.62
$8,365,549.55
$7,676,484.59
$6,976,566.43
$6,265,624.12
$5,543,484.04
$4,809,969.80
$4,064,902.27
$3,308,099.46

$808,099.46
$808,099.46
$808,099.46
$808,099.46
$808,099.46
$808,099.46
$808,099.46
$808,099.46
$808,099.46
$808,099.46
$808,099.46
$808,099.46
$808,099.46
$808,099.46
$808,099.46
$3,308,099.46

$12,698,912.02
$12,090,828.24
$11,473,166.77
$10,845,776.76
$10,208,504.96
$9,561,195.74
$8,903,691.00
$8,235,830.16
$7,557,450.10
$6,868,385.13
$6,168,466.97
$5,457,524.66
$4,735,384.58
$4,001,870.34
$3,256,802.81
($0.00)

PUNTO 2C
Perodo

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

Capital inicio
perodo

Inters causado
en el perodo

Capital + Inters

Cuota

Capital fin perodo

$23,500,000.00
$23,570,139.47
$23,641,383.67
$23,713,750.02
$23,787,256.18
$23,861,920.11
$23,937,760.04
$24,014,794.50
$24,093,042.30
$24,172,522.55
$24,253,254.66
$24,335,258.35
$24,418,553.65
$24,503,160.90
$24,589,100.77
$24,676,394.25
$24,765,062.65
$24,855,127.63
$24,946,611.19
$25,039,535.68
$25,133,923.78
$25,229,798.55
$25,327,183.41
$25,426,102.14
$25,526,578.90
$25,628,638.24
$25,732,305.07

$370,139.47
$371,244.21
$372,366.35
$373,506.16
$374,663.93
$375,839.93
$377,034.46
$378,247.80
$379,480.25
$380,732.11
$382,003.69
$383,295.30
$384,607.25
$385,939.87
$387,293.47
$388,668.40
$390,064.98
$391,483.56
$392,924.48
$394,388.10
$395,874.77
$397,384.86
$398,918.73
$400,476.76
$402,059.33
$403,666.83
$405,299.65

$23,870,139.47
$23,941,383.67
$24,013,750.02
$24,087,256.18
$24,161,920.11
$24,237,760.04
$24,314,794.50
$24,393,042.30
$24,472,522.55
$24,553,254.66
$24,635,258.35
$24,718,553.65
$24,803,160.90
$24,889,100.77
$24,976,394.25
$25,065,062.65
$25,155,127.63
$25,246,611.19
$25,339,535.68
$25,433,923.78
$25,529,798.55
$25,627,183.41
$25,726,102.14
$25,826,578.90
$25,928,638.24
$26,032,305.07
$26,137,604.71

$300,000.00
$300,000.00
$300,000.00
$300,000.00
$300,000.00
$300,000.00
$300,000.00
$300,000.00
$300,000.00
$300,000.00
$300,000.00
$300,000.00
$300,000.00
$300,000.00
$300,000.00
$300,000.00
$300,000.00
$300,000.00
$300,000.00
$300,000.00
$300,000.00
$300,000.00
$300,000.00
$300,000.00
$300,000.00
$300,000.00
$300,000.00

$23,500,000.00
$23,570,139.47
$23,641,383.67
$23,713,750.02
$23,787,256.18
$23,861,920.11
$23,937,760.04
$24,014,794.50
$24,093,042.30
$24,172,522.55
$24,253,254.66
$24,335,258.35
$24,418,553.65
$24,503,160.90
$24,589,100.77
$24,676,394.25
$24,765,062.65
$24,855,127.63
$24,946,611.19
$25,039,535.68
$25,133,923.78
$25,229,798.55
$25,327,183.41
$25,426,102.14
$25,526,578.90
$25,628,638.24
$25,732,305.07
$25,837,604.71

Pgina8

PUNTO2
28
29
30
31
32
33
34
35
36

$25,837,604.71
$25,944,562.89
$26,053,205.73
$26,163,559.76
$26,275,651.93
$26,389,509.63
$26,505,160.65
$26,622,633.25
$26,741,956.11

$406,958.18
$408,642.84
$410,354.03
$412,092.17
$413,857.69
$415,651.02
$417,472.60
$419,322.86
$421,202.27

$26,244,562.89
$300,000.00
$26,353,205.73
$300,000.00
$26,463,559.76
$300,000.00
$26,575,651.93
$300,000.00
$26,689,509.63
$300,000.00
$26,805,160.65
$300,000.00
$26,922,633.25
$300,000.00
$27,041,956.11
$300,000.00
$27,163,158.38 $27,163,158.38

Pgina9

$25,944,562.89
$26,053,205.73
$26,163,559.76
$26,275,651.93
$26,389,509.63
$26,505,160.65
$26,622,633.25
$26,741,956.11
$0.00

PUNTO2

PUNTO 2B
Abono a Capital

$0.00
$437,959.99
$444,858.13
$451,864.92
$458,982.07
$466,211.32
$473,554.44
$481,013.21
$488,589.46
$496,285.05
$504,101.84
$512,041.76
$520,106.73
$528,298.73
$536,619.76
$545,071.85
$553,657.07
$562,377.51
$571,235.30
$580,232.61
$589,371.63

Perodo

0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20

Capital inicio
perodo

Inters
causado en el
perodo

$21,280,120.93
$20,819,727.18
$20,352,081.94
$19,877,071.00
$19,394,578.35
$18,904,486.14
$18,406,674.67
$17,901,022.37
$17,387,405.73
$16,865,699.32
$16,335,775.70
$15,797,505.47
$15,250,757.15
$14,695,397.20
$14,131,289.99
$13,558,297.75
$12,976,280.53
$12,385,096.17
$11,784,600.30
$11,174,646.25

$335,175.01
$327,923.52
$320,557.82
$313,076.11
$305,476.55
$297,757.29
$289,916.46
$281,952.12
$273,862.34
$265,645.15
$257,298.52
$248,820.44
$240,208.81
$231,461.55
$222,576.52
$213,551.54
$204,384.41
$195,072.89
$185,614.71
$176,007.56

Pgina10

Capital + Inters

Cuota

$22,075,689.69
$21,615,295.94
$21,147,650.70
$20,672,639.76
$20,190,147.11
$19,700,054.89
$19,202,243.43
$18,696,591.13
$18,182,974.49
$17,661,268.08
$17,131,344.46
$16,593,074.23
$16,046,325.90
$15,490,965.96
$14,926,858.75
$14,353,866.51
$13,771,849.29
$13,180,664.93
$12,580,169.06
$11,970,215.01
$11,350,653.81

$795,568.76
$795,568.76
$795,568.76
$795,568.76
$795,568.76
$795,568.76
$795,568.76
$795,568.76
$795,568.76
$795,568.76
$795,568.76
$795,568.76
$795,568.76
$795,568.76
$795,568.76
$795,568.76
$795,568.76
$795,568.76
$795,568.76
$795,568.76
$795,568.76

PUNTO2
$598,654.60
$608,083.78
$617,661.47
$627,390.02
$637,271.80
$647,309.22
$657,504.74
$667,860.84
$678,380.06
$689,064.97
$699,918.16
$710,942.31
$722,140.08
$733,514.24
$745,067.54
$3,256,802.81

21
22
23
24
25
26
27
28
29
30
31
32
33
34
35

$10,555,085.05
$9,925,765.38
$9,286,533.54
$8,637,233.40
$7,977,706.38
$7,307,791.41
$6,627,324.86
$5,936,140.55
$5,234,069.66
$4,520,940.72
$3,796,579.56
$3,060,809.26
$2,313,450.13
$1,554,319.64
$783,232.37

Abono a Capital

$0.00
($70,139.47)
($71,244.21)
($72,366.35)
($73,506.16)
($74,663.93)
($75,839.93)
($77,034.46)
($78,247.80)
($79,480.25)
($80,732.11)
($82,003.69)
($83,295.30)
($84,607.25)
($85,939.87)
($87,293.47)
($88,668.40)
($90,064.98)
($91,483.56)
($92,924.48)
($94,388.10)
($95,874.77)
($97,384.86)
($98,918.73)
($100,476.76)
($102,059.33)
($103,666.83)
($105,299.65)

Pgina11

$166,249.09 $10,721,334.14 $795,568.76

$156,336.92 $10,082,102.30 $795,568.76
$146,268.62 $9,432,802.16 $795,568.76
$136,041.74 $8,773,275.14 $795,568.76
$125,653.79 $8,103,360.17 $795,568.76
$115,102.21 $7,422,893.62 $795,568.76
$104,384.45 $6,731,709.31 $795,568.76
$93,497.87 $6,029,638.42 $795,568.76
$82,439.82 $5,316,509.48 $795,568.76
$71,207.60 $4,592,148.32 $795,568.76
$59,798.47 $3,856,378.02 $795,568.76
$48,209.63 $3,109,018.89 $795,568.76
$36,438.26 $2,349,888.40 $795,568.76
$24,481.49 $1,578,801.13 $795,568.76
$12,336.39
$795,568.76
$795,568.76

PUNTO2
($106,958.18)
($108,642.84)
($110,354.03)
($112,092.17)
($113,857.69)
($115,651.02)
($117,472.60)
($119,322.86)
$26,741,956.11

Pgina12

PUNTO2

Capital fin perodo

$21,280,120.93
$20,819,727.18
$20,352,081.94
$19,877,071.00
$19,394,578.35
$18,904,486.14
$18,406,674.67
$17,901,022.37
$17,387,405.73
$16,865,699.32
$16,335,775.70
$15,797,505.47
$15,250,757.15
$14,695,397.20
$14,131,289.99
$13,558,297.75
$12,976,280.53
$12,385,096.17
$11,784,600.30
$11,174,646.25
$10,555,085.05

Abono a
Capital

$795,568.76
$460,393.75
$467,645.24
$475,010.94
$482,492.65
$490,092.21
$497,811.46
$505,652.30
$513,616.64
$521,706.42
$529,923.61
$538,270.24
$546,748.32
$555,359.95
$564,107.21
$572,992.24
$582,017.22
$591,184.35
$600,495.87
$609,954.05
$619,561.20

Pgina13

PUNTO2
$9,925,765.38
$9,286,533.54
$8,637,233.40
$7,977,706.38
$7,307,791.41
$6,627,324.86
$5,936,140.55
$5,234,069.66
$4,520,940.72
$3,796,579.56
$3,060,809.26
$2,313,450.13
$1,554,319.64
$783,232.37
$0.00

$629,319.67
$639,231.84
$649,300.14
$659,527.02
$669,914.97
$680,466.55
$691,184.31
$702,070.89
$713,128.94
$724,361.16
$735,770.29
$747,359.13
$759,130.50
$771,087.27
$783,232.37

Pgina14

PUNTO2

Pgina15

PUNTO3
n=
i=

48
0.99%

(F/P,i,n) =
(P/F,i,n) =
(F/A,i,n) =
(A/F,i,n) =
(A/P,i,n) =
(P/A,i,n) =
(A/G,i,n) =

1.6047064391
0.6231669392
61.0713783248
0.0163742825
0.0262759165
38.0576639046
21.6160726588

PUNTO 3
r (Anual compuesto
trimestral) =
m=
E=
m=
i (mensual)=
A=
P0 =
OPCION DE COMPRA =

CE =

Perodo

0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21

12.00%
4
12.55%
12
0.99%
$2,400,000
$2,400,000
$15,000,000
$103,085,897
Capital inicio
perodo

Inters
causado en el
perodo

$100,685,897.46
$99,282,852.37
$97,865,914.84
$96,434,947.32
$94,989,810.87
$93,530,365.22
$92,056,468.67
$90,567,978.13
$89,064,749.11
$87,546,635.66
$86,013,490.41
$84,465,164.52
$82,901,507.67
$81,322,368.06
$79,727,592.38
$78,117,025.83
$76,490,512.03
$74,847,893.09
$73,189,009.54
$71,513,700.33
$69,821,802.82

$996,954.91
$983,062.47
$969,032.47
$954,863.56
$940,554.35
$926,103.45
$911,509.46
$896,770.98
$881,886.55
$866,854.75
$851,674.11
$836,343.15
$820,860.39
$805,224.33
$789,433.44
$773,486.20
$757,381.06
$741,116.45
$724,690.79
$708,102.49
$691,349.94

Pgina16

Capital + Inters

Cuota

$103,085,897.46
$101,682,852.37
$100,265,914.84
$98,834,947.32
$97,389,810.87
$95,930,365.22
$94,456,468.67
$92,967,978.13
$91,464,749.11
$89,946,635.66
$88,413,490.41
$86,865,164.52
$85,301,507.67
$83,722,368.06
$82,127,592.38
$80,517,025.83
$78,890,512.03
$77,247,893.09
$75,589,009.54
$73,913,700.33
$72,221,802.82
$70,513,152.76

$2,400,000.00
$2,400,000.00
$2,400,000.00
$2,400,000.00
$2,400,000.00
$2,400,000.00
$2,400,000.00
$2,400,000.00
$2,400,000.00
$2,400,000.00
$2,400,000.00
$2,400,000.00
$2,400,000.00
$2,400,000.00
$2,400,000.00
$2,400,000.00
$2,400,000.00
$2,400,000.00
$2,400,000.00
$2,400,000.00
$2,400,000.00
$2,400,000.00

PUNTO3
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48

$68,113,152.76
$66,387,584.27
$64,644,929.83
$62,885,020.27
$61,107,684.73
$59,312,750.66
$57,500,043.81
$55,669,388.20
$53,820,606.11
$51,953,518.06
$50,067,942.78
$48,163,697.23
$46,240,596.54
$44,298,454.00
$42,337,081.08
$40,356,287.36
$38,355,880.55
$36,335,666.45
$34,295,448.92
$32,235,029.90
$30,154,209.37
$28,052,785.32
$25,930,553.73
$23,787,308.59
$21,622,841.81
$19,436,943.28
$17,229,400.78

$674,431.51
$657,345.56
$640,090.44
$622,664.46
$605,065.93
$587,293.15
$569,344.39
$551,217.91
$532,911.95
$514,424.72
$495,754.45
$476,899.30
$457,857.47
$438,627.08
$419,206.28
$399,593.19
$379,785.89
$359,782.47
$339,580.98
$319,179.47
$298,575.95
$277,768.41
$256,754.85
$235,533.22
$214,101.47
$192,457.50
$170,599.22

Pgina17

$68,787,584.27
$67,044,929.83
$65,285,020.27
$63,507,684.73
$61,712,750.66
$59,900,043.81
$58,069,388.20
$56,220,606.11
$54,353,518.06
$52,467,942.78
$50,563,697.23
$48,640,596.54
$46,698,454.00
$44,737,081.08
$42,756,287.36
$40,755,880.55
$38,735,666.45
$36,695,448.92
$34,635,029.90
$32,554,209.37
$30,452,785.32
$28,330,553.73
$26,187,308.59
$24,022,841.81
$21,836,943.28
$19,629,400.78
$17,400,000.00

$2,400,000.00
$2,400,000.00
$2,400,000.00
$2,400,000.00
$2,400,000.00
$2,400,000.00
$2,400,000.00
$2,400,000.00
$2,400,000.00
$2,400,000.00
$2,400,000.00
$2,400,000.00
$2,400,000.00
$2,400,000.00
$2,400,000.00
$2,400,000.00
$2,400,000.00
$2,400,000.00
$2,400,000.00
$2,400,000.00
$2,400,000.00
$2,400,000.00
$2,400,000.00
$2,400,000.00
$2,400,000.00
$2,400,000.00
$17,400,000.00

PUNTO3

Capital fin perodo

$100,685,897.46
$99,282,852.37
$97,865,914.84
$96,434,947.32
$94,989,810.87
$93,530,365.22
$92,056,468.67
$90,567,978.13
$89,064,749.11
$87,546,635.66
$86,013,490.41
$84,465,164.52
$82,901,507.67
$81,322,368.06
$79,727,592.38
$78,117,025.83
$76,490,512.03
$74,847,893.09
$73,189,009.54
$71,513,700.33
$69,821,802.82
$68,113,152.76

Abono a Capital

$2,400,000.00
$1,403,045.09
$1,416,937.53
$1,430,967.53
$1,445,136.44
$1,459,445.65
$1,473,896.55
$1,488,490.54
$1,503,229.02
$1,518,113.45
$1,533,145.25
$1,548,325.89
$1,563,656.85
$1,579,139.61
$1,594,775.67
$1,610,566.56
$1,626,513.80
$1,642,618.94
$1,658,883.55
$1,675,309.21
$1,691,897.51
$1,708,650.06

Pgina18

PUNTO3
$66,387,584.27
$64,644,929.83
$62,885,020.27
$61,107,684.73
$59,312,750.66
$57,500,043.81
$55,669,388.20
$53,820,606.11
$51,953,518.06
$50,067,942.78
$48,163,697.23
$46,240,596.54
$44,298,454.00
$42,337,081.08
$40,356,287.36
$38,355,880.55
$36,335,666.45
$34,295,448.92
$32,235,029.90
$30,154,209.37
$28,052,785.32
$25,930,553.73
$23,787,308.59
$21,622,841.81
$19,436,943.28
$17,229,400.78
($0.00)

$1,725,568.49
$1,742,654.44
$1,759,909.56
$1,777,335.54
$1,794,934.07
$1,812,706.85
$1,830,655.61
$1,848,782.09
$1,867,088.05
$1,885,575.28
$1,904,245.55
$1,923,100.70
$1,942,142.53
$1,961,372.92
$1,980,793.72
$2,000,406.81
$2,020,214.11
$2,040,217.53
$2,060,419.02
$2,080,820.53
$2,101,424.05
$2,122,231.59
$2,143,245.15
$2,164,466.78
$2,185,898.53
$2,207,542.50
$17,229,400.78

Pgina19

PUNTO4
n=
i=
(F/P,i,n) =
(P/F,i,n) =
(F/A,i,n) =
(A/F,i,n) =
(A/P,i,n) =
(P/A,i,n) =
(A/G,i,n) =

8
33.68%

1
33.68%

10.1987194747
0.0980515252
27.3116709226
0.0366143837
0.3734198286
2.6779509908
2.099386874

1.3368054449
0.74805201
1.0000000
1.0000000
1.3368054449
0.74805201
0

PUNTO 4A
F=
$16,800,000
i (trimestral
7.00%
Anticipado)=
m=
4
E=
33.68%
A=
$615,122

F=

PUNTO 4B
$16,800,000

A=

$460,143

PUNTO 4A
Perodo

0
1
2
3
4
5
6
7
8

Capital inicio
perodo

$615,121.65
$1,437,419.61
$2,536,672.01
$4,006,158.61
$5,970,576.28
$8,596,620.53
$12,107,130.78

Inters causado
Capital + Inters
en el perodo

$207,176.32
$484,130.75
$854,364.95
$1,349,296.03
$2,010,922.60
$2,895,388.60
$4,077,747.57

$822,297.97
$1,921,550.37
$3,391,036.96
$5,355,454.64
$7,981,498.89
$11,492,009.14
$16,184,878.35

Pgina20

Cuota

$615,121.65
$615,121.65
$615,121.65
$615,121.65
$615,121.65
$615,121.65
$615,121.65
$615,121.65

Capital fin
perodo

$0.00
$615,121.65
$1,437,419.61
$2,536,672.01
$4,006,158.61
$5,970,576.28
$8,596,620.53
$12,107,130.78
$16,800,000.00

PUNTO4

PUNTO 4B
Perodo

0
1
2
3
4
5
6
7
8

Capital inicio
perodo

$460,142.98
$1,075,264.63
$1,897,562.60
$2,996,815.00
$4,466,301.59
$6,430,719.27
$9,056,763.52
$12,567,273.77

Inters causado
Capital + Inters
en el perodo

$154,978.66
$362,154.98
$639,109.42
$1,009,343.61
$1,504,274.69
$2,165,901.26
$3,050,367.27
$4,232,726.23

Pgina21

Cuota

$460,142.98
$615,121.65
$460,142.98
$1,437,419.61 $460,142.98
$2,536,672.01 $460,142.98
$4,006,158.61 $460,142.98
$5,970,576.28 $460,142.98
$8,596,620.53 $460,142.98
$12,107,130.78 $460,142.98
$16,800,000.00

PUNTO4

Capital fin
perodo

$460,142.98
$1,075,264.63
$1,897,562.60
$2,996,815.00
$4,466,301.59
$6,430,719.27
$9,056,763.52
$12,567,273.77
$16,800,000.00

Pgina22

PUNTO5
n=
i=
(F/P,i,n) =
(P/F,i,n) =
(F/A,i,n) =
(A/F,i,n) =
(A/P,i,n) =
(P/A,i,n) =
(A/G,i,n) =
P=

4
15.56%
1.7834778256
0.5607022334
5.0343956663
0.1986335732
0.3542585732
2.8227968939
1.3202615728

PUNTO 5
Perodo

0
1
2
3
4

$1,190,000

r (Anual
compuesto
semestralmen
te) =

m=
E=
B=
G=
P=

15.00%
2
15.56%
$450,000
$21,535.35
$1,190,000

Pgina23

Capital inicio
perodo

Inters causado
en el perodo

$1,190,000.00
$925,193.75
$640,712.38
$333,493.95

$185,193.75
$143,983.28
$99,710.86
$51,900.00

PUNTO5
PUNTO 5
Capital + Inters

Cuota

$1,375,193.75
$1,069,177.03
$740,423.24
$385,393.94

$450,000.00
$428,464.65
$406,929.30
$385,393.94

Capital fin
perodo

$1,190,000.00
$925,193.75
$640,712.38
$333,493.95
$0.00

Pgina24

PUNTO6
i=
s=
n=
(P/T, s, i, n) =

1.25%
0.80%
72
60.9509877797

i=
s=
n=
(P/T, s, i, n) =

PUNTO 6A
P=
$19,000,000
i (trimestral)
3.80%
m=
4
E=
16.09%
m=
12
i (mensual) =
1.25%
T=
$311,726

1.25%
1.00%
72
65.22223332

PUNTO 6B
P=
$19,000,000
i (trimestral) =
3.80%
m=
4
E=
16.09%
m=
12
i (mensual) =
1.25%
T=
$291,312

PUNTO 6A
Perodo

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
30

Capital inicio
perodo

$19,000,000.00
$18,925,955.12
$18,848,490.16
$18,767,542.40
$18,683,048.15
$18,594,942.78
$18,503,160.68
$18,407,635.26
$18,308,298.94
$18,205,083.10
$18,097,918.14
$17,986,733.38
$17,871,457.10
$17,752,016.51
$17,628,337.74
$17,500,345.83
$17,367,964.69
$17,231,117.11
$17,089,724.72
$16,943,708.02
$16,792,986.31
$16,637,477.71
$16,477,099.13
$16,311,766.24
$16,141,393.48
$15,965,894.04
$15,785,179.82
$15,599,161.43
$15,407,748.17
$15,210,848.02

Inters
causado en el Capital + Inters
perodo

$237,680.99
$236,754.73
$235,785.68
$234,773.06
$233,716.07
$232,613.92
$231,465.77
$230,270.79
$229,028.14
$227,736.96
$226,396.38
$225,005.51
$223,563.46
$222,069.31
$220,522.15
$218,921.03
$217,265.00
$215,553.11
$213,784.35
$211,957.75
$210,072.30
$208,126.96
$206,120.70
$204,052.46
$201,921.18
$199,725.76
$197,465.12
$195,138.11
$192,743.62
$190,280.50

$19,237,680.99
$19,162,709.84
$19,084,275.84
$19,002,315.45
$18,916,764.22
$18,827,556.69
$18,734,626.45
$18,637,906.05
$18,537,327.08
$18,432,820.06
$18,324,314.51
$18,211,738.88
$18,095,020.55
$17,974,085.82
$17,848,859.89
$17,719,266.86
$17,585,229.69
$17,446,670.21
$17,303,509.08
$17,155,665.78
$17,003,058.61
$16,845,604.67
$16,683,219.83
$16,515,818.70
$16,343,314.66
$16,165,619.81
$15,982,644.94
$15,794,299.55
$15,600,491.80
$15,401,128.51

Pgina25

Cuota

$311,725.88
$314,219.68
$316,733.44
$319,267.31
$321,821.45
$324,396.02
$326,991.19
$329,607.11
$332,243.97
$334,901.92
$337,581.14
$340,281.79
$343,004.04
$345,748.07
$348,514.06
$351,302.17
$354,112.59
$356,945.49
$359,801.05
$362,679.46
$365,580.90
$368,505.54
$371,453.59
$374,425.22
$377,420.62
$380,439.98
$383,483.50
$386,551.37
$389,643.78
$392,760.93

Capital fin
perodo

$19,000,000.00
$18,925,955.12
$18,848,490.16
$18,767,542.40
$18,683,048.15
$18,594,942.78
$18,503,160.68
$18,407,635.26
$18,308,298.94
$18,205,083.10
$18,097,918.14
$17,986,733.38
$17,871,457.10
$17,752,016.51
$17,628,337.74
$17,500,345.83
$17,367,964.69
$17,231,117.11
$17,089,724.72
$16,943,708.02
$16,792,986.31
$16,637,477.71
$16,477,099.13
$16,311,766.24
$16,141,393.48
$15,965,894.04
$15,785,179.82
$15,599,161.43
$15,407,748.17
$15,210,848.02
$15,008,367.58

Abono a
Capital

$0.00
$74,044.88
$77,464.96
$80,947.76
$84,494.25
$88,105.37
$91,782.10
$95,525.42
$99,336.32
$103,215.83
$107,164.96
$111,184.76
$115,276.28
$119,440.59
$123,678.76
$127,991.91
$132,381.14
$136,847.58
$141,392.38
$146,016.70
$150,721.71
$155,508.60
$160,378.59
$165,332.89
$170,372.76
$175,499.44
$180,714.22
$186,018.39
$191,413.26
$196,900.16
$202,480.44

PUNTO6
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

$15,008,367.58
$14,800,212.12
$14,586,285.51
$14,366,490.22
$14,140,727.29
$13,908,896.33
$13,670,895.47
$13,426,621.38
$13,175,969.21
$12,918,832.60
$12,655,103.64
$12,384,672.86
$12,107,429.19
$11,823,259.98
$11,532,050.92
$11,233,686.08
$10,928,047.83
$10,615,016.86
$10,294,472.14
$9,966,290.89
$9,630,348.56
$9,286,518.83
$8,934,673.54
$8,574,682.71
$8,206,414.50
$7,829,735.15
$7,444,509.03
$7,050,598.53
$6,647,864.09
$6,236,164.16
$5,815,355.17
$5,385,291.50
$4,945,825.44
$4,496,807.21
$4,038,084.86
$3,569,504.32
$3,090,909.29
$2,602,141.28
$2,103,039.55
$1,593,441.06
$1,073,180.49
$542,090.15

$187,747.56
$185,143.64
$182,467.52
$179,717.98
$176,893.79
$173,993.70
$171,016.42
$167,960.67
$164,825.13
$161,608.47
$158,309.35
$154,926.39
$151,458.20
$147,903.38
$144,260.49
$140,528.09
$136,704.70
$132,788.83
$128,778.97
$124,673.57
$120,471.09
$116,169.95
$111,768.53
$107,265.22
$102,658.35
$97,946.27
$93,127.28
$88,199.64
$83,161.63
$78,011.46
$72,747.34
$67,367.44
$61,869.93
$56,252.93
$50,514.53
$44,652.81
$38,665.81
$32,551.55
$26,308.03
$19,933.19
$13,424.98
$6,781.29

$15,196,115.14
$14,985,355.76
$14,768,753.03
$14,546,208.20
$14,317,621.09
$14,082,890.03
$13,841,911.89
$13,594,582.05
$13,340,794.34
$13,080,441.08
$12,813,412.99
$12,539,599.24
$12,258,887.39
$11,971,163.35
$11,676,311.41
$11,374,214.17
$11,064,752.53
$10,747,805.69
$10,423,251.11
$10,090,964.46
$9,750,819.66
$9,402,688.77
$9,046,442.07
$8,681,947.93
$8,309,072.85
$7,927,681.43
$7,537,636.31
$7,138,798.17
$6,731,025.72
$6,314,175.62
$5,888,102.51
$5,452,658.94
$5,007,695.38
$4,553,060.14
$4,088,599.39
$3,614,157.12
$3,129,575.10
$2,634,692.83
$2,129,347.57
$1,613,374.25
$1,086,605.46
$548,871.44

$395,903.02
$399,070.25
$402,262.81
$405,480.91
$408,724.76
$411,994.56
$415,290.51
$418,612.84
$421,961.74
$425,337.43
$428,740.13
$432,170.05
$435,627.41
$439,112.43
$442,625.33
$446,166.33
$449,735.67
$453,333.55
$456,960.22
$460,615.90
$464,300.83
$468,015.23
$471,759.36
$475,533.43
$479,337.70
$483,172.40
$487,037.78
$490,934.08
$494,861.55
$498,820.45
$502,811.01
$506,833.50
$510,888.17
$514,975.27
$519,095.07
$523,247.83
$527,433.82
$531,653.29
$535,906.51
$540,193.77
$544,515.32
$548,871.44

CRECIMIENTO 0,8% Mensual

Pgina26
CAPITAL FIN PERIODO

$14,800,212.12
$14,586,285.51
$14,366,490.22
$14,140,727.29
$13,908,896.33
$13,670,895.47
$13,426,621.38
$13,175,969.21
$12,918,832.60
$12,655,103.64
$12,384,672.86
$12,107,429.19
$11,823,259.98
$11,532,050.92
$11,233,686.08
$10,928,047.83
$10,615,016.86
$10,294,472.14
$9,966,290.89
$9,630,348.56
$9,286,518.83
$8,934,673.54
$8,574,682.71
$8,206,414.50
$7,829,735.15
$7,444,509.03
$7,050,598.53
$6,647,864.09
$6,236,164.16
$5,815,355.17
$5,385,291.50
$4,945,825.44
$4,496,807.21
$4,038,084.86
$3,569,504.32
$3,090,909.29
$2,602,141.28
$2,103,039.55
$1,593,441.06
$1,073,180.49
$542,090.15
($0.00)

$208,155.46
$213,926.61
$219,795.29
$225,762.93
$231,830.96
$238,000.86
$244,274.09
$250,652.17
$257,136.61
$263,728.96
$270,430.79
$277,243.67
$284,169.21
$291,209.06
$298,364.84
$305,638.25
$313,030.97
$320,544.72
$328,181.25
$335,942.33
$343,829.73
$351,845.29
$359,990.83
$368,268.22
$376,679.34
$385,226.13
$393,910.50
$402,734.44
$411,699.93
$420,808.99
$430,063.67
$439,466.06
$449,018.24
$458,722.35
$468,580.55
$478,595.03
$488,768.01
$499,101.73
$509,598.49
$520,260.57
$531,090.34
$542,090.15

CRECIMIENTO 0,8% Mensual

PUNTO6

CAPITAL FIN PERIODO

12

18

24

30

36

PERIODOS

Pgina27

42

48

54

60

66

72

PUNTO6

PUNTO 6B
Perodo

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
30

Capital inicio
perodo

$19,000,000.00
$18,946,369.29
$18,889,154.56
$18,828,281.86
$18,763,676.00
$18,695,260.56
$18,622,957.88
$18,546,689.01
$18,466,373.71
$18,381,930.46
$18,293,276.38
$18,200,327.23
$18,102,997.45
$18,001,200.05
$17,894,846.63
$17,783,847.38
$17,668,111.04
$17,547,544.85
$17,422,054.57
$17,291,544.45
$17,155,917.20
$17,015,073.95
$16,868,914.26
$16,717,336.08
$16,560,235.72
$16,397,507.85
$16,229,045.45
$16,054,739.79
$15,874,480.42
$15,688,155.11

Inters
causado en el Capital + Inters
perodo

$237,680.99
$237,010.10
$236,294.37
$235,532.88
$234,724.69
$233,868.85
$232,964.37
$232,010.29
$231,005.58
$229,949.24
$228,840.21
$227,677.46
$226,459.92
$225,186.48
$223,856.05
$222,467.50
$221,019.69
$219,511.47
$217,941.64
$216,309.02
$214,612.39
$212,850.51
$211,022.12
$209,125.95
$207,160.70
$205,125.05
$203,017.66
$200,837.18
$198,582.22
$196,251.38

Pgina28

$19,237,680.99
$19,183,379.38
$19,125,448.93
$19,063,814.74
$18,998,400.69
$18,929,129.41
$18,855,922.25
$18,778,699.29
$18,697,379.29
$18,611,879.70
$18,522,116.59
$18,428,004.70
$18,329,457.37
$18,226,386.52
$18,118,702.68
$18,006,314.88
$17,889,130.73
$17,767,056.31
$17,639,996.21
$17,507,853.47
$17,370,529.59
$17,227,924.45
$17,079,936.38
$16,926,462.02
$16,767,396.42
$16,602,632.90
$16,432,063.12
$16,255,576.97
$16,073,062.64
$15,884,406.50

Cuota

$291,311.71
$294,224.82
$297,167.07
$300,138.74
$303,140.13
$306,171.53
$309,233.25
$312,325.58
$315,448.83
$318,603.32
$321,789.35
$325,007.25
$328,257.32
$331,539.89
$334,855.29
$338,203.85
$341,585.88
$345,001.74
$348,451.76
$351,936.28
$355,455.64
$359,010.20
$362,600.30
$366,226.30
$369,888.57
$373,587.45
$377,323.33
$381,096.56
$384,907.52
$388,756.60

Capital fin
perodo

$19,000,000.00
$18,946,369.29
$18,889,154.56
$18,828,281.86
$18,763,676.00
$18,695,260.56
$18,622,957.88
$18,546,689.01
$18,466,373.71
$18,381,930.46
$18,293,276.38
$18,200,327.23
$18,102,997.45
$18,001,200.05
$17,894,846.63
$17,783,847.38
$17,668,111.04
$17,547,544.85
$17,422,054.57
$17,291,544.45
$17,155,917.20
$17,015,073.95
$16,868,914.26
$16,717,336.08
$16,560,235.72
$16,397,507.85
$16,229,045.45
$16,054,739.79
$15,874,480.42
$15,688,155.11
$15,495,649.90

PUNTO6
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

$15,495,649.90
$15,296,848.97
$15,091,634.69
$14,879,887.57
$14,661,486.23
$14,436,307.38
$14,204,225.78
$13,965,114.21
$13,718,843.48
$13,465,282.34
$13,204,297.50
$12,935,753.56
$12,659,513.04
$12,375,436.27
$12,083,381.43
$11,783,204.46
$11,474,759.07
$11,157,896.70
$10,832,466.47
$10,498,315.17
$10,155,287.18
$9,803,224.51
$9,441,966.69
$9,071,350.80
$8,691,211.37
$8,301,380.41
$7,901,687.30
$7,491,958.83
$7,072,019.09
$6,641,689.51
$6,200,788.74
$5,749,132.65
$5,286,534.31
$4,812,803.91
$4,327,748.75
$3,831,173.16
$3,322,878.52
$2,802,663.14
$2,270,322.28
$1,725,648.08
$1,168,429.52
$598,452.36

$193,843.23
$191,356.33
$188,789.19
$186,140.34
$183,408.24
$180,591.36
$177,688.13
$174,696.96
$171,616.23
$168,444.30
$165,179.50
$161,820.14
$158,364.51
$154,810.84
$151,157.37
$147,402.30
$143,543.80
$139,580.00
$135,509.02
$131,328.95
$127,037.83
$122,633.69
$118,114.53
$113,478.30
$108,722.93
$103,846.33
$98,846.36
$93,720.85
$88,467.61
$83,084.39
$77,568.93
$71,918.92
$66,132.04
$60,205.90
$54,138.09
$47,926.16
$41,567.63
$35,059.99
$28,400.66
$21,587.04
$14,616.50
$7,486.36

$15,689,493.13
$15,488,205.29
$15,280,423.88
$15,066,027.91
$14,844,894.47
$14,616,898.74
$14,381,913.91
$14,139,811.17
$13,890,459.71
$13,633,726.64
$13,369,477.00
$13,097,573.71
$12,817,877.55
$12,530,247.11
$12,234,538.80
$11,930,606.76
$11,618,302.87
$11,297,476.70
$10,967,975.49
$10,629,644.11
$10,282,325.01
$9,925,858.20
$9,560,081.22
$9,184,829.10
$8,799,934.31
$8,405,226.74
$8,000,533.66
$7,585,679.68
$7,160,486.70
$6,724,773.90
$6,278,357.66
$5,821,051.58
$5,352,666.35
$4,873,009.81
$4,381,886.83
$3,879,099.32
$3,364,446.15
$2,837,723.12
$2,298,722.93
$1,747,235.12
$1,183,046.01
$605,938.71

$392,644.17
$396,570.61
$400,536.31
$404,541.68
$408,587.09
$412,672.96
$416,799.69
$420,967.69
$425,177.37
$429,429.14
$433,723.43
$438,060.67
$442,441.27
$446,865.69
$451,334.34
$455,847.69
$460,406.16
$465,010.23
$469,660.33
$474,356.93
$479,100.50
$483,891.51
$488,730.42
$493,617.72
$498,553.90
$503,539.44
$508,574.84
$513,660.58
$518,797.19
$523,985.16
$529,225.01
$534,517.26
$539,862.44
$545,261.06
$550,713.67
$556,220.81
$561,783.02
$567,400.85
$573,074.85
$578,805.60
$584,593.66
$605,938.72

CRECIMIENTO 1,0% Mensual

Pgina29
CAPITAL FIN PERIODO

$15,296,848.97
$15,091,634.69
$14,879,887.57
$14,661,486.23
$14,436,307.38
$14,204,225.78
$13,965,114.21
$13,718,843.48
$13,465,282.34
$13,204,297.50
$12,935,753.56
$12,659,513.04
$12,375,436.27
$12,083,381.43
$11,783,204.46
$11,474,759.07
$11,157,896.70
$10,832,466.47
$10,498,315.17
$10,155,287.18
$9,803,224.51
$9,441,966.69
$9,071,350.80
$8,691,211.37
$8,301,380.41
$7,901,687.30
$7,491,958.83
$7,072,019.09
$6,641,689.51
$6,200,788.74
$5,749,132.65
$5,286,534.31
$4,812,803.91
$4,327,748.75
$3,831,173.16
$3,322,878.52
$2,802,663.14
$2,270,322.28
$1,725,648.08
$1,168,429.52
$598,452.36
($0.00)

CRECIMIENTO 1,0% Mensual

PUNTO6

CAPITAL FIN PERIODO

12 18 24 30 36 42 48 54 60 66 72

PERIODOS

Pgina30

PUNTO6

Abono a
Capital

$0.00
$53,630.71
$57,214.72
$60,872.70
$64,605.86
$68,415.44
$72,302.68
$76,268.87
$80,315.29
$84,443.25
$88,654.09
$92,949.14
$97,329.78
$101,797.41
$106,353.42
$110,999.25
$115,736.35
$120,566.19
$125,490.28
$130,510.12
$135,627.26
$140,843.25
$146,159.69
$151,578.18
$157,100.35
$162,727.87
$168,462.40
$174,305.66
$180,259.38
$186,325.30
$192,505.22

Pgina31

PUNTO6
$198,800.93
$205,214.28
$211,747.12
$218,401.34
$225,178.85
$232,081.60
$239,111.56
$246,270.73
$253,561.14
$260,984.84
$268,543.93
$276,240.52
$284,076.77
$292,054.85
$300,176.97
$308,445.39
$316,862.37
$325,430.23
$334,151.31
$343,027.99
$352,062.67
$361,257.81
$370,615.89
$380,139.43
$389,830.97
$399,693.11
$409,728.47
$419,939.73
$430,329.58
$440,900.77
$451,656.09
$462,598.34
$473,730.40
$485,055.16
$496,575.59
$508,294.65
$520,215.38
$532,340.86
$544,674.20
$557,218.56
$569,977.16
$598,452.36

Pgina32

PUNTO6

4 60 66 72

Pgina33

i (mensual) =
s=
n=
(P/T, s, i, n) =
P=
T=

1.50%
3.54%
24
30.0000000001
$15,000,000
$500,000
PUNTO 7

Perodo

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

Capital inicio
perodo

Inters
causado en el
perodo

Capital + Inters

Cuota

Capital fin perodo

$15,000,000.00
$14,725,000.00
$14,428,186.55
$14,108,606.69
$13,765,271.02
$13,397,152.38
$13,003,184.48
$12,582,260.45
$12,133,231.39
$11,654,904.82
$11,146,043.09
$10,605,361.78
$10,031,527.94
$9,423,158.35
$8,778,817.72
$8,097,016.79
$7,376,210.32
$6,614,795.15
$5,811,108.04
$4,963,423.50
$4,069,951.55
$3,128,835.41
$2,138,149.02
$1,095,894.59

$225,000.00
$220,875.00
$216,422.80
$211,629.10
$206,479.07
$200,957.29
$195,047.77
$188,733.91
$181,998.47
$174,823.57
$167,190.65
$159,080.43
$150,472.92
$141,347.38
$131,682.27
$121,455.25
$110,643.15
$99,221.93
$87,166.62
$74,451.35
$61,049.27
$46,932.53
$32,072.24
$16,438.42

$15,225,000.00
$14,945,875.00
$14,644,609.35
$14,320,235.79
$13,971,750.08
$13,598,109.66
$13,198,232.24
$12,770,994.35
$12,315,229.86
$11,829,728.39
$11,313,233.74
$10,764,442.21
$10,182,000.86
$9,564,505.72
$8,910,499.99
$8,218,472.04
$7,486,853.48
$6,714,017.08
$5,898,274.66
$5,037,874.85
$4,131,000.83
$3,175,767.94
$2,170,221.25
$1,112,333.01

$500,000.00
$517,688.45
$536,002.66
$554,964.77
$574,597.70
$594,925.19
$615,971.80
$637,762.97
$660,325.04
$683,685.29
$707,871.96
$732,914.27
$758,842.51
$785,688.00
$813,483.20
$842,261.72
$872,058.32
$902,909.04
$934,851.16
$967,923.30
$1,002,165.42
$1,037,618.92
$1,074,326.66
$1,112,333.01

$15,000,000.00
$14,725,000.00
$14,428,186.55
$14,108,606.69
$13,765,271.02
$13,397,152.38
$13,003,184.48
$12,582,260.45
$12,133,231.39
$11,654,904.82
$11,146,043.09
$10,605,361.78
$10,031,527.94
$9,423,158.35
$8,778,817.72
$8,097,016.79
$7,376,210.32
$6,614,795.15
$5,811,108.04
$4,963,423.50
$4,069,951.55
$3,128,835.41
$2,138,149.02
$1,095,894.59
($0.00)

Abono a Capital

$0.00
$275,000.00
$296,813.45
$319,579.86
$343,335.67
$368,118.64
$393,967.90
$420,924.03
$449,029.06
$478,326.57
$508,861.72
$540,681.31
$573,833.85
$608,369.59
$644,340.62
$681,800.94
$720,806.46
$761,415.17
$803,687.11
$847,684.54
$893,471.94
$941,116.15
$990,686.39
$1,042,254.43
$1,095,894.59

n=
i=
(F/P,i,n) =
(P/F,i,n) =
(F/A,i,n) =
(A/F,i,n) =
(A/P,i,n) =
(P/A,i,n) =
(A/G,i,n) =
P=
B=
G=
P=

24
1.50%
1.4295028119
0.6995439195
28.6335207953
0.034924102
0.049924102
20.0304053663
10.7881035155
$15,000,000
$500,000
$23,068
$15,000,000

PUNTO 8
Perodo

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

Capital inicio
perodo

$15,000,000.00
$14,725,000.00
$14,422,806.86
$14,093,012.67
$13,735,203.43
$13,348,958.90
$12,933,852.56
$12,489,451.48
$12,015,316.25
$11,511,000.83
$10,976,052.55
$10,410,011.89
$9,812,412.48
$9,182,780.94
$8,520,636.77
$7,825,492.30
$7,096,852.52
$6,334,215.00
$5,537,069.77
$4,704,899.22
$3,837,177.96
$2,933,372.74
$1,992,942.30
$1,015,337.26

Inters causado
Capital + Inters
en el perodo

$225,000.00
$220,875.00
$216,342.10
$211,395.19
$206,028.05
$200,234.38
$194,007.79
$187,341.77
$180,229.74
$172,665.01
$164,640.79
$156,150.18
$147,186.19
$137,741.71
$127,809.55
$117,382.38
$106,452.79
$95,013.23
$83,056.05
$70,573.49
$57,557.67
$44,000.59
$29,894.13
$15,230.06

Cuota

Capital fin
perodo

$15,000,000.00
$15,225,000.00 $500,000.00 $14,725,000.00
$14,945,875.00 $523,068.14 $14,422,806.86
$14,639,148.96 $546,136.29 $14,093,012.67
$14,304,407.86 $569,204.43 $13,735,203.43
$13,941,231.48 $592,272.58 $13,348,958.90
$13,549,193.28 $615,340.72 $12,933,852.56
$13,127,860.35 $638,408.87 $12,489,451.48
$12,676,793.26 $661,477.01 $12,015,316.25
$12,195,545.99 $684,545.16 $11,511,000.83
$11,683,665.85 $707,613.30 $10,976,052.55
$11,140,693.34 $730,681.44 $10,410,011.89
$10,566,162.07 $753,749.59 $9,812,412.48
$9,959,598.67 $776,817.73 $9,182,780.94
$9,320,522.65 $799,885.88 $8,520,636.77
$8,648,446.33 $822,954.02 $7,825,492.30
$7,942,874.69 $846,022.17 $7,096,852.52
$7,203,305.31 $869,090.31 $6,334,215.00
$6,429,228.23 $892,158.45 $5,537,069.77
$5,620,125.82 $915,226.60 $4,704,899.22
$4,775,472.71 $938,294.74 $3,837,177.96
$3,894,735.63 $961,362.89 $2,933,372.74
$2,977,373.34 $984,431.03 $1,992,942.30
$2,022,836.44 $1,007,499.18 $1,015,337.26
$1,030,567.32 $1,030,567.32
($0.00)