ANALISA ROR

untuk MIRR = 15%

ROR (A)
C = $300.000 I = $450.000 I = $450.000 I = $450.000
0 1 2 .. 10

A) PW Eq : $300.000 = $450.000 (P/Ai%,10)

0,6666
Untuk i = 150% $300.000 = $450.000 (P/A150%,10)
= $299.979
0,6666
Untuk i = 130% $300.000 = $450.000 (P/A130%,10)
= $346.050
ROR =
$346.050$300.000
130% + 20% ( )
$346.050$299.970
$46.050
130% + 20% ( )
$46.080
130% + 20% (0,999)
130% + 19,99%
ROR (A) = 149,98% > 15%

ROR (B)
C = $900.000 I = $550.000 I = $550.000 I = $550.000
0 1 2 .. 10

B) PW Eq : $900.000 = $550.000 (P/Ai%,10)

1,652
Untuk i = 60% $900.000 = $550.000 (P/A60%,10)
= $908.600
1,4125
Untuk i = 70% $900.000 = $550.000 (P/A70%,10)
= $781.825
ROR =
$908.600$900.000
60% + 10% ( )
$908.600$781.825
$8.600
60% + 10% ( )
$126.775
60% + 10% (0,068)
60% + 0,68%
ROR (B) = 60,68% > 15%
ROR (C)

I = $750.000
C = $1.200.000 C = $800.000 I = $850.000 I = $850.000
0 1 2 .. 10

C) PW Eq : $1.200.000 = -$50.000 (P/Fi%,1) + $850.000 (P/Ai%,9) (P/Fi%,1)

0,6667 1,9480 0,6667

Untuk i = 50% $1.200.000 = -$50.000 (P/F50%,1) + $850.000 (P/A50%,9) (P/F50%,1)
= $1.070.586,86
0,6667 1,9480 0,6667
Untuk i = 40% $1.200.000 = -$50.000 (P/F40%,1) + $850.000 (P/A40%,9) (P/F40%,1)
= $1.408.706,74
ROR =
$1.408.706,74$1.200.000
40% + 10% ( )
$1.408.706,74$1.070.586,86
$208.706,74
40% + 10% ( )
$338.119,88
40% + 10% (0,6173)
40% + 6,173%
ROR (C) = 46,173% > 15%
Perbandingan ROR
B A)
C = $600.000 I = $100.000 I = $100.000 I = $100.000

0 1 2 .. 10

B-A) PW Eq : $600.000 = $100.000 (P/Ai%,10)

6,1446
Untuk i = 10% $600.000 = $100.000 (P/A10%,10)
= $614.460
5,6502
Untuk i = 12% $600.000 = $100.000 (P/A12%,10)
= $565.020
ROR =
$614.460$600.000
10% + 2% ( )
$614.460$565.020
$14.460
10% + 10% ( )
$49440
10% + 10% (0,292)
10% + 2,92%
ROR (B A) = 12,92%
i : RORB-A = 12,92% < 15% MIRR maka Proyek B ditolak dan Proyek A diterima

C B)
C = $300.000 C = $600.000 I = $350.000 I = $350.000

0 1 2 .. 10

C B) PW Eq : $300.000 = -$600.000 (P/Fi%,1) + $350.000 (P/Ai%,9) (P/Fi%,1)

0,8333 3,4631 0,8000

Untuk i = 25% $300.000 = -$600.000 (P/F20%,1) + $350.000 (P/A25%,9) (P/F25%,1)
= $369.080
0,7692 3,019 0,7692
Untuk i = 30% $300.000 = -$600.000 (P/F30%,1)+$350.000 (P/A30%,9) (P/F30%,1)
= $212.775,18
ROR =
$369.080$300.000
25% + 5% ( )
$369.080$212.775,18
$69.080
25% + 5% ( )
$156.304,82
 25% + 5% (0,442)
25% + 2,21%
ROR (C B) = 27,21%
i : RORC-B = 27,21% > 15% MIRR maka Proyek B ditolak dan Proyek C diterima

C A)
C = $900.000 C = $500.000 I = $400.000 I = $400.000

0 1 2 .. 10

C A) PW Eq : $900.000 = -$500.000 (P/Fi%,1) + $400.000 (P/Ai%,9) (P/Fi%,1)

0,8333 4,0310 0,8333

Untuk i = 20% $900.000 = -$500.000 (P/F20%,1) + $400.000 (P/A20%,9) (P/F20%,1)
= $926.962,92
0,8000 3,4631 0,8000
Untuk i = 25% $300.000 = -$600.000 (P/F25%,1)+$400.000 (P/A25%,9) (P/F25%,1)
= $708.192
ROR =
$926.962,92$900.000
20% + 5% ( )
$926.962,92$708.192
$26.962,92
20% + 5% ( )
$218.770,92
20% + 5% (0,1232)
20% + 0,616%
ROR (C A) = 20,62%
i : RORC-A = 20,62% > 15% MIRR maka Proyek A ditolak dan Proyek C diterima

Berdasarkan data ROR maka Proyek C diterima

ANALISA NPV
Untuk MIRR = 15%
5,0188
NPVA = $450.000 (P/A15%,10) - $300.000
= $2.258.460 - $300.000
= $1.958.460

5,0188
NPVB = $550.000 (P/A15%,10) - $900.000
= $2.760.340 - $900.000
= $1.860.340

5,0188 0,8696 0,8696

NPVC = $850.000 (P/A15%,9) (P/F15%,1) - $50.000 (P/F15%,1) - $1.200.000
= $3.526.980 - $43.480 - $1.200.000
= $2.283.500

Perbandingan NPV
NPVB-A = $1.860.340 $1.958.460 = -$98.120 (Tolak proyek B dan Terima proyek A)
NPVC-B = $2.283.500 $1.860.340 = $423.160 (Tolak proyek B dan Terima proyek C)
NPVC-A = $2.283.500 $1.958.460 = $325.040 (Tolak proyek A dan Terima proyek C)

Berdasarkan data NPV maka Proyek C diterima

ANALISA PVR
Untuk MIRR = 15%
NPVA $1.958.460
PVRA = = = 7,528 > 0
PW Cost A $300.000
NPVB $1.860.340
PVRB = = = 2,067 > 0
PW Cost B $900.000
NPVC $2.283.500
PVRC = = = 1,836 > 0
PW Cost C $1.200.000 + $50.000(P/F15%,1 )

Perbandingan PVR
NPVBA $98.120
PVRB-A = = = -0,16 < 0 maka Proyek B ditolak dan Proyek A diterima
PW costBA $600.000
NPVCB $423.160
PVRC-B = = = 0,515 > 0
PW costCB $300.000 + $600.000(P/F15%,1 )

maka Proyek B ditolak dan Proyek C diterima

NPVCA $325.040
PVRC-A = = = 0,243 > 0
PW costCA $900.000 + $500.000(P/F15%,1 )

maka Proyek A ditolak dan Proyek C diterima

Berdasarkan data PVR maka Proyek C diterima

KESIMPULAN :
DARI HASIL DATA ROR, NPV, dan PVR DENGAN MIRR = 15% MAKA PROYEK C
DITERIMA, SEDANGKAN PROYEK A dan B DITOLAK.
ANALISA ROR
untuk MIRR = 25%
ROR (A)
C = $300.000 I = $450.000 I = $450.000 I = $450.000
0 1 2 .. 10

D) PW Eq : $300.000 = $450.000 (P/Ai%,10)

0,6666
Untuk i = 150% $300.000 = $450.000 (P/A150%,10)
= $299.979
0,6666
Untuk i = 130% $300.000 = $450.000 (P/A130%,10)
= $346.050
ROR =
$346.050$300.000
130% + 20% ( )
$346.050$299.970
$46.050
130% + 20% ( )
$46.080
130% + 20% (0,999)
130% + 19,99%
ROR (A) = 149,98% > 15%

ROR (B)
C = $900.000 I = $550.000 I = $550.000 I = $550.000
0 1 2 .. 10

E) PW Eq : $900.000 = $550.000 (P/Ai%,10)

1,652
Untuk i = 60% $900.000 = $550.000 (P/A60%,10)
= $908.600
1,4125
Untuk i = 70% $900.000 = $550.000 (P/A70%,10)
= $781.825
ROR =
$908.600$900.000
60% + 10% ( )
$908.600$781.825
$8.600
60% + 10% ( )
$126.775
60% + 10% (0,068)
60% + 0,68%
ROR (B) = 60,68% > 15%
ROR (C)

I = $750.000
C = $1.200.000 C = $800.000 I = $850.000 I = $850.000
0 1 2 .. 10

F) PW Eq : $1.200.000 = -$50.000 (P/Fi%,1) + $850.000 (P/Ai%,9) (P/Fi%,1)

0,6667 1,9480 0,6667

Untuk i = 50% $1.200.000 = -$50.000 (P/F50%,1) + $850.000 (P/A50%,9) (P/F50%,1)
= $1.070.586,86
0,6667 1,9480 0,6667
Untuk i = 40% $1.200.000 = -$50.000 (P/F40%,1) + $850.000 (P/A40%,9) (P/F40%,1)
= $1.408.706,74
ROR =
$1.408.706,74$1.200.000
40% + 10% ( )
$1.408.706,74$1.070.586,86
$208.706,74
40% + 10% ( )
$338.119,88
40% + 10% (0,6173)
40% + 6,173%
ROR (C) = 46,173% > 15%
Perbandingan ROR
B A)
C = $600.000 I = $100.000 I = $100.000 I = $100.000

1 1 2 .. 10

B-A) PW Eq : $600.000 = $100.000 (P/Ai%,10)

6,1446
Untuk i = 10% $600.000 = $100.000 (P/A10%,10)
= $614.460
5,6502
Untuk i = 12% $600.000 = $100.000 (P/A12%,10)
= $565.020
ROR =
$614.460$600.000
10% + 2% ( )
$614.460$565.020
$14.460
10% + 10% ( )
$49440
10% + 10% (0,292)
10% + 2,92%
ROR (B A) = 12,92%
i : RORB-A = 12,92% < 25% MIRR maka Proyek B ditolak dan Proyek A diterima

C B)
C = $300.000 C = $600.000 I = $250.000 I = $250.000

1 1 2 .. 10

C B) PW Eq : $300.000 = -$600.000 (P/Fi%,1) + $250.000 (P/Ai%,9) (P/Fi%,1)

0,8333 4,0310 0,8333

Untuk i = 20% $300.000 = -$600.000 (P/F20%,1) + $250.000 (P/A20%,9) (P/F20%,1)
= $339.778
0,8000 3,4631 0,8000
Untuk i = 25% $300.000 = -$600.000 (P/F25%,1)+$250.000 (P/A25%,9) (P/F25%,1)
= $212.620
ROR =
$339.778$300.000
20% + 5% ( )
$339.778$212.620
$39.778
20% + 5% ( )
$127.158
 20% + 5% (0,3128)
20% + 1,564%
ROR (C B) = 21,56%
i : RORC-B = 21,56% < 25% MIRR maka Proyek C ditolak dan Proyek B diterima

C A)
C = $900.000 C = $500.000 I = $400.000 I = $400.000

1 1 2 .. 10

C A) PW Eq : $900.000 = -$500.000 (P/Fi%,1) + $400.000 (P/Ai%,9) (P/Fi%,1)

0,8333 4,0310 0,8333

Untuk i = 20% $900.000 = -$500.000 (P/F20%,1) + $400.000 (P/A20%,9) (P/F20%,1)
= $926.962,92
0,8000 3,4631 0,8000
Untuk i = 25% $300.000 = -$600.000 (P/F25%,1)+$400.000 (P/A25%,9) (P/F25%,1)
= $708.192
ROR =
$926.962,92$900.000
20% + 5% ( )
$926.962,92$708.192
$26.962,92
20% + 5% ( )
$218.770,92
20% + 5% (0,1232)
20% + 0,616%
ROR (C A) = 20,62%
i : RORC-A = 20,62% < 25% MIRR maka Proyek C ditolak dan Proyek A diterima

Berdasarkan data ROR maka Proyek A diterima

ANALISA NPV
Untuk MIRR = 25%
3,5705
NPVA = $450.000 (P/A25%,10) - $300.000
= $1.606.725 - $300.000
= $1.306.725

3,5705
NPVB = $550.000 (P/A25%,10) - $900.000
= $1.963.775 - $900.000
= $1.063.775

3,5705 0,8000 0,8000

NPVC = $850.000 (P/A25%,9) (P/F25%,1) - $50.000 (P/F25%,1) - $1.200.000
= $2.427.940 - $40.000 - $1.200.000
= $1.187,940

Perbandingan NPV
NPVB-A = $1.063.775 $1.306.725= -$242.950 (Tolak proyek B dan Terima proyek A)
NPVC-B = $1.187,940$1.063.775= $124.165 (Tolak proyek B dan Terima proyek C)
NPVC-A = $1.187,940 $1.306.725= -$118.785 (Tolak proyek C dan Terima proyek A)

Berdasarkan data NPV maka Proyek A diterima

ANALISA PVR
Untuk MIRR = 25%
NPVA $1.306.725
PVRA = = = 4,356 > 0
PW Cost A $300.000
NPVB $1.063.775
PVRB = = = 1,182 > 0
PW Cost B $900.000
NPVC $2.283.500
PVRC = = = 1,841 > 0
PW Cost C $1.200.000 + $50.000(P/F25%,1 )

Perbandingan PVR
NPVBA $242.950
PVRB-A = = = -0,41 < 0 maka Proyek B ditolak dan Proyek A diterima
PW costBA $600
NPVCB $124.165
PVRC-B = = = 0,159 > 0
PW costCB $300.000 + $600.000(P/F25%,1 )

maka Proyek B ditolak dan Proyek C diterima

NPVCA $118.785
PVRC-A = = = -0,091 < 0
PW costCA $900.000 + $500.000(P/F25%,1 )

maka Proyek C ditolak dan Proyek A diterima

Berdasarkan data PVR maka Proyek A diterima

KESIMPULAN :
DARI HASIL DATA ROR, NPV, dan PVR DENGAN MIRR = 25% MAKA PROYEK A
DITERIMA, SEDANGKAN PROYEK C dan B DITOLAK.